RIO DE JANEIRO – Brazilian aircraft manufacturer Embraer posted net income of 262.8 million reais (some $118 million) in the first quarter, up 319 percent from the same period last year, the company reported Wednesday.
Embraer’s revenue totaled 2.9 billion reais (nearly $1.3 billion), up 35.8 percent, the result of the delivery of 14 commercial aircraft and 20 executive jets, it added.
The company said first-quarter revenue from its Defense & Security segment totaled 931.4 million reais (approximately $419 million), up 87 percent from the same period of last year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 354.7 million reais (some $159 million), up from 200.8 million reais in the first quarter of 2013.
Embraer’s backlog of firm orders amounted to $19.2 billion at the close of the first quarter, its highest level since June 2009, thanks primarily to expanded sales in its Commercial Aviation segment.