Erickson Posts Huge Loss | Aviation International News

Erickson Posts Huge Loss

The company attributed the $75 million loss to a one-time impairment-of-goodwill charge of $49.8 million.

By Mark Huber • Contributor

May 14, 2015

Helicopter services company Erickson posted a net loss of $75 million for the first quarter of the year. The company attributed the unusually hefty loss in large part to a one-time impairment-of-goodwill charge of $49.8 million and an additional $7.1 million charge on fleet aircraft available for sale. In the same period a year ago the company posted a loss of $7.6 million. While the first-quarter results exceeded company guidance, new president Jeff Roberts said Erickson “cannot be satisfied” with it.

“We continue to focus on the need to increase our revenue, improve our cost structure and drive significant, sustainable free cash flow. We are taking strategic actions and making investments in our business to improve results,” Roberts said.

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