Boeing space revenues increased 4 percent to $2.9 billion in the first quarter of 2007 on increased sales of satellites and ground-based missile defense (GMD) programs, Boeing announced April 25. The gains offset expected loss of reported revenue from the formation of the United Launch Alliance (ULA) with Lockheed Martin Corp.

Operating margin for the space sector was 5.7 percent in the quarter, including adjustments relating to the ULA joint venture and revised cost estimates on satellite programs.

Overall, Boeing’s first quarter net earnings increased 27 percent to $877 million. Revenue improved 8 percent to $15.4 billion, with earnings from operations increasing 36 percent to $1.3 billion.