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Petroleum Helicopters, Inc. Announces Results For The Quarter and Six Months Ended October 31, 1996

NEW ORLEANS, La., Nov. 25 /PRNewswire/ -- Carroll W. Suggs, Chairman and Chief Executive Officer of Petroleum Helicopters, Inc. (Nasdaq: PHEL) (PHI), announced that PHI earned $2,300,000 ($.45 per share) on total revenues of $55,000,000 for the three months ended October 31, 1996, compared to net income of $1,900,000 ($.39 per share) and total revenues of $48,000,000 for the same period in the prior year. For the six months ended October 31, 1996, net income and total revenues were $4,600,000 ($.90 per share) and $106,000,000, respectively, compared to $3,300,000 ($.66 per share) and $95,000,000 for the prior period.

Mrs. Suggs stated, "The improvement in both the second quarter and year- to-date earnings and revenues was primarily the result of increased activity in each of our markets. PHI's overall flight hours and operating revenues for the first six months increased 14% and 12%, respectively, compared to the prior year. PHI's operating margin for the current six month period improved to 15% due primarily to proportionately lower direct aircraft costs."

Mrs. Suggs noted that the results for the second quarter were adversely impacted ($.06 per share) by recent increases in aviation fuel rates.

PHI provides helicopter transportation and related services worldwide to a broad range of customers including the oil and gas industry and medical programs. PHI Common Stock is traded on the Nasdaq Small Cap Market (symbols PHEL and PHELK).
 PETROLEUM HELICOPTERS, INC.


(All figures, except per share data, are shown in thousands.)
 For the Quarter Ended For the Six Months Ended
 Oct. 31 Oct. 31
 1996 1995 1996 1995


Revenues:
 Operating Revenues $ 55,161 $ 47,901 $105,401 $ 94,280


Gain on equipment
 disposals 46 417 50 748


Equity in net earnings
 of investee companies 171 100 200 100
 Total 55,378 48,418 105,651 95,128


Expenses:
 Direct expenses 47,086 41,495 89,489 82,567


Selling, general and

administrative
 expenses 3,425 2,907 6,567 5,364
 Interest expense 1,152 758 2,019 1,535
 Total 51,663 45,160 98,075 89,466


Earnings before income
 taxes 3,715 3,258 7,576 5,662
 Income taxes 1,430 1,324 3,013 2,337
 Net earnings $ 2,285 $ 1,934 $ 4,563 $ 3,325


Net earnings per
 share $ .45 $ .39 $ .90 $ .66


SOURCE Petroleum Helicopters, Inc.
 -0- 11/25/96


/CONTACT: John H. Untereker, Vice President and Chief Financial Officer, Petroleum Helicopters, 318-272-4427/

(PHEL PHELK)

CO: Petroleum Helicopters, Inc. ST: Louisiana IN: AIR SU: ERN

KS -- ATM009 -- 3701 11/25/96 11:49 EST http://www.prnewswire.com
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Date:Nov 25, 1996
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