Embraer announces Q1 results, raises price of Phenom 100 VLJ
16 May 2007
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Sao Jose dos Campos, Brazil: Brazilian airframe manufacturer, Embraer, has announced slightly improved first-quarter revenue over the same period last year. It has also reported a dip in net profit for the company on the back of reduced deliveries and continued supply chain issues
Embraer said that net revenue for the quarter was up 4.3 per cent, to $843.4 million, compared to $808.3 million a year ago. Increased production costs also affected profits, which fell from $231.9 million to $216.3 million.
Business aircraft accounted for $119.4 million of the company's total revenue. The company has an order backlog for almost 400 of its new business aircraft, the Phenom 100 and 300. It confirmed that both programmes remained on schedule.
The yet-to-be-flown Phenom 100 VLJ has received such an enthusiastic response from the market that the company is raising the price on the jet from $2.85 million to $2.95 million. The Phenom 100 is expected to enter service sometime in the middle of next year.
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