PHI reports USD 168.8m in Q3 2018 operating revenue

PHI, Inc. has reported USD 168.8 million in third quarter 2018 operating revenues, compared to USD 150.2 million for the quarter ended September 30, 2017, an increase of USD 18.6 million, the company said.

Oil and Gas segment operating revenues increased USD 17.6 million for the quarter ended September 30, 2018.

Technical Services segment operating revenues increased USD 1.1 million. Consolidated net loss for the quarter ended September 30, 2018 was USD 11.5 million compared to net loss of USD 3.3 million for the quarter ended September 30, 2017.

Oil and Gas segment loss was USD 5.8 million for the quarter ended September 30, 2018, compared to a loss of USD 6.9 million for the quarter ended September 30, 2017. T

Air Medical segment profit was USD 6.2 million for the quarter ended September 30, 2018, compared to a segment profit of USD 16.0 million for the quarter ended September 30, 2017.

Technical Services segment profit was less than USD 0.1 million for both the quarters ended September 30, 2018 and September 30, 2017.

Unallocated selling, general and administrative costs were USD 7.9 million for the quarter ended September 30, 2018 compared to USD 6.8 million for the quarter ended September 30, 2017.

PHI provides helicopter transportation and related services to a broad range of customers including the oil and gas and air medical industries, and also provides third-party maintenance services to select customers.