Embraer: $35.3M 1Q Profit, After Loss Last Year

Brazilian plane manufacturer says its net income was $35.3 million in the first quarter, compared to a $23.4 million loss in the same quarter last year.

RIO DE JANEIRO (AP) -- The Brazilian plane manufacturer Embraer says its net income was $35.3 million in the first quarter.

That compared to a $23.4 million loss in the same quarter last year, when the global financial crisis prompted airlines to slash orders.

This year's profit is at the low-end of analysts' expectations, as orders have yet to fully bounce back.

A statement issued Thursday by the company, Empresa Brasileira de Aeronautica SA, says revenue totaled $990 million in the first quarter. That is down from $1.2 billion in the same period of 2009.

The company says it sold more smaller and cheaper executive jets this year.

More in Supply Chain