Embraer posts record 4th quarter deliveries, meets 2009 revenue target. Shares rise

Embraer's rollercoaster 2009 ended with the company managing to match most of the targets that it set itself for the year. After achieving record deliveries with 91 aircraft and net sales of USD1,609.6 million in the final quarter, the highest revenue quarter, Embraer's gross margin for FY2009 was 20.4%, just 0.8% below FY2008's margin. Total deliveries in the year were 244 aircraft, two more than initial guidance.