TORONTO – Canadian specialty aviation company Discovery Air Inc. (TSX:DA.A) says its second-quarter profit rose by 3 per cent to $9.2 million from $8.9 million in the same period last year.
Basic earnings per share rose to $0.63 during the quarter from $0.61 in the second quarter of 2012.
Profit for the six months that ended on July 31, 2013, declined sharply to $435,000 from $10.3 million in the same period last year.
Earnings per share for the period dropped to $0.03 from $0.71 in 2012.
In the second quarter, the company had revenues of $72 million, a 3 per cent decrease from the comparative period last year.
For the six months, revenues were down 9 per cent to $115 million from $127 million in 2012.
The company blamed lower flight activity as well as lower forest fire management activity for the decline in revenues.
But it says an increase in training services and maintenance and overhaul activity partially offset the decrease.