EXHIBIT 99.1
Houston, Texas
8 May 2008
FOR IMMEDIATE RELEASE
EARNINGS-
Atwood Oceanics, Inc., (NYSE: ATW) Houston-based International Drilling Contractor, announced today that the Company earned net income of $41,755,000 or $1.30 per diluted share, on revenues of $113,530,000 for the quarter ended March 31, 2008 compared to net income of $31,757,000 or $1.01 per diluted share, on revenues of $94,262,000 for the quarter ended March 31, 2007. For the six months ended March 31, 2008, the Company earned net income of $80,304,000 or $2.49 per diluted share, on revenues of $224,578,000 compared to net income of $52,842,000 or $1.67 per diluted share, on revenues of $183,062,000 for the six months ended March 31, 2007.
FOR THE THREE MONTHS ENDED MARCH 31, | |||
2008 | 2007 | ||
Revenues | $ 113,530,000 | $ 94,262,000 | |
Income before Income Taxes | 46,354,000 | 37,618,000 | |
Provision for Income Taxes | (4,599,000) | (5,861,000) | |
Net Income | 41,755,000 | 31,757,000 | |
Earnings per Common Share - | |||
Basic | 1.31 | 1.02 | |
Diluted | 1.30 | 1.01 | |
Weighted Average Shares | |||
Outstanding - | |||
Basic | 31,801,000 | 31,148,000 | |
Diluted | 32,214,000 | 31,577,000 | |
FOR THE SIX MONTHS ENDED MARCH 31, | |||
2008 | 2007 | ||
Revenues | $ 224,578,000 | $ 183,062,000 | |
Income before Income Taxes | 89,465,000 | 62,081,000 | |
Provision for Income Taxes | (9,161,000) | (9,239,000) | |
Net Income | 80,304,000 | 52,842,000 | |
Earnings per Common Share - | |||
Basic | 2.53 | 1.70 | |
Diluted | 2.49 | 1.67 | |
Weighted Average Shares | |||
Outstanding - | |||
Basic | 31,743,000 | 31,104,000 | |
Diluted | 32,188,000 | 31,595,000 | |
Contact: Jim Holland
281-749-7804
