Boeing yesterday raised its earnings outlook for 2006-07 on the back of strong sales and earnings momentum as it reported that fourth-quarter net income more than doubled to $460 million from $186 million in the year-ago period.The result propelled full-year income up 37% to $2.57 billion from $1.87 billion in 2004.

"Boeing made great progress in '05, which has given us a solid foundation for even better performance in 2006 and beyond," said Chairman, President and CEO Jim McNerney during a webcast.

Fourth-quarter revenues rose 7% to $14.2 billion while full-year sales climbed 5% to $54.8 billion. Full-year revenue was depressed by $2.3 billion owing to labor strikes at its Commercial Airplanes and launch businesses but still grew 5% to $54.8 billion.

Boeing Commercial Airplanes earnings from fourth-quarter operations totaled $330 million compared with an operating loss of $149 million in the prior-year period. Operating revenues rose 8% to $5.9 billion on higher deliveries, a favorable model mix and higher spares revenues. The company delivered 73 aircraft in the quarter, eight fewer than originally planned owing to residual effects of the strike by assembly workers, compared to 67 in 2004.

Full-year operating earnings at BCAS jumped 90% to $1.43 billion from $753 million in 2004 on an 8% rise in sales to $22.7 billion. It delivered 290 aircraft, up from 285 in 2004.

McNerney declined to give guidance on the order outlook for 2006 after a record year in which Boeing sold 1,002 aircraft. However, he did say, "We probably won't get as many orders [in 2006]. . .but we expect to still see a pretty good order flow."

Boeing expects to deliver 395 airplanes in 2006, up 36% over 2005, rising to 440-445 in 2007. The 2006 delivery forecast is completely sold out, while the 2007 deliveries are more than 92% sold out. Total company backlog at year end was a record $202 billion. On a per-share basis, Boeing sees earnings of $3.25-$3.45 in 2006, rising to $4.10-$4.30 in 2007. It earned $3.20 per share in 2005.