Embraer-Empresa Brasileira De Aeronautica SA (ERJ) reported a third-quarter net income of US$57.7 million, equivalent to diluted earnings per ADS of US$0.3188. On average, 5 analysts polled by Thomson Reuters expected earnings per share of $0.47 for the quarter. Analysts' estimate typically excludes one-time items.
Income from operations totaled US$68.0 million in the latest quarter, a 32.3% decrease compared with US$100.5 million recorded for the same period of last year.
Despite a higher number of deliveries, the company recorded net sales of US$1.25 billion, a 19.4% decrease from US$1.55 billion in the year earlier period, basically due to third quarter 2009 product mix, that included 22 Phenom 100 jets delivered. Two analysts estimated revenues of $1.23 billion for the quarter.
For comments and feedback: editorial@rttnews.com