Embraer sees profit in first quarter

Embraer recorded a net income (profit) of US$35.5m (A$38.3m) for the quarter ending March 31, reversing a US$23.4m (A$26.2m) loss during the same time last year.

The improvement in net income came as net sales for the Brazilian company declined by 14 per cent to US$990m (A$1068m) as the weaker commercial airliner market weighed down the company. However, stronger sales in the defence and services sector, as well as increased deliveries of its executive jets helped to offset some of this decline to leave it with a net positive position.