Atwood Oceanics Announces Fourth Quarter Earnings for FY2008

November 24, 2008 5:14 PM EST

HOUSTON, Nov. 24 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc., (NYSE: ATW) Houston-based International Drilling Contractor, announced today that the Company earned net income of $74,753,000 or $1.16 per diluted share, on revenues of $160,654,000 for the quarter ended September 30, 2008 compared to net income of $54,149,000 or $0.84 per diluted share, on revenues of $121,604,000 for the quarter ended September 30, 2007. For the twelve months ended September 30, 2008, the Company earned net income of $215,438,000 or $3.34 per diluted share, on revenues of $526,604,000 compared to net income of $139,024,000 or $2.18 per diluted share, on revenues of $403,037,000 for the twelve months ended September 30, 2007.

                                                FOR THE THREE MONTHS ENDED
                                                       SEPTEMBER 30,
                                                  2008              2007

    Revenues                                  $160,654,000      $121,604,000
    Income before Income Taxes                  87,244,000        61,309,000
    Provision for Income Taxes                 (12,491,000)       (7,160,000)
    Net Income                                  74,753,000        54,149,000
    Earnings per Common Share -
          Basic                                       1.17              0.85
          Diluted                                     1.16              0.84
    Weighted Average Shares Outstanding -
          Basic                                 64,031,000        63,346,000
          Diluted                               64,697,000        64,198,000



                                                FOR THE TWELVE MONTHS ENDED
                                                       SEPTEMBER 30,
                                                  2008              2007

    Revenues                                  $526,604,000      $403,037,000
    Income before Income Taxes                 244,775,000       159,959,000
    Provision for Income Taxes                 (29,337,000)      (20,935,000)
    Net Income                                 215,438,000       139,024,000
    Earnings per Common Share -
          Basic                                       3.38              2.22
          Diluted                                     3.34              2.18
    Weighted Average Shares Outstanding -
          Basic                                 63,756,000        62,686,000
          Diluted                               64,556,000        63,628,000

SOURCE Atwood Oceanics, Inc.

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