Embraer reports 2nd quarter net income of $96.4 million

During the 2nd quarter of 2011 Embraer delivered 25 jets to the commercial aviation market and 23 to the executive aviation market (20 light jets and 3 large jets), revenues reached $1,358.6 million, and Gross margin grew from 20.2% in 2Q10 to 22.4% in 2Q11. EBIT and EBITDA margin reached 7.8% and 11.3%, respectively, in line with the Company’s guidance, for an accumulated EBIT and EBITDA margin of 8.3% and 12.8%, respectively, for the first half of 2011. Net income attributable to Embraer and Earnings per ADS-basic totaled $96.4 million and $0.5328, respectively, compared to $57.4 million and $0.3173 in 2Q10.