Atwood Oceanics (ATW) Posts Q1 GAAP EPS of 60c

Atwood Oceanics (NYSE: ATW) reported Q1 EPS of $0.60, which may not compare with the analyst estimate of $1.13. Revenue for the quarter came in at $307.8 million versus the consensus estimate of $303.68 million.

During the quarter ended December 31, 2015, the Company recorded a non-cash impairment charge of approximately $64.7 million ($64.7 million, net of tax, or $1.00 per diluted share) related to the Atwood Falcon. Additionally, during the quarter ended December 31, 2015, we recorded other income of approximately $18 million ($18 million, net of tax, or $0.28 per diluted share) for expected insurance recoveries related to cyclone damage to the Atwood Osprey.

EPS was $1.32 excluding the adjustments.

For earnings history and earnings-related data on Atwood Oceanics (ATW) click here.

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