Embraer Posts $489.3M Net for ‘07

Embraer recorded net income for fourth quarter (4Q07) and for the full year of $200.9 million and $489.3 million, respectively. Net sales in the two fiscal periods included fourth quarter 2007 net sales of $1,875.0 million and net sales for FY 2007 of $5,245.2 million.
The firm order backlog on December 31, 2007, increased 9.3 percent over the previous quarter, and reached a record high of $18.8 billion, and highlighted sales to the Executive Aviation market and the favorable performance of the ERJ 170/190 family. Embraer’s backlog accumulated a total of 764 firm orders and 786 options booked.
In 4Q07, Embraer delivered 61 jets for the Commercial Aviation, Executive Aviation and Defense and Government segments. Total deliveries in 2007 reached 169 jets, a record for a single year, and was on target of predictions for between 165 and 170 aircraft for the year. The company also reaffirmed its delivery guidance for 2008 of between 195 and 200 aircraft, for the Commercial Aviation, Executive Aviation and Defense and Government segments, and 10 to 15 Phenom 100 jets. The certification process for the Phenom 100 is expected to be concluded in the second half of 2008, as planned.
Net revenues for 4Q07 totaled $1,875.0 million, a 77.0 percent increase compared to $1,059.6 million for the fourth quarter of 2006 (4Q06). Deliveries for 4Q07 totaled 61 aircraft, a 64.9 percent increase compared to 37 jets delivered in 4Q06. For fiscal year 2007, net revenues totaled $5,245.2 million, a 39.5 percent increase compared to fiscal year 2006 revenues of $3,759.5 million.