<div id="subtitle">Brazil plane maker Embraer says 2Q profits up 120 percent on commercial, executive jet sales</div><div><p>Brazilian aircraft manufacturer Embraer said Thursday that profits more than doubled in the second quarter, driven by strong sales of midsize commercial jets and the company's new, popular executive jets.</p><p>Empresa Brasileira Aeronatica SA, the world's fourth-largest plane maker, reported second- quarter profits of 176 million reals (US$110 million), up 120 percent from 80 million reals (US$50 million) in the same period a year ago.</p><p>Profits hit 0.24 reals (US$0.15) per share, compared with 0.11 reals (US$0.07) per share in the same quarter of 2007.</p><p>Second-quarter revenue was 2.7 billion reals (US$1.7 billion), up 22 percent from 2.2 billion reals (US$1.4 billion).</p><p>Embraer said its backlog hit a record US$20.7 billion as of June 30, including US$6 billion in orders for executive jets.</p><p>Embraer delivered 52 aircraft during the quarter, up from 36 in the year-earlier period. The company also reaffirmed its estimate that it will deliver 195 to 200 jets this year, including 10 to 15 of its hot new Phenom executive aircraft.</p><p>Embraer said in June that it is in preliminary negotiations to sell the U.S. government eight 314-B1 Super Tucano light attack and training planes for use in Iraq.</p><p>The company also confirmed that it sold one of the propeller-driven planes to a subsidiary of Blackwater Worldwide, the world's largest security contractor and the target of harsh criticism for its conduct in Iraq.</p><p>The company's second-quarter earnings were released late Thursday after markets closed. New York-traded Embraer shares closed down 3.9 percent, or US$1.25, to US$30.56.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=29724267&bid=informcom" /></div><div id="copyright"><div>

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