Airbus Q1 Profit Surges - Airbus (OTC:EADSY)

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(OTC: EADSY) posted an increase in its profit for the first quarter. Airbus posted quarterly net income of EUR792 million ($880 million), up from EUR439 million, in the year-ago period.Its sales slipped 5 percent to 12.078 billion euros ($13.41 billion). In the first three months of the year, Airbus delivered 134 jets, versus 141 in the year-ago period.Its adjusted earnings before interest and taxes slipped to EUR651 million.Free cash flow came in at EUR452 million, versus a 2.034 billion outflow, in the year-earlier period.Earnings at its helicopter division dropped 10 percent.The company also confirmed its profit outlook for the full year.Airbus shares fell 2.06 percent to close at $16.88 yesterday.