PHI Scores Higher Earnings

Offshore-energy and medevac operator PHI reported substantially higher earnings for the first quarter, posting a net revenue gain of $40.9 million (to $178.9 million) compared with the same quarter last year. The company credits the gain to more deepwater oil exploration support work and an uptick in its air medical segment. Net earnings quadrupled from the same period in 2012, increasing to $8.8 million from $2.2 million.