<SUBMISSION>
<ACCESSION-NUMBER>0000950134-03-011994
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20030818
<ITEMS>12
<ITEMS>7
<FILING-DATE>20030818
<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>03853384
</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>d08428e8vk.txt
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE>
                                 UNITED STATES
                       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) August 18, 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 7. Financial Statements, Pro Forma Financial Information and Exhibits

         (a) Financial Statements of Business Acquired.

             None.

         (b) Pro Forma Financial Information.

             None.

         (c) Exhibits


          Exhibit No.            Description
         ------------            ------------

         99.1                    Press Release dated August 18, 2003 announcing
                                 earnings for second quarter 2003

Item 12. Results of Operations and Financial Condition.

         On August, 18, 2003, Registrant issued a press release announcing its
second quarter 2003 earnings. The Press Release is filed herewith as exhibit
99.1 and is incorporated herein by reference.



                                   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: August 18, 2003                   By: /s/  Michael J. McCann
                                            ------------------------------------
                                        Name:  Michael J. McCann
                                        Title: Chief Financial Officer



                                  EXHIBIT INDEX

<Table>
<Caption>
         EXHIBIT
         NUMBER                  DESCRIPTION
         -------                 ------------

<S>                              <C>
         99.1                    Press Release dated August 18, 2003 announcing
                                 earnings for second quarter 2003
</Table>




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d08428exv99w1.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 SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2003
--------------------------------------------------------------------------------
LAFAYETTE, LA -- August 18, 2003 -- Petroleum Helicopters, Inc. (PHI) today
reported net earnings of $0.6 million ($0.11 per diluted share) on operating
revenues of $66.3 million for the quarter ended June 30, 2003. For the same
period of 2002, the Company reported net earnings of $1.6 million ($0.29 per
diluted share) on operating revenues of $71.1 million.

For the six months ended June 30, 2003, net earnings were $1.3 million ($0.24
per diluted share) on operating revenues of $130.9 million. This compares to net
earnings of $3.6 million ($0.67 per diluted share) on operating revenues of
$139.3 million for the same six-month period in 2002.

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, air medical programs and the
third-party maintenance business. PHI Common Stock is traded on The Nasdaq
SmallCap Market (symbols PHEL and PHELK).

                                      # # #


<PAGE>

Petroleum Helicopters, Inc. released the following earnings figures for the
second quarter and six months ended June 30, 2003.

<Table>
<Caption>
                                                    QUARTER ENDED JUNE 30,          SIX MONTHS ENDED JUNE 30,
                                                -----------------------------     -----------------------------
                                                    2003             2002             2003             2002
                                                ------------     ------------     ------------     ------------

<S>                                             <C>              <C>              <C>              <C>
Operating revenues                              $     66,339     $     71,136     $    130,946     $    139,315
Gain on disposition of property
    and equipment                                        520              285            1,438              848
Other                                                    235            1,026              368            1,092
                                                ------------     ------------     ------------     ------------
                                                      67,094           72,447          132,752          141,255
                                                ------------     ------------     ------------     ------------

Expenses:
    Direct expenses                                   56,230           58,507          110,805          117,921
    Selling, general, and
        administrative expenses                        4,836            5,319            9,738           10,032
     Interest expense                                  5,025            5,983            9,988            7,291
                                                ------------     ------------     ------------     ------------
                                                      66,091           69,809          130,531          135,244
                                                ------------     ------------     ------------     ------------

Earnings before income taxes                           1,003            2,638            2,221            6,011

Income taxes                                             401            1,058              888            2,403
                                                ------------     ------------     ------------     ------------

Net earnings                                    $        602     $      1,580     $      1,333     $      3,608
                                                ============     ============     ============     ============

Weighted average common shares outstanding:
    Basic                                              5,383            5,319            5,383            5,299
    Diluted                                            5,486            5,434            5,476            5,410

Net earnings per common share:
    Basic                                       $       0.11     $       0.30     $       0.25     $       0.68
    Diluted                                     $       0.11     $       0.29     $       0.24     $       0.67
</Table>

                                      # # #






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