Embraer's second-quarter profit doubles
04 Aug 2008
Brazilian regional aircraft maker, Embraer (Empresa Brasileira de Aeronáutica SA) has reported Q2 net income of $134.4 million, almost double the $67.3 million earned in the year-ago period. It said revenue was up 47.3% to $1.63 billion and that value of the total orders was a record $20.7 billion. This included $6 billion for business aircraft.
Strong sales of commercial and executive aircraft boosted the bottom line, the company said.
Embraer delivered 52 aircraft during the quarter, up 44.4% year-over-year. Total deliveries for the first half stood at 97 jets, marking a 59% increase over the 61 delivered in the first half of 2007.
It attributed income gains to improvements in its industrial processes, increased deliveries and a reduction of overtime work on production lines.
It confirmed it will deliver 195-200 jets this year, including 10-15 of its new Phenom executive aircraft. It also announced that its ERJ-145 family has been certified in Russia, and also that the Chinese regulator, CAAC, had certificated the E-190/195 for operation in mainland China.
