PHI (PHIG) Financial Report Summaries

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New words: accrual, anniversary, appointed, attain, attainment, attempt, binding, Bospflug, breakage, cessation, Chairman, comparted, consumer, creditor, decision, declare, Delaware, demonstrate, deregister, director, drilling, duly, enterprise, exhibit, failing, feasibility, fiduciary, fight, flexibility, floor, focused, fresh, Gonsoulin, highest, input, Israel, issuer, July, Lance, leaving, margin, maximizing, mediation, member, Official, organizational, payroll, premium, prepaid, prepayment, President, pro, proposal, propose, proposed, purport, quantify, rata, registration, respond, satifying, schedule, Senate, Suisse, summary, therewith, treasury, Trinidad, UCC, unpaid, unsolicited, voluntarily, wrong, York

Removed: cancellation, continuing, impairment, intangible, occurrence, partly, pursue, test

From filing 10-Q 2019 Q2

Financial report summary

Risks

We may not be able to consummate our Plan of Reorganization.
Even if our Plan of Reorganization is consummated, we may not be able to achieve our stated goals.

Management Discussion

Operating Revenues - Operating revenues for the year ended December 31, 2018 were $674.4 million, compared to $579.5 million for the year ended December 31, 2017, an increase of $94.9 million, or 16.4%. Oil and Gas segment operating revenues increased $81.8 million for the year ended December 31, 2018. As discussed further below, this increase is attributable principally to revenue derived from our recently-acquired HNZ Offshore Business and secondarily from an increase in revenues from our legacy international Oil and Gas operations, partially offset by a decrease in revenues from our Gulf of Mexico operations. Operating revenues in our Air Medical segment decreased $0.1 million due principally to decreased revenues attributable to our independent provider operations. Technical Services operating revenues increased $13.2 million due to an increase in services provided to our government customer under projects discussed further below.