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Dining Basil & Berries India Palace Taco Riendo Uber Herbal Coquina Restaurant Tempo Videos Classifieds Jobs Autos Real Estate FEATURED » Obituaries TV Listings Movie Listings Oregon Outdoors Oregon Healthy Living Magazines & Special Sections NEWS NOW REVENUE REPORT Erickson posts $17.4 million second-quarter loss By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Aug. 7, 2014 @ 6:08 pm Updated Aug 8, 2014 at 6:59 AM By Greg Stiles Mail Tribune Posted Aug. 7, 2014 @ 6:08 pm Updated Aug 8, 2014 at 6:59 AM » Social News Erickson took it on the chin during the second quarter. The aviation company with heavy-lift helicopter manufacturing and maintenance operations in Central Point suffered a $17.4 million loss, compared to a $4.9 million profit a year earlier, for the quarter ending June 30. CEO Udo Rieder suggested a late start to the North American fire season and delays in implementation of oil and gas contracts in South America combined to hurt revenue despite a series of acquisitions that turned Erickson Air-Crane into a multifaceted aviation firm during the past year. Overall, revenue increased 18 percent to $80.9 million from $68.6 million. While wildfires have devastated parts of eastern Washington and Oregon, Rieder said June flight hours under contract with the U.S. Forest Service were one-third of the five-year average. “This has been a challenging quarter for us,” Rieder said. “Contrary to the news you’ve seen about the fire season, we’re at a 10-year low in the number of fires and acres burned. That’s caused a headwind to our results in the second quarter and may reflect in the third quarter.” He said the later start caught the Forest Service by surprise, as well. “Quite frankly, the start was slower than the U.S. Forest Service expected,” Rieder said. “They had increased their budget by $400 million for the fire season. In July, that started to change, and now in August it has completely turned and we’re into a very active season. We’re today where they expected to be a month or so ago.” Weather-related problems kept Erickson from working on spring projects in part of the country, Rieder said, adding that its aircraft couldn’t stay around to do the work because they were already contracted to work elsewhere. “The majority of our revenue for firefighting is associated with daily contracts, and we’re fully sold out for the third-quarter,” Rieder said. “We’ve got contracts in Greece, California and with the U.S. Forest Service in North America. All of that is easy to predict, in place and easy to forecast. The incremental part is the actual amount of flying. We could exceed what we’ve got in the budget (for the third quarter); we use a five-year average, but it’s difficult to forecast.” He said licensing and registration issues kept the company from plunging into its oil and gas exploration-related activities in the Amazon region. He added deals for additional contracts are nearly completed. Logging revenue fell to $7.6 million from $11.3 million during the quarter, partly due the end of an operation in Malaysia. The company has recalled an air-crane from the region. “We have a stronger mix of aircraft than in the past,” Rieder said. “We’re a more balanced business, which will reduce volatility. (The desire is for) equal contributions from defense, oil/gas, fire-fighting and other commercial markets. We feel very good about the level of our capabilities.” Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness, and read his blog at www.mailtribune.com/Economic Edge. By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Aug. 7, 2014 @ 6:08 pm Updated Aug 8, 2014 at 6:59 AM » 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. calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs 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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