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Microcap & Penny Stocks : CHC Helicopter (FLYAF) Wins HUGE contracts- solid buy... -- Ignore unavailable to you. Want to Upgrade?

To: zigler who wrote (70)	8/9/1999 1:52:00 PM
From: Robert Raymond	Respond to of 71

CHC Helicopter Corporation Announces Results for Fiscal 1999 Year Ended April 30 ST. JOHN'S, Newfoundland--(BUSINESS WIRE)--August 9, 1999--CHC Helicopter Corporation (CHC) (TSE: FLY.A - news and FLY.B - news; NASDAQ: FLYAF - news) today announced its results for the fiscal 1999 year ended April 30, 1999: ($ Millions Except Per Share Data) 3 months ended Year Ended April 30 April 30 1999 1998 1999 1998 Revenue 37.5 86.9 242.2 354.1 Net earnings (loss) (0.1) 0.5 56.7 10.1 EBITDA 6.1 11.6 44.4 54.4 Per Share Information: Average number of shares (millions) 15.4 15.6 15.6 13.4 Net earnings (loss) (0.01) 0.03 3.63 0.75 EBITDA 0.40 0.74 2.85 4.06 Book value 9.71 10.07 CHC continues to deliver strong performance and improved profitability in its core helicopter business. Net earnings for fiscal 1999 was $56.7 million ($3.63 per share) on revenue of $242.2 million. Excluding the gain on the previously announced sale of 80% of the Company's repair and overhaul businesses and the costs of the debt settlement, net earnings for the year were $8.7 million ($0.56 per share) compared to $10.1 million ($0.75 per share) reported last year. Earnings before interest, taxes, depreciation and amortization was $44.4 million ($2.85 per share), down from the $54.4 million ($4.06 per share) generated last year. Net earnings for the year include approximately $1.9 million from the disposal of assets compared to $1.7 million last year. Last year's results include the operations of the repair and overhaul businesses for the full year while this year's results include only two months of repair and overhaul operations. Helicopter operations generated revenue of $214.6 million in fiscal 1999 compared to $224.5 million generated in 1998. The earnings from operations (excluding gains) in 1999 for helicopter operations was $37.7 million (17.6% of revenue) compared to $32.1 million (14.3% of revenue) in 1998 for an improvement of $5.6 million. Domestic helicopter operations contributed strongly to operating earnings in 1999. This was due primarily to high levels of fire suppression activity in Western Canada. International oil and gas support activity also made a significant contribution to the strong fiscal 1999 performance. In commenting on the results, Chairman Craig L. Dobbin stated, ''I am pleased to announce the best year yet for CHC's helicopter operations. We have continued to provide value for our shareholders following the sale of our repair and overhaul businesses. Our pending acquisition of Helicopter Services Group ASA will triple the size of our organization and our focus will be to make it the most profitable helicopter company in the world.'' CHC Helicopter Corporation is a worldwide provider of helicopter transportation services. CHC and HSG together operate a fleet of over 370 aircraft around the world and employ 3000 people. Contact: Sylvain Allard Jo Mark Zurel President Chief Financial Officer CHC Helicopter Corporation CHC Helicopter Corporation Telephone: (709) 570-0542 Telephone: (709) 570-0567