Embraer releases first quarter results

In the first quarter of 2012 Embraer delivered 21 commercial and 13 executive (12 light and 1 large) jets, surpassing the 20 commercial and eight executive jets delivered in the same period of 2011. As a result of aircraft deliveries, coupled with revenues from aviation services and the Company’s growing Defense and Security business, 1Q12 revenues reached US$1,155.9m and gross margin was 23.2% for the period. EBIT and EBITDA margins were 7.4% and 12.8% respectively, in 1Q12, in line with Company expectations. Net income attributable to Embraer totaled US$62.7m in 1Q12; Net cash position totaled US$301.8m.