Erickson Air-Crane sees a jump in earnings

Erickson Air-Crane reported a 53 percent boost in third-quarter earnings to $17.6 million, or $1.80 per share.

The operator and manufacturer of Erickson S-64 Aircrane reported a 29 percent revenue gain over the third quarter of 2011 to $76.3 million.

President and Chief Executive Officer Udo Rieder said all of Erickson's aerial service business lines, as well as manufacturing and repair work, grew.

"The demands of a heavy fire-fighting season, combined with improvement in a number of end markets and our new contracts, helped push us to very strong levels of both revenue and profitability," Rieder said in a statement.

The company said its deal with San Diego Gas and Electric to repurchase a helicopter and related spare parts inventory and to provide fire-fighting service to SDG&E under a new contract will improve per share earnings by 35 cents in the fourth quarter.

Erickson, which employs about 500 people in Central Point, announced its intent to acquire a Brazilian gas and oil company's aerial services unit on Tuesday.

— Greg Stiles


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