Boeing Co.: The Seattle-based aircraft company said...

Boeing Co.: The Seattle-based aircraft company said first-quarter profit rose to $161 million, up 18% from a year ago. Revenue advanced 10% to $4 billion. The firm attributed the gains to higher sales and lower levels of research, development and other new business expenses relating to commercial aircraft and computing. They were partly offset by continued performance problems on several U.S. government programs, increased research, development relating to electronics, defense and space programs and a higher effective federal income tax rate.