In this paper, the finite-time boundedness and stabilization problems of a class of networked control systems (NCSs) with bounded packet dropout are investigated. The main results provided in the paper are sufficient conditions for finite-time boundedness and stability via state feedback. An iterative approach is proposed to model NCSs with bounded packet dropout as jump linear systems (JLSs). Based on Lyapunov stability theory and JLSs theory, the sufficient conditions for finite-time boundedness and stabilization of the underlying systems are derived via linear matrix inequalities (LMIs) formulation. Moreover, both sensor-to-controller and controller-to-actuator packet dropouts are considered simultaneously. Lastly, an illustrative example is given to demonstrate the effectiveness of the proposed results.