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OFFSHORE LOGISTICS ANNOUNCES EARNINGS FOR THE YEAR ENDED JUNE 30

 OFFSHORE LOGISTICS ANNOUNCES EARNINGS FOR THE YEAR ENDED JUNE 30
 LAFAYETTE, La., Aug. 17 /PRNewswire/ -- Offshore Logistics, Inc. (NASDAQ: OLOG), a supplier of aviation services worldwide, today reported gross revenues for the fourth quarter ended June 30 of $20.0 million compared to $23.7 million for the same period of the prior year.
 The company also reported net income from continuing operations for the quarter of $4.7 million ($.27 per share) as compared to $5.2 million ($.29 per share) for the fourth quarter of the previous year.
 For the year ended June 30, the company reported gross revenues of $84.4 million and net income from continuing operations of $17.5 million ($1.00 per share) as compared to gross revenues of $95.4 million and net income from continuing operations of $17.0 million ($.97 per share) last year.
 James B. Clement, president and chief executive officer, said that a combination of stringent cost controls in its domestic operations and increasing international activities enabled the company to protect its operating margins. The company's financial condition remains very strong and will enable Offshore Logistics to meet the challenges of the future.
 The tabulated results for the periods ended June 30, 1992 and 1991 are as follows (dollars in thousands except earnings per share):
 OFFSHORE LOGISTICS INC.
 3 mos. ended Year ended
 6/30/92 6/30/91 6/30/92 6/30/91
 Gross revenue $20,000 $23,705 $84,444 $95,433
 Income from continuing
 operations $ 4,701 $ 5,171 $17,549 $17,001
 Income from discontinued
 operations --- --- --- 5,522
 Net income $ 4,701 $ 5,171 $17,549 $22,523
 Earnings per common share and common equivalent share:
 Income from continuing
 operations $ .27 $ .29 $ 1.00 $ .97
 Income from discontinued
 operations --- --- --- .31
 Net income $ .27 $ .29 $ 1.00 $ 1.28
 Wtd. avg. number of common shares
 and common equivalent shares
 outstanding 17,634,989 17,612,510 17,618,568 17,612,507
 -0- 8/17/92 R
 /CONTACT: George Small of Offshore Logistics, 318-233-1221/
 (OLOG) CO: Offshore Logistics, Inc. ST: Louisiana IN: OIL SU: ERN


EA-BR -- AT004 -- 0442 08/17/92 10:48 EDT
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Publication:PR Newswire
Date:Aug 17, 1992
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