The tabulated results for the periods ended March 31, 2000 and
1999, are as follows (amounts in thousands, except earnings per
share):
Three Months Ended Year Ended
March 31, March 31,
------------------- -------------------
2000 1999 2000 1999
-------- -------- -------- --------
Revenue $102,515 $105,929 $420,603 $468,840
======== ======== ======== ========
Net Income $ 2,893 $ 30 $ 8,890 $ 20,920
======== ======== ======== ========
BASIC:
Earnings per
common share $ 0.14 $ 0.00 $ 0.42 $ 0.97
======== ======== ======== ========
Weighted average
number of common
shares outstanding 21,103 21,305 21,103 21,582
======== ======== ======== ========
DILUTED:
Earnings per
common share $ 0.14 $ 0.00 $ 0.42 $ 0.97
======== ======== ======== ========
Weighted average
number of common
shares outstanding 21,115 21,315 21,116 25,824
======== ======== ======== ========
Selected operating data:
Three Months Ended March 31,
------------------------------------------
Current Segment
Format (2) Previous Segment Format
------------------------------------------
2000 2000 1999
------------------------------------------
Flight Hours:
Air Logistics 23,192 28,159 26,054
Bristow 12,233 22,637 24,651
International 15,371 -- --
-------- --------- --------
Total 50,796 50,796 50,705
======== ========= ========
Operating Revenues (1):
Air Logistics $ 23,932 $ 29,653 $ 26,221
Bristow $ 41,071 $ 63,878 $ 69,959
International $ 28,528 $ -- $ --
GPM $ 9,917 $ 9,917 $ 9,462
Operating Income
(Loss) (1):
Air Logistics $ 2,343 $ 4,643 $ 2,475
Bristow $ (874) $ 2,043 $ (52)
International $ 5,217 $ -- $ --
GPM $ 272 $ 272 $ 27
Operating Margins (1):
Air Logistics 9.8 % 15.6 % 9.4 %
Bristow (2.1)% 3.2 % (0.1)%
International 18.3 % -- % -- %
GPM 2.8 % 2.8 % 0.3 %
Twelve Months Ended March 31,
------------------------------------------
Current Segment
Format (2) Previous Segment Format
------------------------------------------
Flight Hours:
Air Logistics 100,563 118,747 120,888
Bristow 53,905 92,664 107,301
International 56,943 -- --
-------- --------- --------
Total 211,411 211,411 228,189
======== ========= ========
Operating Revenues (1):
Air Logistics $ 94,901 $ 113,922 $123,399
Bristow $181,339 $ 266,938 $305,408
International $104,620 $ -- $ --
GPM $ 39,703 $ 39,703 $ 41,236
Operating Income
(Loss) (1):
Air Logistics $ 12,297 $ 18,964 $ 23,824
Bristow $ (5,287) $ 956 $ 15,826
International $ 12,910 $ -- $ --
GPM $ 2,088 $ 2,088 $ 2,201
Operating Margins (1):
Air Logistics 13.0 % 16.6 % 19.3 %
Bristow (2.9)% 0.4 % 5.2 %
International 12.3 % -- % -- %
GPM 5.3 % 5.3 % 5.4 %
(1) These totals exclude the gain or loss on disposal of equipment.
(2) Beginning in fiscal year 2000, the Company changed the basis of
segmentation of its operating divisions. The respective
international operations of Air Logistics (headquartered in the
United States) and Bristow (headquartered in the United Kingdom)
will, from this point forward, be combined and reported as a
separate division. The new International division will encompass
all helicopter operations outside of the United States Gulf of
Mexico and Alaska (reported under Air Logistics) and the United
Kingdom and Europe Sectors of the North Sea (reported under
Bristow). |
