Boeing says it delivered 477 planes last year, a number that one analyst calls disappointing. Chicago-based Boeing delivered three fewer planes than it had forecast in October - and that October forecast was already lowered from earlier in the year.

Three aircraft may not sound like a big deal, but when planes cost tens or even hundreds of millions of dollars, each one is significant. Morningstar analyst Neal Dihora says what really stood out is how few of the brand-new 787 Dreamliners Boeing delivered.

“They had three months to deliver more than two planes, and they only did two planes in the quarter, so what happened?” Dihora said.

Boeing spokesman Doug Alder says deliveries were delayed as the company worked to make some changes to the planes. But he said the company is pleased to have orders to deliver 25 more Dreamliners.

Alder says Boeing’s priority now is to make sure production of the new planes is reliable and stable.