CHC announces record year-end results
ST. JOHN'S, NF, June 10 /CNW/ - CHC Helicopter Corporation ("CHC") (TSX:
FLY.A and FLY.B; NASDAQ: FLYA) today announced audited financial results for
the year ended April 30, 2002.
Financial Highlights
(in millions of Canadian dollars except per share amounts)
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Three Months Ended Year Ended
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April 30, April 30, April 30, April 30,
2002 2001 2002 2001(*)
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Revenue from continuing
operations $159.7 $136.3 $617.8 $525.8
EBITDA from continuing
operations 30.8 25.7 120.8 101.6
Net earnings from operations 12.2 6.7 46.6 33.0
Cash flow from operating
activities 16.2 25.1 53.5 32.9
Per Share Information
Net earnings from operations:
Basic 0.73 0.41 2.83 2.10
Diluted 0.67 0.38 2.58 1.96
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(*)Note: The comparative revenue and EBITDA figures exclude operations
that have been sold.
Highlights
- Net earnings from operations for the year ended April 30, 2002 were
$46.6 million ($2.58 per share), a 41% increase over last year.
- EBITDA from continuing operations was $120.8 million (19.6%), an
increase of $19.2 million over last year.
- Revenue from continuing operations was $617.8 million, an increase of
$92.0 million (17%) over last year.
4th Quarter Results
- Net earnings from operations for the quarter ended April 30, 2002 were
$12.2 million ($0.67 per share), an 82% increase over last year.
- This is the 10th consecutive quarter of record year-over-year earnings
growth.
- Revenue for the quarter increased by $23.4 million (17.2%) over last
year.
- The Company completed an equity offering on April 25, 2002, generating
net proceeds of $114.0 million. The net proceeds were used to pay down
credit facilities during the quarter and to redeem 35% of the senior
subordinated notes in May 2002.
Investor Conference Call
The quarterly investor conference call will take place at 10:30 a.m.
(Eastern Standard Time) on Tuesday, June 11, 2002. To listen to the conference
call interested parties should dial 1-888-881-4892 (1-416-640-4127
International) and request CHC Helicopter. A replay service will be available
immediately following the conference call until midnight on June 14, 2002. To
access this recording call 1-416-640-1917 and quote the reservation number
191535. The conference call will also be Webcast through Canada NewsWire at:
newswire.ca |
