Rotorcraft
Lower Oil/Gas Flying Drags Down PHI's Financials
PHI's latest quarterly revenues plunged by $31.4 million year-over-year in the second quarter, thought it still managed to post a $4.2777 million profit.

Sharply lower oil and gas flying helped send helicopter service provider PHI's latest quarterly revenues plunging by $31.4 million year-over-year for the quarter ending June 30, but the company still managed to post a modest $4.277 million profit for the period thanks to a strong $13.9 million quarterly profit from its air medical sector. Overall revenues for the quarter were $167.1 million, compared with $198.5 million in the same period last year, with $29.7 million of that decline directly attributable to lower volume of oil and gas flying.


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