Embraer’s Finances, Backlog Flying High

 - May 8, 2008, 12:23 PM

Brazilian aircraft manufacturer Embraer recorded first-quarter sales of $1.34 billion, a nearly 61-percent increase year-over-year, and a profit of $85 million, the company said yesterday during an investor conference call. Embraer’s firm order backlog at the end of March increased 8 percent over the previous quarter, to a record $20.3 billion, due to robust sales of its business jets and E170/190 airliners. In the first quarter, Embraer delivered 38 regional jets and seven Legacy 600 business jets, compared with 20 RJs and five Legacy 600s delivered in the same period last year. Embraer plans to deliver between 195 and 200 aircraft this year, including 10 to 15 Phenom 100s. The Phenom 100 is expected to obtain U.S. and Brazilian certification later this year. Meanwhile, the company will announce more details and pricing information for its mid-light and midsize jets (the MLJ and MSJ, respectively) later this month at EBACE. According to CEO Frederico Curado, Embraer already has letters of intent for about 100 MLJs and MSJs and will officially start taking orders at EBACE. Orders for the two Phenom models have already surpassed the 750-aircraft mark, he said.