April 26 (Bloomberg) -- Embraer SA, the world’s fourth-largest planemaker, posted a 36 percent decline in first-quarter profit net profit on cost increases.
The Sao Jose dos Campos, Brazil-based company reported net income of 111.2 million reais ($59 million) from 173.4 million reais a year earlier, according to a regulatory filing.
Net sales rose 17 percent to 2.05 billion reais as the company increased deliveries, while costs advanced 16 percent to 1.57 billion reais.
Embraer delivered 34 aircraft in the quarter, up from 28 a year earlier, the company said on April 17.
Embraer fell 0.3 percent to close at 16.26 reais in Sao Paulo today. The shares have gained 38 percent this year, compared with an advance of 9.6 percent for the benchmark Bovespa index.
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