HOUSTON, Aug. 4
/PRNewswire-FirstCall/ -- Atwood Oceanics, Inc. (NYSE:
ATW), Houston-based international
drilling contractor, announced today that the Company earned net
income of $58,994,000 or $0.91 per diluted share, on revenues of
$166,637,000 for the quarter ended
June 30, 2010 compared to net income
of $67,671,000 or $1.05 per diluted share, on revenues of
$149,307,000 for the quarter ended
June 30, 2009. For the nine
months ended June 30, 2010, the
Company earned net income of $192,733,000 or $2.96 per diluted share, on revenues of
$489,949,000 compared to net income
of $202,461,000 or $3.14 per diluted share, on revenues of
$455,463,000 for the nine months
ended June 30, 2009. Diluted
earnings per share for the three and nine months ended June 30, 2010 have been reduced by approximately
$0.21 primarily due to the recording
of a valuation allowance on deferred tax assets related to
United States net operating loss
carryforwards and share-based compensation expense.
|
FOR THE THREE MONTHS ENDED JUNE
30,
|
|
|
2010
|
|
2009
|
|
|
|
|
|
|
Revenues
|
$166,637,000
|
|
$149,307,000
|
|
Income before Income
Taxes
|
84,847,000
|
|
73,744,000
|
|
Provision for Income
Taxes
|
(25,853,000)
|
|
(6,073,000)
|
|
Net Income
|
58,994,000
|
|
67,671,000
|
|
Earnings per Common Share
-
|
|
|
|
|
Basic
|
0.92
|
|
1.05
|
|
Diluted
|
0.91
|
|
1.05
|
|
Weighted Average Shares
|
|
|
|
|
Outstanding -
|
|
|
|
|
Basic
|
64,427,000
|
|
64,190,000
|
|
Diluted
|
65,037,000
|
|
64,617,000
|
|
|
|
|
|
|
|
|
|
|
|
|
FOR THE NINE MONTHS ENDED JUNE
30,
|
|
|
2010
|
|
2009
|
|
|
|
|
|
|
Revenues
|
$489,949,000
|
|
$455,463,000
|
|
Income before Income
Taxes
|
243,120,000
|
|
236,993,000
|
|
Provision for Income
Taxes
|
(50,387,000)
|
|
(34,532,000)
|
|
Net Income
|
192,733,000
|
|
202,461,000
|
|
Earnings per Common Share
-
|
|
|
|
|
Basic
|
2.99
|
|
3.16
|
|
Diluted
|
2.96
|
|
3.14
|
|
Weighted Average Shares
|
|
|
|
|
Outstanding -
|
|
|
|
|
Basic
|
64,375,000
|
|
64,152,000
|
|
Diluted
|
65,054,000
|
|
64,395,000
|
|
|
|
|
|
SOURCE Atwood Oceanics, Inc.
Copyright g. 4 PR Newswire