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Wednesday, August 15, 2007

Embraer Struggles Through ERJ 190 Production Difficulties

Embraer (ERJ) recorded net sales of US$1,110.0 million in the second quarter 2007 (2Q07), and net income of US$67.3 million equivalent to diluted earnings per ADS of US$0.3628 as it continued to struggle with the production ramp-up for its ERJ 190/195 jets. It has now reached a 13-aircraft-per-month production rate with a target of 14. It delivered 36 aircraft during 2Q07, the same as in 2Q06. Embraer cited high costs owing to longer production cycles and higher labor costs including overtime. For a complete report see the next issue of Regional Aviation News.
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