Embraer releases second quarter 2013 results

In the second quarter of 2013 Embraer delivered 22 commercial and 29 executive (23 light and 6 large) jets; the Company’s firm order backlog grew to US$17.1bn, reaching its highest level since the third quarter of 2009, mainly as a result of significant orders in the Commercial aviation segment. As a result of aircraft deliveries, coupled with revenues from the Company’s growing Defense & Security business, 2Q13 revenues reached US$1,557.0m and gross margin was 23.1% for the period. 2Q13 net loss totaled US$-5.3m primarily as a result of deferred income taxes generated by the appreciation of the US Dollar during the period, which negatively impacted 2Q13 net income. Therefore, 2Q13 adjusted net income, excluding deferred income taxes, was US$91.8m.