-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HuBNOMZWrwC1QqzkWWicCkSSuxsTd7z2TdbdZNJDXeUG7BfWZ5OZCORWmJbtyq+c eBWhmqH9KIWfJ3mTe43pxw== 0001035704-03-000198.txt : 20030401 0001035704-03-000198.hdr.sgml : 20030401 20030401131136 ACCESSION NUMBER: 0001035704-03-000198 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030331 ITEM INFORMATION: Financial statements and exhibits ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20030401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PETROLEUM HELICOPTERS INC CENTRAL INDEX KEY: 0000350403 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, NONSCHEDULED [4522] IRS NUMBER: 720395707 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09827 FILM NUMBER: 03633525 BUSINESS ADDRESS: STREET 1: 2001 SE EVANGELINE THRUWAY STREET 2: - CITY: LAFAYETTE STATE: LA ZIP: 70508 BUSINESS PHONE: - MAIL ADDRESS: STREET 1: PO BOX 90808 CITY: LAFAYETTE STATE: LA ZIP: 70509 8-K 1 d04563e8vk.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported) March 31, 2003 -------------- Petroleum Helicopters, Inc. - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Its Charter) Louisiana - -------------------------------------------------------------------------------- (State of Other Jurisdiction of Incorporation) 0-9827 72-0395707 - -------------------------------------------------------------------------------- (Commission File Number) (IRS Employer Identification No.) 2001 SE Evangeline Thruway, Lafayette, LA 70508 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (800) 235-2452 - -------------------------------------------------------------------------------- (Registrant's Telephone Number, Including Area Code) N/A - -------------------------------------------------------------------------------- (Former Name or Former Address, if Changed Since Last Report) Item 9. Regulation FD Disclosure (Provided under Item 12.) On March 31, 2003, Registrant issued a press release announcing its 2002 earnings. The Press Release is filed herewith as exhibit 99.1 and is incorporated herein by reference. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits
Exhibit No. Description ----------- ----------- 99.1 Press Release dated March 31, 2003 announcing earnings for 2002
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. Petroleum Helicopters, Inc. (Registrant) Date: March 31, 2003 By: /s/ Michael J. McCann ------------------------------------- Name: Michael J. McCann Title: Chief Financial Officer EXHIBIT INDEX
Exhibit No. Description - ----------- ----------- 99.1 Press Release dated March 31, 2003 announcing earnings for 2002
EX-99.1 3 d04563exv99w1.txt EX-99.1 PRESS RELEASE DATED MARCH 31, 2003 EXHIBIT 99.1 NEWS RELEASE CONTACT: Michael J. McCann CFO and Treasurer (337) 235-2452 FOR IMMEDIATE RELEASE PETROLEUM HELICOPTERS, INC. ANNOUNCES RESULTS FOR THE YEAR ENDED DECEMBER 31, 2002 - -------------------------------------------------------------------------------- LAFAYETTE, LA - March 31, 2003 - Petroleum Helicopters, Inc. (PHI) today reported net earnings of $9.2 million ($1.70 per diluted share) on operating revenues of $283.8 million for the year ended December 31, 2002, compared to net earnings of $11.0 million ($2.08 per diluted share) on operating revenues of $282.4 million for the year ended December 31, 2001. Included in current year earnings before tax are severance costs of $1.7 million and settlement of interest rate Swap agreements of $1.9 million, related to the issuance by the Company in April 2002 of $200 million in 9 3/8% Notes due May 1, 2009 and the termination of existing financing arrangements. Interest expense also increased $9.2 million over 2001 as a result of the Notes issuance. Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", intend", expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the Company's SEC filings. PHI provides helicopter transportation and related services to a broad range of customers including the oil and gas industry, aeromedical programs and the third-party maintenance business. PHI Common Stock is traded in The NASDAQ SmallCap Market (symbols PHEL and PHELK) # # # - -------------------------------------------------------------------------------- Petroleum Helicopters, Inc. (NASDAQ Symbols PHEL and PHELK) released the following earnings figures for the year ended December 31, 2002. (All figures, except per share data, are shown in thousands.)
For the Year Ended December 31, -------------------------- 2002 2001 -------- -------- Operating revenues $283,751 $282,437 Gain, net on disposition of property and equipment 586 1,351 Other 1,675 1,461 -------- -------- 286,012 285,249 -------- -------- Expenses: Direct expenses 235,189 243,538 Selling, general and administrative 18,189 18,029 Interest expense 17,250 6,190 -------- -------- 270,628 267,757 -------- -------- Earnings before income taxes 15,384 17,492 Income taxes 6,153 6,472 -------- -------- Net earnings $ 9,231 $ 11,020 ======== ======== BASIC: Net earnings per share $ 1.73 $ 2.12 ======== ======== DILUTED: Net earnings per share $ 1.70 $ 2.08 ======== ========
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