CHC Helicopter Reports Operating Results for Fiscal-2014 Second Quarter
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/11/13 -- CHC Helicopter's revenue and earnings were both down year-over-year, partly as a result of limited availability of EC225 aircraft, along with costs to return those helicopters to flying operations.
The company reported revenue for the quarter of $443 million, down 1 percent from the same period in fiscal 2013. A net loss of $49 million compared with net earnings of $7 million in the year-ago quarter.
EBITDAR(i) (earnings before interest, taxes, depreciation, amortization and aircraft rental costs) was $109 million, down 13 percent.
Revenue was lower because of reduced availability of EC225 aircraft in the period, and costs were higher as a result of expenses incurred in returning those helicopters to service. That process was largely completed by the end of the quarter.
"We have now resumed commercial operations with our EC225 aircraft," said William Amelio, CHC's president and chief executive officer.
"I'm proud of the leadership CHC brought to that work, and the ability of our people to minimize disruption to customer operations while those aircraft were suspended from flight during the past year."
BUSINESS HIGHLIGHTS
Helicopter Services (flying):
Heli-One (MRO):
About CHC
CHC Helicopter is a leader in enabling customers to go further, do more and come home safely, including oil and gas companies, government search-and-rescue agencies and organizations requiring helicopter maintenance, repair and overhaul services through the Heli-One segment. The company is headquartered in Vancouver and operates about 240 aircraft in about 30 countries around the world.
Cautionary Note on Forward-Looking Statements:
This press release contains forward-looking statements and information within the meaning of certain securities laws, including the "safe harbor" provision of the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. All statements, other than statements of historical fact included in this press release, regarding our strategy, future operations, projections, conclusions, forecasts and other statements are "forward-looking statements". While these forward-looking statements represent our best current judgment, the actual results could differ materially from the conclusions, forecasts or projections contained in the forward-looking information. Certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection in the forward-looking information contained herein. Such factors include, but are not limited to, the following: competition in the markets we serve, long-term support contracts, failure to maintain standards of acceptable safety performance, political, economical, and regulatory uncertainty, problems with our non-wholly owned entities, including potential conflicts with the other owners of such entities, exposure to credit risks, inability to fund our working capital requirement, risks inherent in the operation of helicopters, unanticipated costs or cost increases associated with our business operations, exchange rate fluctuations, trade industry exposure, inflation, inability to maintain government issued licenses, inability to obtain necessary aircraft or insurance, loss of key personnel, work stoppages due to labor disputes, and future material acquisitions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. The Company disclaims any intentions or obligations to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Please refer to our annual report on Form 10-K, our quarterly reports on Form 10-Q, and our other filings, in particular any discussion of risk factors or forward-looking statements, which are filed with the SEC and available free of charge at the SEC's website (), for a full discussion of the risks and other factors that may impact any estimates or forward-looking statements made herein.
Non-GAAP Financial Measures:
This press release includes non-GAAP financial measures, including adjusted net earnings (loss), earnings before interest, taxes, depreciation, amortization and aircraft lease rent and associated costs ("Adjusted EBITDAR") referred to above as EBITDAR that are not required by, or presented in accordance with U.S. generally accepted accounting principles ("GAAP"). These non-GAAP measures are not performance measures under GAAP and should not be considered as alternatives to net earnings (loss) or any other performance or liquidity measures derived in accordance with GAAP. In addition, these measures may not be comparable to similarly titled measures of other companies. CHC has provided a reconciliation of these non-GAAP measures to the most directly comparable GAAP measure below. CHC has chosen to include adjusted net earnings (loss) as we consider this to be a useful measure of our results before asset impairments, gain or loss on the disposal of assets and foreign exchange gains or losses. We have chosen to include Adjusted EDITDAR as we consider this to be a significant indicator of our financial performance and use this measure to assist us in allocating available capital resources. CHC has provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure below and has presented a detailed discussion of its reasons for including non-GAAP financial measures and the limitations associated with those measures as part of the "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained in our Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. CHC encourages investors to review the reconciliation and the non-GAAP discussion in conjunction with our presentation of these non-GAAP financial measures.
Contacts:
CHC Helicopter
Investor Relations
(604) 247-7052
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Datum: 11.12.2013 - 15:14 Uhr
Sprache: Deutsch
News-ID 1290244
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