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Aviation News Item: 01067
2nd Aug 2009
Embraer Executive Aviation 2Q09 Net Revenues 8.6% Less Than 2Q08
Source: fly-corporate.com
 Embraer recorded net sales of US$ 1,456.6 million in the second quarter 2009 (2Q09), and net income of US$ 67.8 million.
In 2Q09, Embraer delivered 56 jets to the commercial aviation, executive aviation and defense segments, compared to 52 jet deliveries in the second quarter of 2008 (2Q08). The Company's firm order backlog on June 30, 2009, remained stable compared to the previous quarter, totalling US$ 19.8 billion.
Despite a higher number of deliveries, net revenues for 2Q09 totalled US$ 1,456.6 million, or a 10.9% decrease from the US$ 1,635.0 million in net revenues of 2Q08, it says is due to a different product mix in 2Q09, also including 15 Phenom 100 jet deliveries.
After US$ 63.4 million in income tax expense, Embraer's net income was US$ 67.8 million in 2Q09, compared to a net income of US$ 134.4 million in 2Q08. The net margin was 4.7% in 2Q09, compared to 8.2% in 2Q08.
A total of 19 jets were delivered to the executive aviation segment and two Phenom 100 aircraft were also delivered to the defense segment. As a result of the lower number of Legacy 600 jets delivered (five in 2Q09 compared to nine in 2Q08), 13 Phenom 100 jets and one Lineage 1000, net revenues for the executive aviation segment came to US$ 208.0 million in 2Q09, or 8.6% less than the US$ 227.6 million in 2Q08.
On June 30, 2009, Embraer's firm order backlog, including the commercial aviation, the executive aviation and the defense segments totalled US$ 19.8 billion.
Click here to read Embraer's complete Q209 report.
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