NEW YORK (Standard&Poor's) July 28, 2004--Boeing Co. (A/Stable/A-1) reported net income of $607 million for the second quarter ended June 30, 2004, compared to net loss of $192 million (after $693 million of charges related to its launch and satellite businesses) for the same quarter of 2003. Standard&Poor's Ratings Services said those results have no impact on its ratings or outlook on Boeing. A 9% revenue growth and almost 10% operating margins in the integrated defense systems segment, combined with increased profits in the commercial airplanes business stemming from greater efficiency, led to better-than-expected performance in the 2004 period. Those factors, aided by stabilizing conditions in the commercial aircraft market, enabled the company to raise earnings
