Embraer releases second quarter 2011 results


HIGHLIGHTS:
- During the 2nd quarter of 2011 (2Q11) Embraer delivered 25 jets to the commercial aviation market and 23 to the executive aviation market (20 light jets and 3 large jets);
- 2Q11 Revenues reached US$ 1,358.6 million, and Gross margin grew from 20.2% in 2Q10 to 22.4% in 2Q11;
- 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;
- 2Q11 Net income attributable to Embraer and Earnings per ADS-basic totaled US$ 96.4 million and US$ 0.5328, respectively, compared to US$ 57.4 million and US$ 0.3173 in 2Q10;
- Continuous improvement seen in the commercial aviation market, resulting in year to date sales of 62 new E-Jets and signed agreements for an additional 42 E-Jets, which are expected to be added to the Company’s backlog over the course of the following months.
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