Embraer reports net income of $ 65.3 million Q1 06
New Delhi, May 17 (UNI) Embraer, the Brazilian manufacturer of commercial jets with up to 100 seats, has reported net sales of 808.3 million dollars in the first quarter of 2006 and net income of 65.3 million dollars, equivalent to diluted earnings per ADS of 0.37 dollars.
The firm order backlog on March 31 totaled 10.4 billion dollars, it said in a statement today.
The company's operating and financial information was presented on a consolidated basis in accordance with US GAAP.
While net sales increased by 45 million dollars in the first quarter of current calender year, gross margin decreased to 28.7 per cent compared to 35.1 per cent in the same period last year.
When compared to Q4 05, gross margin increased by 50 basis points despite the 2.4 per cent appreciation of the real against the US dollar during the first quarter of 2006.
Most of the decrease in gross margin during Q1 06 compared to Q1 05 is related to the 17.7 per cent average appreciation of the real against the US dollar during the period and the executive jets learning curve.
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