<SUBMISSION>
<ACCESSION-NUMBER>0000950134-03-015548
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20031117
<ITEMS>7
<FILING-DATE>20031117
<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>031007456
</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>d10740e8vk.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)    November 17, 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

<Table>
<Caption>
         Exhibit No.          Description
         -----------          -----------
<S>                           <C>

         99.1                 Press Release dated November 14, 2003 announcing
                              earnings for third quarter 2003
</Table>

Item 12. Results of Operations and Financial Condition.

         On November 14, 2003, Registrant issued a press release announcing its
third 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: November 17, 2003      By: /s/ Michael J. McCann
                                          --------------------------------
                                          Name:   Michael J. McCann
                                          Title:  Chief Financial Officer



                                  EXHIBIT INDEX

<Table>
<Caption>
         Exhibit No.          Description
         -----------          -----------
<S>                           <C>

         99.1                 Press Release dated November 14, 2003 announcing
                              earnings for third quarter 2003
</Table>




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>d10740exv99w1.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 THIRD QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2003

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

LAFAYETTE, LA -- November 14, 2003 -- Petroleum Helicopters, Inc. (PHI) today
reported net earnings of $0.06 million ($0.01 per diluted share) on operating
revenues of $69.6 million for the quarter ended September 30, 2003. For the same
period of 2002, the Company reported net earnings of $3.3 million ($0.61 per
diluted share) on operating revenues of $69.7 million. For the quarter ended
September 30, 2003, there was a decrease in flight hour activity in the Domestic
Oil and Gas segment due to a decrease in activity in the Gulf of Mexico as
compared to the same period prior year. Included in the results for the quarter
were pre-tax severance charges ($2.1 million) related to a reduction in the work
force, and additional insurance premium cost for the quarter ($2.0 million).

For the nine months ended September 30, 2003, net earnings were $1.4 million
($0.25 per diluted share) on operating revenues of $200.6 million. This compares
to net earnings of $6.9 million ($1.27 per diluted share) on operating revenues
of $209.0 million for the same nine-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
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
third quarter and nine months ended September 30, 2003.


<Table>
<Caption>
                                                     QUARTER ENDED            NINE MONTHS ENDED
                                                     SEPTEMBER 30,              SEPTEMBER 30,
                                                -----------------------    -----------------------
                                                   2003         2002          2003         2002
                                                ----------   ----------    ----------   ----------
<S>                                             <C>          <C>           <C>          <C>

Operating revenues                              $   69,640   $   69,663    $  200,586   $  208,978
Gain on disposition of property
    and equipment                                      273          (29)        1,711          819
Other                                                  165          159           553        1,251
                                                ----------   ----------    ----------   ----------
                                                    70,078       69,793       202,830      211,048
                                                ----------   ----------    ----------   ----------

Expenses:
    Direct expenses                                 59,952       55,244       170,758      173,165
    Selling, general, and
        administrative expenses                      5,048        4,035        14,786       14,067
     Interest expense                                4,984        4,995        14,972       12,286
                                                ----------   ----------    ----------   ----------
                                                    69,984       64,274       200,516      199,518
                                                ----------   ----------    ----------   ----------

Earnings before income taxes                            94        5,519         2,314       11,530

Income taxes                                            38        2,209           925        4,612
                                                ----------   ----------    ----------   ----------

Net earnings                                    $       56   $    3,310    $    1,389   $    6,918
                                                ==========   ==========    ==========   ==========

Weighted average common shares outstanding:
    Basic                                            5,383        5,362         5,383        5,320
    Diluted                                          5,486        5,461         5,476        5,427

Net earnings per common share:
    Basic                                       $     0.01   $     0.62    $     0.26   $     1.30
    Diluted                                     $     0.01   $     0.61    $     0.25   $     1.27
</Table>


                                      # # #


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