Boeing posts $3.3 billion full-year net profit for 2010

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Boeing has recorded a full-year net profit of $3.3 billion for 2010, nearly treble the $1.3 billion net profit posted a year earlier.

The manufacturer's revenues for the 12 months ended 31 December 2010 grew 6% to $64.3 billion.

For the fourth quarter, Boeing has reported an 8% increase in net profit to $1.2 billion on an 8% growth in revenue to $16.6 billion.

Operating cash flow at the end of the year was $3 billion.

The Boeing Commercial Airplanes (BCA) division delivered 462 aircraft in 2010, a decrease of 4% year-on-year. Fourth quarter deliveries were down 5% to 116.

BCA's operating profit dropped 39% in the fourth quarter to $627 million, while revenues fell 11% to $8.2 billion. This was the result of lower than expected 777 and 747 deliveries.

Full-year net aircraft orders stood at 530 with a backlog of 3,443 aircraft. Boeing expects to deliver between 485 and 500 commercial aircraft in 2011.

"We're entering 2011 well-positioned for growth, with a large order book, increasing global demand for commercial airplanes," says Boeing chief Jim McNerney.