Bristow Group Inc. (NYSE:BRS) Files An 8-K Results of Operations and Financial Condition

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Bristow Group Inc. (NYSE:BRS) Files An 8-K Results of Operations and Financial Condition

ITEM 2.02 Results of Operations and Financial Condition.

On May 23, 2017, Bristow Group Inc. (the Company) issued a press
release that summarized its financial results for the three and
twelve-month periods ended March 31, 2017 (the Financial
Results). This press release was issued in anticipation of a
conference call and QA session starting at 10:00 a.m. ET (9:00
a.m. CT) on Wednesday, May 24, 2017, to review the Financial
Results. A copy of the press release is furnished with this
report as Exhibit 99.1, and is incorporated herein by reference.
The press release includes certain non-GAAP financial measures
under Regulation G of the Securities Exchange Act of 1934 (the
Exchange Act), including adjusted EBITDA, adjusted benefit
(provision) for income taxes, adjusted net income (loss) and
adjusted diluted earnings (loss) per share (collectively, the
Non-GAAP measures). Adjusted EBITDA is calculated by taking our
net income (loss) and adjusting for interest expense,
depreciation and amortization, benefit (provision) for income
taxes, gain (loss) on disposal of assets and special items, if
any. Additionally, our net income (loss) and diluted earnings
(loss) per share in this release have been presented in certain
instances excluding gain (loss) on disposal of assets and special
items detailed in the press release; these items are presented as
adjusted net income (loss) and adjusted diluted earnings (loss)
per share. Management believes that the Non-GAAP measures provide
relevant and useful information, which is widely used by
analysts, investors and competitors in our industry as well as by
our management in assessing both consolidated and business unit
performance. Adjusted EBITDA provides us with an understanding of
one aspect of earnings before the impact of investing and
financing transactions and income taxes. Adjusted EBITDA should
not be considered a measure of discretionary cash available to us
for investing in the growth of our business. Adjusted net income
(loss) and adjusted diluted earnings (loss) per share present our
consolidated results excluding asset dispositions and special
items that do not reflect the ordinary earnings of our helicopter
services operations. Adjusted benefit (provision) for income
taxes excludes the tax impact of these items. We believe that
these measures are useful supplemental measures because net
income (loss) and diluted earnings (loss) per share include asset
disposition effects and special items, and inclusion of these
items does not reflect the predictive ongoing operational
earnings of our business. The Non-GAAP measures are not
calculated or presented in accordance with GAAP and other
companies in our industry may calculate these measures
differently than we do. As a result, these financial measures
have limitations as analytical and comparative tools and you
should not consider these items in isolation, or as a substitute
for analysis of our results as reported under GAAP. In
calculating these financial measures, we make certain adjustments
that are based on assumptions and estimates that may prove to be
inaccurate. In addition, in evaluating these financial measures,
you should be aware that in the future we may incur expenses
similar to those eliminated in this presentation. Our
presentation of the Non-GAAP measures should not be construed as
an inference that our future results will be unaffected by
unusual or special items. Such non-GAAP measures should not be
viewed as an alternative to our GAAP financial statements, but
should be read as a supplement to, and in conjunction with, our
GAAP financial statements.
ITEM 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number
Description of Exhibit
99.1
Press Release summarizing financial results dated May
23, 2017.
Limitation on Incorporation by Reference.
Information on Bristows website is not incorporated by reference
in this Form 8-K. In accordance with General Instruction B.2 of
Form 8-K, the information set forth in this Form 8-K and the
attached exhibit shall not be deemed filed for purposes of
Section 18 of the Exchange Act, or otherwise subject to the
liabilities of that Section, nor shall it be deemed incorporated
by reference in any registration statement or other filing under
the Securities Act of 1933 or the Exchange Act unless Bristow
expressly states that such information is to be considered filed
under the Exchange Act or incorporates it by specific reference
in such a filing. The information set forth in Item 2.02 and the
related exhibit furnished in Item 9.01 of this report shall not
be deemed an admission as to the materiality of any information
in this report on Form 8-K.


About Bristow Group Inc. (NYSE:BRS)

Bristow Group Inc. is an industrial aviation services provider and helicopter service provider to the offshore energy industry. The Industrial Aviation Services segment’s operations are conducted primarily through four regions: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region consists of all its operations and affiliates in Europe and Central Asia, including Norway, the United Kingdom and Turkmenistan. The Africa region consists of all its operations and affiliates on the African continent, including Nigeria, Tanzania and Egypt. The Americas region consists of all its operations and affiliates in North America and South America, including Brazil, Canada, Trinidad and the United States Gulf of Mexico. The Asia Pacific region consists of all its operations and affiliates in Australia and Southeast Asia, including Malaysia and Sakhalin. Additionally, it operates a training unit, Bristow Academy.

Bristow Group Inc. (NYSE:BRS) Recent Trading Information

Bristow Group Inc. (NYSE:BRS) closed its last trading session up +0.51 at 14.62 with 585,355 shares trading hands.