NEW YORK (Standard&Poor's) Jan. 29, 2004--Boeing Co. (A/Stable/A-1) reported net income of $698 million for the year ended Dec. 31, 2003, compared with $492 million for 2002. Standard&Poor's Ratings Services said those results have no impact on its ratings (which were lowered on May 15, 2003) or outlook on Boeing. Higher profits reflect primarily a gain related to a $1.1 billion tax refund received in the fourth quarter. Operating income, before goodwill impairment charges, declined to $1.3 billion from $3.5 billion in 2002 due to a $184 million charge for closing the 757 production line, 100 fewer commercial aircraft deliveries, and a $1 billion charge related to commercial space operations. Revenues in the integrated defense systems
