There are some challenges in store for Boeing, as they combat lowering revenues.

In a company released report this morning, Boeing reported earnings per share fell to $1.16 per share in the second quarter, a 14 percent decrease from this time last year.

The company reported the previously disclosed charge for the Airborne Early Warning and Control program and lower profitability due to the mix and timing in commercial airplanes, prompted the decrease.

Earnings are also down this quarter, but they're up for the year so far. For the first half of 2008, revenue grew 2 percent for the company.

Despite the findings, Boeing said its long term plan is not being changed.

They predict strong performance in both their commercial and defense divisions, an increase in their commercial airplane deliveries, a decrease investment in airplane development and a gain in company-wide productivity.