Erickson Air-Crane Inc. Announces 45% Fall In Q3 Earnings

(RTTNews) - Erickson Air-Crane Inc. (EAC) reported a profit for third quarter that declined from last year.

The company said its earnings fell to $9.62 million, or $0.70 per share. This was lower than $17.40 million, or $1.26 per share, in last year's third quarter.

Analysts had expected the company to earn $1.15 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 14.5% to $101.13 million. This was down from $118.34 million last year.

Erickson Air-Crane Inc. earnings at a glance:

-Earnings (Q3): $9.62 Mln. vs. $17.40 Mln. last year. -Earnings Decline (Y-o-Y): -44.7% -EPS (Q3): $0.70 vs. $1.26 last year. -EPS Decline (Y-o-Y): -44.4% -Analysts Estimate: $1.15 -Revenue (Q3): $101.13 Mln vs. $118.34 Mln last year. -Revenue Change (Y-o-Y): -14.5%

-Guidance: Full year revenue guidance: $300 Mln