NEW YORK (Standard&Poor's) Feb. 1, 2006-- Boeing Co. (A/Stable/A-1) reported net income, adjusted for nonrecurring items, of $587 million for the fourth quarter ended Dec. 31, 2005, compared with $404 million for the same period in 2004. Standard&Poor's Ratings Services said this announcement has no impact on its ratings or outlook on Boeing. Results in the commercial airplanes segment benefited from modestly higher deliveries and a favorable model mix. The integrated defense systems (IDS) segment had another good quarter, with operating margin (after D&A) of over 11%. In 2006, strong growth and margin expansion are expected in commercial airplanes operations, driven by much higher deliveries (395 versus 290) and continued productivity improvements, with further gains likely
