NEW YORK (Standard&Poor's) Feb. 2, 2005--Boeing Co. (A/Stable/A-1) reported net income of $1.87 billion for the year ended Dec. 31, 2004, compared with $718 million for 2003. Standard&Poor's Ratings Services said this announcement has no impact on its ratings or outlook on Boeing. Excluding charges on the 717 aircraft and 767 tanker programs and tax benefits, 2004 net earnings were up about 100% on a 4% increase in revenues to $52.5 billion. Good performance of most of the integrated defense systems operations led to an 11% segment revenue gain and an almost 10% operating margin (after D&A), despite continued losses in the weak commercial space market. The commercial airplanes business remained modestly profitable, with additional orders
