Bristow Group Inc. (NYSE: BRS) has reported third quarter operating revenue of USD395.2 million, net income of USD3.2 million (GAAP) and USD23.5 million (adjusted), and diluted earnings per share of USD0.09 (GAAP) and USD0.67 (adjusted).
Operating revenue for the December 2015 quarter was impacted by reduced activity and revenue from oil and gas clients resulting from the ongoing cyclical downturn driven by low crude oil prices globally.
Operating revenue from oil and gas clients declined USD81.2 million, or 21.2 percent, from the same quarter in fiscal year 2015. Despite challenging industry conditions, our diversification results with UK SAR and fixed-wing operations partially offset lower oil and gas revenue as follows:
Operating revenue from SAR operations increased by USD35.7 million, or 301.5 percent, in the December 2015 quarter as a result of the start-up of the UK SAR contract in April 2015.
Bristow Group provides helicopter services to the worldwide offshore energy industry. The company has major transportation operations in the North Sea, Nigeria and the US Gulf of Mexico, and in most of the other major offshore oil and gas producing regions of the world, including Australia, Brazil, Canada, Russia and Trinidad. For more information, visit the company´s website at www.bristowgroup.com.