NEW YORK (CNN/Money) - Aircraft maker Boeing Co. announced first-quarter deliveries were off 10 percent in the commercial aircraft division compared with a year ago but kept it on a path for its reduced delivery target for the year.

Chicago-based Boeing had 110 commercial jets delivered in the just completed quarter, down from 122 in the year-ago quarter and 144 deliveries in the fourth quarter of 2001.

The company saw slight increases in deliveries of some of its larger commercial jets -- the 747, 757 and 767 models. But deliveries fell hard in the 717 and 737 single-aisle models. The 737 deliveries dropped 18 percent to 59, while the 717, which Boeing considered dropping as a model in the wake of the Sept. 11 terrorist attacks, fell to three deliveries from seven a year ago and 12 in the fourth quarter.

The company was hit by cancelled or delayed orders for new aircraft as U.S. passenger carriers were hit with huge losses and reductions in their flight schedule after the Sept. 11 attacks. As a result, it announced it would cut production targets and employment by as much as 30,000 by the end of 2002.

The company's new projection for the year is for 380 commercial aircraft deliveries, down from a goal of about 500 aircraft before the attacks and the 527 it delivered last year. The 110 first-quarter deliveries are easily more than 25 percent of the way to the new target, although Boeing spokesman Larry McCracken said it is not enough to raise its current delivery target for the year.

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"If they (first-quarter deliveries) were enough for us to change projections significantly, we would have done it with this announcement," he said. "We're on track until we say differently."

Military aircraft deliveries increased to 22 from 17 a year ago, while the number of satellites increased to three from one a year ago and there was one Delta II rocket delivered compared with none a year ago.

Shares of Boeing (BA: Research, Estimates), a component of the Dow Jones industrial average, lost 36 cents to close at $48.73 before the delivery announcement.