NEW YORK (Standard&Poor's) April 26, 2006--Boeing Co. (A/Stable/A-1) reported net income, adjusted for nonrecurring items, of $668 million for the first quarter ended March 31, 2006, compared with $462 million for the same period in 2005, as revenues rose 12%. Standard&Poor's Ratings Services said this announcement has no impact on its ratings or outlook on Boeing. The improvement was driven by much better results in the commercial airplanes segment (10% operating margin), benefiting from higher deliveries, a favorable model mix, and ongoing productivity enhancements. The integrated defense systems (IDS) segment had another good quarter (operating margin 11.4%), although lower volume of satellite programs, strike-delayed launches, and the sale of the Rocketdyne unit resulted in a slight
