Embraer's Profits Rise, but Bizjet Deliveries Don't

Embraer reported a $98.5 million profit in the third quarter, up from $58 million a year ago, despite delivering 22 percent fewer aircraft. The company shipped 44 aircraft in the quarter, including 22 business jets-16 Phenom 100s, six Phenom 300s and two Lineage 1000s (in photo). In the same period last year, the São Paulo, Brazil-based manufacturer delivered 27 business jets-22 Phenom 100s and five Legacy 600s. The company has shipped only two Legacy 600s in the first nine months of 2010, all in the first quarter. Production shifted from that model to the recently certified 650 earlier the year, with deliveries of the new super-midsize jet due to start before yearend. In October, meanwhile, Embraer and NetJets announced an agreement for the fractional provider to buy 50 Phenom 300s and take options on 75 more.