May 7, 2008 / 12:58 AM / in 10 years

Brazil's Embraer posts 8 pct 1st-qtr net profit rise

SAO PAULO, May 6 (Reuters) - Brazilian aircraft maker Embraer EMBR3.SAERJ.N reported a first-quarter net profit on Tuesday of 63.4 million reais ($38 million), eight percent higher than in the year-earlier period, on higher sales.

Earnings before interest, taxes, depreciation and amortization, a measure of cash flow known as EBITDA, rose to 131.5 million reais from 113.7 million reais in the first quarter of 2007.

Embraer, whose main rival in the regional jet market is Canada’s Bombardier Inc BBDb.TO, is the world’s fourth-largest commercial aircraft manufacturer.

$1=1.66 reais Reporting by Mauricio Savarese; editing by Carol Bishopric

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