Embraer Q3 results

Embraer third-quarter net income was $1.9 million, down from a $126.1 million net profit posted for the same period last year. The Brazilian aircraft manufacturer said the drop was “primarily as a result of deferred income taxes generated by the appreciation of the US dollar during the period.” Adjusted net income, excluding these taxes, was $125.7 million, which is nearly double net income of $64.7 million earned on a similar basis in Q3 2012. Third-quarter revenue increased by 30.7% year-on-year to $1.36 billion. Embraer delivered 28 commercial aircraft during the three months ending 30 th September 2011, from 20 delivered