Embraer releases 4th quarter and fiscal year 2010 results

Embraer reported that it met or surpassed all of its 2010 annual guidance and projections, including aircraft deliveries, net revenues and operating margin. During the 4th quarter of 2010, Embraer delivered 31 commercial and 61 executive aircraft and ended the year with total deliveries of 101 commercial and 145 executive aircraft (126 light jets and 19 large jets), surpassing the 2010 annual delivery guidance for all aircraft categories. 2010 net sales totaled US$ 5,364.1 million or US$ 5,354.5 million in US GAAP, which is higher than the US$5,250.0 million annual guidance. Fourth quarter 2010 EBIT margin was 6.7% (or 7.5% in US GAAP) and therefore the 2010 EBIT margin was also 7.3% for both GAAPs, in line with the 7.25% annual EBIT margin guidance. Net income attributable to Owners of Embraer was US$122.7 million in the 4th quarter 2010 and totaled US$330.2 million for 2010. Earnings per ADS for the 4th quarter 2010 and 2010 totaled 0.6782 and 1.8252, respectively (under US GAAP, 2010 Net income attributable to Embraer and Earnings per ADS totaled US$347.0 million and 1.9181, respectively);