Incorporated in 1934 in Delaware, the Boeing Company is headquartered in Seattle and is the worldÆs largest producer of commercial aircraft. In addition to producing commercial jets, the company also manufactures military aircraft and missiles. In August 1993, the company was chosen as the prime contractor for the new space station program by NASA. Dividends have been paid by the company since 1942, and the company adopted a ôpoison pillö stock purchase right in 1987 to help prevent it being the target of hostile takeover attempts.
During 1992, commercial transportation contributed 80 percent to revenue and 90 percent to profit; defense and space contributed 18 percent to revenue and 9 percent to profit; other industry segments contributed 2 percent to revenues and 1 percent to profit.
The company produces some of the best known and most often purchased aircraft in the world, including the 707, 727, 737, 747, 757, 767 and 777 planes. The 707 and 727 planes were the ôworkhorsesö of the American airline fleets during the days of regulation; the 737 is the best selling aircraft ever produced. As of June 30, 1993, the company had delivered nearly 7400 aircraft and had a backlog for an additional 1300. The following chart illustrates the backlog and delivery schedule for the companyÆs product line:
BoeingÆs backlog developed in the early 1990s because of the strength of its commercial transport orders. The 737 jet, initially introduced 30 years early, has provided outstanding success to the company, and the market is eagerly anticipating the delivery of the 777 aircraft, which is a joint project Boeing is undertaking with Mitsubishi.
The companyÆs mission is to make quality aerospace products for use in domestic and international markets, and to provide a fair return to investors and owners in the process. The company recognizes that in order to successfully meet its mission, it must be able to continue to prov...