Robust sales across its commercial airplane range helped Boeing post a US$1.05 billion net profit in the second quarter, a reversal from the year-ago period's loss of US$160 million that resulted from one-time charges.

The company's backlog rose 27% year-over-year to a record US$278.5 billion, with US$207.7 billion (up 47% in the past year) coming from the Commercial Airplanes segment. Revenue climbed 14% while operating profit of US$1.51 billion compared to a US$48 million deficit in the second three months of 2006.

BCA enjoyed a 22% year-over-year revenue increase to US$8.71 billion on a 17.5% lift in deliveries to 114 aircraft, comprising 86 737 NGs, four 747s, three 767s and 21 777s. Segment operating profit of US$960 million represented a 34% jump over the US$719 million earned in the year-ago quarter. BCA booked 360 gross orders during the quarter and 549 in the first six months of the year.

The company's six-month net profit of US$1.93 billion compares to a US$532 million surplus in the year-ago period. BCA's revenue of US$16.26 billion rose 15% from the year-ago semester, with the segment's operating result increasing 17% to US$1.67 billion.

Moving forward, Boeing expects revenue of US$65 billion this year, up 5.6% from 2006. BCA expects to deliver 440-445 aircraft with all production slots sold, with deliveries rising to 515-520 in 2008 with slots "essentially sold out." It said it will deliver an even higher number of units in 2009 while reiterating that it expects ontime delivery of the first 787 in May 2008 "in accordance with its contractual obligations," despite the fact that "the risks inherent in the latter stages of major airplane development programs remain."

First flight is scheduled for September and BCA said it "continues to address and manage pressures with respect to supplier performance, schedule and weight." The 787 has logged 683 firm orders from 47 customers.