OLOG blows away the street -- $.40 for 2Q vs projected $.27.
OLOG is selling at 12 times 2001 earnings which is about to be revised upward after this Q.
Go OLOG.
Offshore Logistics, Inc. Announces Earnings for the Second Fiscal Quarter Ended September 30, 2000
Updated: Wednesday, November 8, 2000 06:57 PM ET
LAFAYETTE, La.--(BUSINESS WIRE)--Nov. 8, 2000--Offshore Logistics, Inc., (NASDAQ:OLOG, news, msgs) today reported net income for the quarter ended September 30, 2000 of $9.1 million, or $0.40 per diluted share, on revenues of $123.1 million, compared to a net loss of $1.1 million, or $0.05 per diluted share, on revenues of $105.5 million for the quarter ended September 30, 1999. The September, 1999 quarter included North Sea restructuring charges of $5 million (pre-tax) and without those charges net income would have been $2.4 million or $0.11 per diluted share.
Net income for the six months ended September 30, 2000 was $13.1 million, or $0.59 per diluted share (after a pre-tax charge of $1.5 million or $0.05 per diluted share for employee severance costs at Bristow) on revenues of $234.4 million, compared to net income of $2.0 million, or $0.10 per diluted share, on revenues of $212.9 million for the six months ended September 30, 1999. Net income for the six months ended September 30, 1999 would have been $5.5 million or $0.26 per diluted share before considering the North Sea restructuring charges discussed above.
qw2001.quicken.com
Jim |
