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AVIATION Bad fourth quarter leads to 2014 loss for Erickson Comment By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Feb. 25, 2015 at 4:20 PM By Greg Stiles Mail Tribune Posted Feb. 25, 2015 at 4:20 PM » Social News Erickson's evolution from its heavy-lift aircrane niche into a diversified global aviation company was again buffeted by winds of change in the final three months of 2014. The company that built its reputation on the S-64 helicopter's logging, firefighting and utility capabilities prior to shifting its headquarters from Central Point to Portland in 2009 said Wednesday its fourth-quarter losses widened to $2.5 million, or 18 cents per share, on the heels of a $1.7 million loss, or 12 cents per share, a year earlier. Erickson reported a 21 percent revenue decline to $73.2 million from $92.5 million in the fourth quarter of 2013. The company said the end of several government military contracts resulted in a $14.8 million revenue decline in its government division. "We had respectable results in a challenging quarter," CEO Udo Rieder said in an afternoon conference call. "We were not at all satisfied." In addition to downsizing of U.S. military activity in the Middle East, diminished wildfire activity throughout the year and global oil and energy exploration stomping on the brakes, Erickson is saddled with $371.9 million in long-term debt. For all of 2014, Erickson saw an 8.9 percent revenue increase to $346.6 million, but the company lost $10.2 million after earning nearly $9.9 million in 2013. The company announced a major restructuring earlier this month, laying off 150 employees — primarily in Medford and Central Point. Erickson formed four divisions: Government, energy, commercial flight services, and manufacturing, maintenance, repair and overhaul (MRO). "The recently completed business reorganization provides for an increased focus on our end markets and additional investment in business development," Rieder said. "The reorganization enables us to better leverage our competitive strengths and enhance our leadership position. This completes the integration of the ... acquisitions (Evergreen Helicopters and Air Amazonia Serviços Aeronauticos Ltda., of Brazil) we made over the past 18 months. We've gone through the rougher part of transitioning, it doesn't change our strategy." Rieder said the company is poised expand operations when oil and gas exploration rebounds. Although company officials told analysts they didn't expect to see hiring on the horizon, they anticipate Jackson County operations will produce more revenue. A few days after the layoffs, Erickson announced a contract to provide parts and service work for 50 Bell 214 ST and 214 B helicopters.  The company is hoping MRO operations will produce as much as 20 percent of the company's revenue as it "gets more traction," Rieder said. "It's the smallest revenue segment, but we believe it will be the fastest growing in the next few years." Erickson shares slipped 26 cents to close at $6.96.    Reach reporter Greg Stiles at 541-776-4463 or  [email protected] . Follow him on Twitter at  www.twitter.com/GregMTBusiness , on Facebook at  https://www.facebook.com/greg.stiles.31 , and read his blog at  www.mailtribune.com/Economic Edge .     By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Feb. 25, 2015 at 4:20 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. 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