Industry

Boeing reports higher profits on commercial sales

The contractor’s defense business was not as strong, as its profits
and operating margin dropped compared to a year ago. Boeing’s third quarter defense
revenue rose slightly to $8 billion.

{mosads}Large defense firms like Boeing are still reporting profits as
they warn that sequestration threatens the defense industry. The Pentagon’s
budget was cut $37 billion by the sequester this year, and its proposed 2014
budget would be reduced by $52 billion.

Like Boeing, defense firm Lockheed Martin reported a double-digit
jump in profits for the third quarter.

Boeing said Wednesday that production of its 787 Dreamliner,
the commercial jet that has faced problems this year, would increase from 10 to
12 planes per month by 2016, and increase to 14 per month by the end of the
decade.

Boeing’s shares rose more than 5 percent to $129 on Wednesday.

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