Embraer Slips To Loss On Deferred Income Taxes - Quick Facts

(RTTNews) - Brazilian commercial aircraft maker Embraer SA (ERJ) Thursday reported second-quarter net loss of $5 million or $0.03 per American Depositary Share, or ADS. This compares with net income of $54.6 million or $0.30 per share last year.

Embraer said results for the recent quarter were mainly impacted by the appreciation of the US Dollar against the Brazilian Real and consequently increased Embraer's non-cash deferred income taxes for the period.

Excluding items, adjusted earnings for the quarter were $92 million, compared with $159 million a year ago.

Revenues for the quarter were $1.56 billion, compared with $1.71 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.62 per share on revenues of $1.49 billion for the quarter. Analysts' estimates typically exclude special items.

During the quarter, Embraer delivered 22 commercial and 29 executive jets. Its firm order backlog totaled $ 17 billion, on demand from the Commercial aviation segment.