Offshore Logistics


posted higher fourth-quarter earnings and revenue, and the company sees expanding business opportunities in its international operations.

The company, which provides helicopter transportation for the oil and gas industry, said it earned $9.0 million, or 38 cents a share, in the fourth quarter, up from $8.2 million, or 35 cents a share, in the year-ago quarter. According to Thomson Financial/First Call, analysts had been expecting 36 cents.

Revenue grew to $128 million from $121.7 million last year.

Offshore Logistics said its full-year earnings were up 40% to $44.5 million, or $1.84 a share, from $29.9 million, or $1.32 a share, a year ago. Revenue for the year grew to $512.1 million from $478.2 million last year.

Looking forward, the company said it sees "expanding opportunities in international business and an increase in rig utilization in the Gulf of Mexico." Offshore also expects to see expansion of its contract with the U.K. Ministry of Defense and an increase in Western African activity.

The company's stock closed at $20.36 Tuesday before the earnings release.