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MailTribune.com
  • Earnings report pushes Erickson shares up

  • Erickson Air-Crane shares have continued strengthening following last week's first-quarter 2013 earnings report.
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  • Erickson Air-Crane shares have continued strengthening following last week's first-quarter 2013 earnings report.
    Following an improved earnings report last week, shares have more than tripled from when they first began trading last spring.
    The helicopter company, which has added medium-lift operations, to its historical heavy-lift aircraft, posted a loss of $1.2 million, or 13 cents a share, versus a year-earlier loss of $5 million. This morning, shares were trading around $26.70.
    Erickson, whose primary manufacturing and maintenance facility is outside Central Point, saw revenue rise 34 percent to $36.9 million, including a 40 percent jump in its heavy-lift unit.
    The company's operating incoming was $1.9 million, excluding $2.3 million acquisition expenses related to the purchase of Evergreen Helicopters from Evergreen International Aviation Inc., and its proposed purchase of Air Amazonia Servicos Aereos Ltda., in Brazil.
    The company anticipates revenue of between $325 to $335 million during 2013.
    — Greg Stiles
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