Boeing Co.’s 1988 profit rose 28% to...

Boeing Co.’s 1988 profit rose 28% to $614 million on sales of $16.96 billion, up 9%. Fourth-quarter earnings rose 23% to $174 million on sales of $4.8 billion, up 4% from the 1987 period. The Seattle-based firm said the higher profits for both the quarter and year were because of increased sales volume, lower levels of research, development and other new business expenses, a lower income tax rate and increases in other income.