Atwood Announces Earnings and Contract for Atwood Southern Cross
November 28 2007 - 4:00PM
PR Newswire (US)
EARNINGS- HOUSTON, Nov. 28 /PRNewswire-FirstCall/ -- Atwood
Oceanics, Inc., (NYSE:ATW), Houston-based International Drilling
Contractor, announced today that the Company earned net income of
$54,149,000 or $1.69 per diluted share, on revenues of $121,604,000
for the quarter ended September 30, 2007, compared to net income of
$23,179,000 or $0.74 per diluted share, on revenues of $81,817,000
for the quarter ended September 30, 2006. For the fiscal year ended
September 30, 2007, the Company earned net income of $139,024,000
or $4.37 per diluted share, on revenues of $403,037,000 compared to
net income of $86,122,000 or $2.74 per diluted share, on revenues
of $276,625,000 for the fiscal year ended September 30, 2006. FOR
THE THREE MONTHS ENDED SEPTEMBER 30, 2007 2006 Revenues
$121,604,000 $81,817,000 Income before Income Taxes 61,309,000
27,885,000 (Provision) Benefit for Income Taxes (7,160,000)
(4,706,000) Net Income 54,149,000 23,179,000 Earnings per Common
Share - Basic 1.71 0.75 Diluted 1.69 0.74 Weighted Average Shares
Outstanding - Basic 31,673,000 31,044,000 Diluted 32,099,000
31,534,000 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2007 2006
Revenues $403,037,000 $276,625,000 Income before Income Taxes
159,959,000 91,836,000 (Provision) Benefit for Income Taxes
(20,935,000) (5,714,000) Net Income 139,024,000 86,122,000 Earnings
per Common Share - Basic 4.44 2.78 Diluted 4.37 2.74 Weighted
Average Shares Outstanding - Basic 31,343,000 30,936,000 Diluted
31,814,000 31,442,000 NEW CONTRACT AWARDED TO ATWOOD SOUTHERN CROSS
- Atwood Oceanics, Inc. also announced that the ATWOOD SOUTHERN
CROSS, owned and operated by our wholly owned subsidiary Atwood
Oceanics Pacific Limited, has been awarded a contract by ENI Spa
AGIP Exploration & Production Division ("ENI") to drill two (2)
wells plus options for two (2) additional wells. The contract
provides for an operating dayrate of $406,000. The drilling of the
two (2) firm wells is estimated to take one hundred-fifty (150)
days to complete and if both option wells are drilled, the contract
could extend another ninety (90) days. This contract will commence
immediately upon the rig completing its current contract
commitments with Melrose Resources and Turkiye Petrolleri A.O.
("TPAO") (estimated February 2008). The contract provides that ENI
will provide the tow vessel to move the rig to its drilling site
and pay a dayrate of $365,000 during the mobilization period
(estimated ten (10) days), as well as pay a dayrate of $395,000
while the rig is being certified by Italian authorities (estimated
ten (10) days) prior to commencing drilling operations. DATASOURCE:
Atwood Oceanics, Inc. CONTACT: Jim Holland, +1-281-749-7804, for
Atwood Oceanics, Inc. Web site: http://www.atwd.com/
Copyright
Atwood Oceanics (NYSE:ATW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Atwood Oceanics (NYSE:ATW)
Historical Stock Chart
From Jul 2023 to Jul 2024