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Wedgetail Delays To Hit Boeing’s Second Quarter Earnings But 2008 Guidance Intact

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Boeing [BA] yesterday said it would take a $250 million pre-tax charge in its second quarter earnings results due to previously acknowledged delays on an aircraft program it is developing for Australia but the company maintained its earnings guidance for this year, saying performance and productivity throughout the company will offset the charge by year-end. Boeing said that the charge is primarily due to subsystem development issues on the electronic warfare and ground support systems combined with more time needed…

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