Embraer profits down slightly for 2013

Brazilian aircraft manufacturer Embraer has reported a net profit of $346 million for 2013, which is down just 0.8% over 2012 results. 2013 revenues rose 1.1% to $6.24 billion, while operating costs rose 3% to $4.82 billion. As a result, gross profit dropped 5% to $1.42 billion. Embraer finished the year with a strong fourth quarter, posting a net profit of $122.7 million. Revenue rose 21.4% to $2.3 billion, while operating costs grew by 21.2% to $1.74 billion, resulting in a gross profit for the fourth quarter of $567.7 million – an increase of 22%. Embraer delivered 90 commercial aircraft