Embraer releases third quarter 2012 results

During the 3rd quarter of 2012 Embraer delivered 27 jets to the commercial aviation market and 13 to the executive aviation market (11 light jets and 2 large jets). Third quarter 2012 revenues and gross margin reached US$1,404.5m and 25.3%, respectively. EBIT and EBITDA margins were 7.2% and 11.8%, respectively. However if not for the non-recurring events related to the Chautauqua Airlines Inc. restructuring program, EBIT and EBITDA margins for the period would have reached 10.2% and 14.8%, respectively. Net income attributable to Embraer shareholders and earning per ADS basic totaled US$ 65.2m. Embraer opened two new Centers of Excellence in Evora, Portugal.