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Helicopter manufacturer Erickson Inc. (EAC) drops nearly 5% Friday after swinging to an adjusted loss from a narrow profit a year earlier.
EAC reported a Q1 net loss of $7.6 million, or $0.55 per diluted share, as compared to a net loss of $1.2 million, or $0.13 per diluted share in the prior year’s Q1. The company’s adjusted net loss was $7.1 million, or $0.52 per diluted share compared to a profit of $0.01 in the same period a year earlier. Analyst estimates were not available.
The stock neared a test of its $14.10 52-week low.