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Brazil Embraer’s Profits Fall Sharply, But Order Backlog Hits All-Time High

Brazilian aircraft maker Embraer had net revenues of US$ 894.1 million in the third quarter of this year, against 1.064 billion in the same period of last year, according to figures disclosed by the company today, November 14.

The reduction in revenues was due to a lesser number of deliveries, 30 aircraft between July and September 2006, against 41 in the third quarter of 2005.

The company’s net profit was US$ 61.4 million, against US$ 110.2 million from July to September 2005 and US$ 139.1 million in the second quarter of this year.

However, on September 30, the company’s firm order backlog reached the value of US$ 13.3 billion, a record level and 30.4% greater than that in the second quarter of 2006. Embraer received 137 new orders for commercial aircraft between July and September.

The company also stated that investment in research and development in the period reached US$ 39.8 million, against US$ 5.6 million in the third quarter of 2005.

Anba

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