Embraer Reports Net Sales of $894.1M

Embraer (ERJ) reported third quarter net sales of $894.1 million and net income of $61.4 million with a firm order backlog as of September 30 of $13.3 million, up 30.4 percent over the second quarter. The company attributed the earnings to intense sales efforts in all business areas which resulted in 137 new firm orders in commercial aviation and more than 300 in firm orders for the Phenom family. Its firm order backlog for the ERJ 170/190 family stands at 543 with 421 options. It maintains its revision of its 2006 delivery forecast at 10 fewer aircraft at 135 this year, resulting from taking back wing assembly for the 190 from Mitsubishi Heavy Industries. In 2007, it will make up the 10 aircraft by producing 160 aircraft rather than 150 originally forecast.