Boeing said on Wednesday that its fourth-quarter profit rose almost 20 percent on higher commercial aircraft deliveries.
Boeing reported quarterly net profit of USD$1.39 billion, compared with USD$1.2 billion a year earlier.
The company said revenue had risen to USD$19.6 billion compared with USD$16.6 billion.
RBC Capital Markets analyst Robert Stallard said in a research note that Boeing had a "solid operating quarter" driven by good margins on its commercial and military sides.
Revenue for its commercial planes division increased by 31 percent to USD$10.7 billion. Boeing delivered 477 planes last year, up from 462 in 2010.
Boeing predicted that it would deliver 585 to 600 commercial aircraft in 2012, more than the 570 Airbus has said it expects to deliver this year. Boeing said that its forecast included an expected 70 to 85 deliveries, half of which will be 787 aircraft and the rest 747-8s.
The company has an order backlog worth USD$356 billion.
"We enter 2012 with renewed momentum," chief executive Jim McNerney said in a statement. "Our priorities for the year are to continue with disciplined increases in production rates for our commercial airplane customers," he said.
LOFTY GOALS
Boeing was beaten in the 2011 commercial plane order race by Airbus. Boeing orders, adjusted for cancellations, was 805, compared with 1,419 for Airbus.
Boeing has pledged to strike back in 2012 with sales of its revamped 737 MAX, which features a new, fuel-efficient engine. The plane is due to enter service in 2017.
Boeing won its first firm orders for the MAX in December as part of a USD$19 billion deal with Southwest Airlines. The company said it had more than 1,000 orders and commitments for the MAX at the end of 2011, and said that could reach 1,500 by the end of 2012.
The MAX competes with the Airbus A320neo, which also features a new engine.
Boeing is working to increase production rates on its commercial aircraft, including the 787 Dreamliner, its new, long-delayed, carbon-composite aircraft. The first delivery of the 787 was made in September after three years of delays.
The company wants to produce 10 787s per month by the end of 2013.
Aviation industry experts have said the target is too ambitious, but Boeing is standing by it.
"I think as each week passes, each month passes, my confidence does grow," McNerney told analysts. "These ramp-ups are always difficult and it has our attention."
