Embraer earned third-quarter net income of $1.9 million, significantly reduced from a $126.1 million net profit posted in the year-ago period. 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 the 2010 third quarter. It ...

Subscribe to Access this Entire Article

"Embraer cites taxes to explain 3Q profit drop" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.