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News > Companies
Boeing sees $1.4B charge
January 21, 1998: 9:34 a.m. ET

Costs associated with elimination of old McDonnell Douglas product lines
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NEW YORK (CNNfn) - Boeing Co. plans to reduce its pretax profits by $1.4 billion to write off inventories and other costs associated with eliminating product lines belonging to the old McDonnell Douglas Corp., which it acquired in April 1997.
     The nation's largest jet maker said Wednesday the special charge will result in net losses for the fourth quarter and the full-year. Boeing is scheduled to report results Jan. 27.
     Still, chairman and chief executive Phil Condit said earnings and cash flow from operations will be within the range of estimates. Analysts project operating earnings of 30 cents a share.
     Boeing said the charge represents an adjustment to re-evaluate inventory at the Douglas Products division and adjustments in connection with customer financing.
     In November, the company said it will discontinue production of the MD-80 and MD-90 twinjets by the middle of next year.Back to top

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