CHC Group Posts Narrower Than Estimated Q1 Loss

(RTTNews) - CHC Group Ltd. (HELI), the parent company of CHC Helicopter, reported a net loss for the first quarter of $42 million or $0.52 per share, compared to a net loss of $38 million or $0.82 per share for the year-ago quarter.

Excluding items, adjusted net loss for the first quarter was $37 million or $0.46 per share, compared to an adjusted net loss of $32 million or $0.41 per share in the prior year quarter.

Revenue for the first quarter rose 11% to $460.65 million from $414.93 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.47 per share on revenue of $448.40 million for the first quarter.

The company said it is not in a position to update its prior guidance due to legal and regulatory restrictions in connection with previous announcements.