Key Developments: Erickson Inc (EAC.OQ)

EAC.OQ on NASDAQ Stock Exchange Global Market

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Latest Key Developments (Source: Significant Developments)

Erickson Inc gives FY 2015 EBITDA guidance; revenue guidance below analysts' estimates
Wednesday, 25 Feb 2015 04:05pm EST 

Erickson Inc:Anticipates FY 2015 revenues in the range of $330 million to $350 million.Anticipates FY 2015 adjusted EBITDA in the range $80 million to $90 million.Anticipates FY 2015 adjusted EBITDAR in the range of $100 million to $110 million.FY 2015 revenue of $351 million and EBITDA of $89 million - Thomson Reuters I/B/E/S.  Full Article

Erickson Inc announces organizational restructuring
Thursday, 5 Feb 2015 03:10pm EST 

Erickson Inc:Say that it has initiated comprehensive organizational restructuring that it anticipates will create new efficiencies and cost reductions, improve profitability, and enhance the company's overall competitive position.Says that it will now be organized into following four business segments.Government Aviation Services, led by Chris Bassett.Oil & Gas Aviation Services, led by Santiago Crespo.Commercial Aviation Services, led by Andy Mills.Manufacturing & MRO, led by Kerry Jarandson.Says that this significant restructuring marks final stage of integration associated with Evergreen Helicopters and Air Amazonia acquisitions.In connection with its business segment realignment, the company is engaged in several operational initiatives that are focused on achieving substantial efficiency and accountability improvements across business and are intended to enhance the company's overall profitability and cash flow position.As part of planned restructuring, Erickson will lay off about 150 employees.Layoffs will impact field, factory, and office locations, primarily in Oregon, but also at other U.S. locations.  Full Article

Erickson Incorporated awarded first off-shore oil & gas transport contract
Wednesday, 14 Jan 2015 05:10pm EST 

Erickson Incorporated:Will expand its relationship with HRT Participações em Petróleo, S.A. (HRT) with a two-year contract beginning Q1 2015.This signing furthers the partnership between HRT and Erickson and demonstrates Erickson's market position in the South American oil and gas industry.Two Sikorsky S-76C+ helicopters will be used to transport HRT's personnel to their off-shore rig 60 miles from Rio de Janeiro.  Full Article

Erickson reaffirms FY 2014 guidance
Thursday, 6 Nov 2014 04:09pm EST 

Erickson Inc:Anticipates FY 2014 revenue in the range of $350 to $370 million.Anticipates FY 2014 EBITDA in the range of $85 to $95 million.Anticipates FY 2014 adjusted EBITDAR in the range of $106 to $116 million.Anticipates FY 2014 adjusted earnings per share of $0.35 to $0.75.FY 2014 revenue of $366 mln, EBITDA of $86 mln and EPS of $0.52 - Thomson Reuters I/B/E/S.  Full Article

Erickson Inc signs Aerial Services contract to support Oil & Gas exploration and production in Ecuador
Wednesday, 5 Nov 2014 04:05pm EST 

Erickson Inc:Says the Portland-based company has entered the Ecuadorian market by partnering with Avioandes S. A. and signed a contract with Agip Oil Ecuador.Services are scheduled to start this month.Says one-year deal, with an additional one-year service extension option, contracts two Erickson aircraft to provide transport of people and equipment for oil and gas exploration and production to the Villano Oil Field in Block 10, about 260 kilometers southeast of Quito.  Full Article

Erickson Inc awarded contract extension with U.S. Navy, Military Sealift Command
Wednesday, 15 Oct 2014 02:30pm EDT 

Erickson Inc:Says it was recently awarded an option period extension with the United States Navy's Military Sealift Command (MSC).  Full Article

Erickson Inc announces five-year firefighting contract renewal with City of Los Angeles
Wednesday, 3 Sep 2014 05:00pm EDT 

Erickson Inc:Says new five-year contract with City of Los Angeles for provision of aerial firefighting services.New contract includes five guaranteed years of service with five optional one-year extensions thereafter, as well as 150-day per year minimum availability, up from 90 days in 2013.Contract represents next chapter of Erickson's 14-year presence in Southern California region, including fire suppression agreements with Los Angeles County and San Diego Gas and Electric.Erickson will provide one S-64 helicopter equipped with company's 2,650-gallon fire suppression system, detachable water tank with multiple refill options and eight coverage levels for targeted fire suppression.The Los Angeles Fire Department Air Operations Center at Van Nuys Airport will serve as staging area for the helitanker, which will be available for fire suppression efforts at all times during the contractual service periods, which began Aug. 07.  Full Article

Erickson Inc lowers FY 2014 guidance
Thursday, 7 Aug 2014 04:29pm EDT 

Erickson Inc:Anticipates FY 2014 revenues in the range of $350 to $370 million.Anticipates FY 2014 adjusted EBITDA in the range of $85 to $95 million.Anticipates FY 2014 adjusted EBITDAR in the range of $106 to $116 million.Anticipates FY 2014 adjusted earnings per share of $0.35 to $0.75.FY 2014 revenue of $391 million, EBITDA of $98 million and EPS of $1.08 - Thomson Reuters I/B/E/S.  Full Article

Erickson Inc reaffirms FY 2014 guidance
Thursday, 8 May 2014 04:09pm EDT 

Erickson Inc:Continues in FY 2014 to anticipate revenues in the range of $385 to $405 million, adjusted EBITDA in the range of $100 to $110 million, adjusted EBITDAR in the range of $120 to $130 million, and earnings per share of $0.95 to $1.35.FY 2014 EBITDA of $104 million and EPS of $1.24 - Thomson Reuters I/B/E/S.  Full Article

Erickson Inc secured new contract with PLUSPETROL PERU CORPORATION SA
Monday, 7 Apr 2014 08:30am EDT 

Erickson Inc:Five-year agreement calls for Erickson.To provide one S-64 Aircrane and related support for year-round use.  Full Article

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