Rocky Mountain Helicopters Inc. reported net income of $1.36 million or 52 cents per share on revenues of $19.99 million for the quarter ended July 31, down from income of $1.88 million on revenues of $17.48 million for the same period a year earlier.

Operating income before gain on equipment sales increased $142,000 or 12 percent over the same quarter of the previous year while gains on equipment sales decreased $443,000, resulting in a net decrease in pretax income of $301,000.