Earnings $.48!
SEATTLE, Jan. 26, 1999 – Sales of $17.1 billion and net earnings of $465 million, or $.48 per share,
for the fourth quarter of 1998 were reported by Phil Condit, Boeing chairman and chief executive
officer. Comparable figures for 1997 were sales of $11.7 billion and a net loss of $498 million, or $.51
per share. Earnings for the fourth quarter of 1998 included recognition of tax benefits related to the
extension of research and development tax credits amounting to $30 million, or $.03 per share. The
1997 fourth quarter results were reduced by a special charge for commercial aircraft product lines of
the former McDonnell Douglas Corporation of $876 million after tax, or $.89 per share.
Sales for the full year of 1998 were $56.2 billion and net earnings were $1,120 million, or $1.15 per
share. Comparable figures for 1997 were sales of $45.8 billion and a net loss of $178 million, or $.18
per share. Excluding the fourth quarter 1997 special charge mentioned above, 1997 earnings were
$698 million, or $.71 per share.
In the third quarter, the Company announced a share repurchase program to repurchase up to 15
percent of the Company's outstanding shares of common stock. As of year-end 1998, the Company
repurchased 35.2 million shares of stock (approximately 3.5 percent of outstanding stock) for $1.3
billion.
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