Embraer's Fourth Quarter Profit Falls

March 14, 2008

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Brazilian plane maker Embraer reported a fourth quarter net profit of BRR212.7 million reais (USD$125.7 million), down from BRR215.6 million a year earlier.

Earnings before interest, taxes, depreciation and amortization, EBITDA, rose to BRR263.9 million from BRR232.7 million in the fourth quarter of 2006.

Embraer delivered 61 planes in the fourth quarter, up from 37 in the year-earlier period.

For the calendar year of 2007, Embraer posted a net profit of BRR657 million, up from BRR621.7 million for 2006.

The company delivered 169 aircraft last year compared with 130 in 2006.

The company said in a statement that net earnings using US generally accepted accounting principals (GAAP) totaled USD$200.9 million for the fourth quarter and USD$489.3 million for the year of 2007. It offered no comparisons under US GAAP.