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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era
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To: porcupine --''''> who wrote (1035)12/15/1998 11:20:00 PM
From: porcupine --''''>   of 1722
 
Boeing still has double-digit margin goal

SEATTLE, Dec 2 (Reuters) - Boeing Co Chairman and Chief
Executive Phil Condit said Wednesday the company still is
aiming toward a long-term goal of raising operating margins to
double-digit levels.
"Yes, it is realistic," he said in a response to a question
from an analyst in a conference call. "It remains our goal to
get double-digit operating margins in each of our business
segments, and I think we can do it."
Boeing shares were under pressure Wednesday after the
aerospace giant warned that Asia's ongoing economic ills would
cut into its 1999 earnings.
Citing the Asian economic crisis, Boeing announced plans
for deep production cuts late Tuesday and projected that
operating profits for its commercial airplane group would be no
higher than 3 percent in 1999 and 2000.
Boeing commercial airplane group President Alan Mulally
said the projections were based on attaining minimal goals for
productivity improvement.
"We have a lot of room to improve the productivity going
forward," he said.
Condit added that Boeing was taking the unusual step of
announcing forecasts two years in advance in an effort to be
more open with investors. "Right now these are the numbers
we've got."
In late morning trade, Boeing shares were down 6, or
nearly 15 percent, to 34-1/2, with almost 15 million shares
traded.
((-- Seattle bureau 206-386-4848, marty.wolk@reuters.com))
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