<SUBMISSION>
<ACCESSION-NUMBER>0000950134-03-007751
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20030513
<ITEMS>7
<ITEMS>9
<FILING-DATE>20030513
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>PETROLEUM HELICOPTERS INC
<CIK>0000350403
<ASSIGNED-SIC>4522
<IRS-NUMBER>720395707
<STATE-OF-INCORPORATION>LA
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-09827
<FILM-NUMBER>03695724
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2001 SE EVANGELINE THRUWAY
<STREET2>-
<CITY>LAFAYETTE
<STATE>LA
<ZIP>70508
<PHONE>-
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>PO BOX 90808
<CITY>LAFAYETTE
<STATE>LA
<ZIP>70509
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d05829e8vk.txt
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE>
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(d) OF THE
                       SECURITIES AND EXCHANGE ACT OF 1934

          Date of report (Date of earliest event reported) May 13, 2003
                                                           ---------------------

                           Petroleum Helicopters, Inc.
--------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in Its Charter)


                                    Louisiana
--------------------------------------------------------------------------------
                 (State of Other Jurisdiction of Incorporation)


        0-9827                                        72-0395707
--------------------------------------------------------------------------------
 (Commission File Number)                    (IRS Employer Identification No.)


 2001 SE Evangeline Thruway, Lafayette, LA               70508
--------------------------------------------------------------------------------
  (Address of Principal Executive Offices)              (Zip Code)


                                 (800) 235-2452
--------------------------------------------------------------------------------
              (Registrant's Telephone Number, Including Area Code)


                                       N/A
--------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)



<PAGE>


Item 9. Regulation FD Disclosure (provided under Item 12)

         On May 13, 2003, Registrant issued a press release announcing its first
quarter 2003 earnings. The Press Release is filed herewith as exhibit 99.1 and
is incorporated herein by reference.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits

         (c)  Exhibits

         Exhibit No.        Description

         99.1               Press Release dated May 13, 2003 announcing earnings
                            for first quarter 2003


                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                        Petroleum Helicopters, Inc. (Registrant)


         Date: May 13, 2003             By: /s/  Michael J. McCann
                                            ------------------------------------
                                            Name:  Michael J. McCann
                                            Title: Chief Financial Officer

<PAGE>


                                  EXHIBIT INDEX

<Table>
<Caption>
         Exhibit No.       Description
         -----------       -----------
<S>                        <C>
         99.1              Press Release dated May 13, 2003 announcing earnings
                           for first quarter 2003
</Table>




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d05829exv99w1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>


                                                                    EXHIBIT 99.1

                                                               NEWS RELEASE
                                                  CONTACT:     Michael J. McCann
                                                               CFO and Treasurer
                                                               (337) 235-2452

FOR IMMEDIATE RELEASE

PETROLEUM HELICOPTERS, INC. ANNOUNCES RESULTS
FOR THE FIRST QUARTER ENDED MARCH 31, 2003

--------------------------------------------------------------------------------

         LAFAYETTE, LA - May 13, 2003 - Petroleum Helicopters, Inc. (PHI) today
reported net earnings of $0.7 million ($0.13 per diluted share) on operating
revenues of $64.6 million for the three months ended March 31, 2003. For the
same period of 2002, the Company reported net earnings of $2.0 million ($0.38
per diluted share) on operating revenues of $68.2 million. There was significant
inclement weather encountered in the quarter ended March 31, 2003 as compared to
the prior year quarter in all of our U.S. operating areas which greatly reduced
flight times.

         Certain statements in this release constitute forward-looking
statements or statements which may be deemed or construed to be forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995. The words "forecast", "anticipate", "estimate", "project", intend",
expect", "should", "believe", and similar expressions are intended to identify
forward-looking statements. These forward-looking statements involve and are
subject to known and unknown risks, uncertainties and other factors which could
cause the Company's actual results, performance (financial or operating) or
achievements to differ from the future results, performance (financial or
operating) or achievements expressed or implied by such forward-looking
statements. The above factors are more fully discussed in the Company's SEC
filings.

         PHI provides helicopter transportation and related services to a broad
range of customers including the oil and gas industry, aeromedical programs and
the third-party maintenance business. PHI Common Stock is traded in The Nasdaq
SmallCap Market (symbols PHEL and PHELK).


                                      # # #


<PAGE>

Petroleum Helicopters, Inc. (Nasdaq Symbols PHEL and PHELK) released the
following earnings figures for the three months ended March 31, 2003. (All
figures, except per share data, are shown in thousands.)

<Table>
<Caption>
                                                           For the Quarter Ended
                                                                 March 31,
                                                           ---------------------
                                                             2003         2002
                                                           --------      -------
<S>                                                        <C>           <C>
Operating revenues                                         $ 64,607      $68,179
Gain on disposition of property and equipment                   918          563
Other                                                           133           66
                                                           --------      -------
                                                             65,658       68,808
                                                           --------      -------

Expenses:
   Direct expenses                                           54,575       59,414
   Selling, general and administrative                        4,902        4,713
   Interest expense                                           4,963        1,308
                                                           --------      -------
                                                             64,440       65,435
                                                           --------      -------

Earnings before income taxes                                  1,218        3,373

Income taxes                                                    487        1,345
                                                           --------      -------

Net earnings                                               $    731      $ 2,028
                                                           ========      =======

BASIC:
   Net earnings per common share                           $   0.14      $  0.38
                                                           ========      =======

DILUTED:
   Net earnings per common share                           $   0.13      $  0.38
                                                           ========      =======
</Table>



                                      # # #

</TEXT>
</DOCUMENT>
</SUBMISSION>
