BOEING Q2 PROFITS UP 20%

For the three months to the end of June, Boeing reported a net income increase of almost 20% to $941m against the same period last year, generating $1.25 earnings per share, up from $1.06 per share in 2010. Sales climbed about 6% to $16.5bn. The company increased its 2011 earnings per share guidance to between $3.90 and $4.10 per share reflecting the strong core performance.  Total company 2011 revenue and cash flow guidance is unchanged. “Strong operational performance drove double-digit margins at both of our major businesses and produced outstanding results in the quarter,” said Jim McNerney, Boeing chairman, president