EXHIBIT 99.1
Houston, Texas
7 August 2008
FOR IMMEDIATE RELEASE
EARNINGS-
Atwood Oceanics, Inc., (NYSE: ATW) Houston-based International Drilling Contractor, announced today that the Company earned net income of $60,381,000 or $0.93 per diluted share, on revenues of $141,372,000 for the quarter ended June 30, 2008 compared to net income of $32,033,000 or $0.50 per diluted share, on revenues of $98,371,000 for the quarter ended June 30, 2007. For the nine months ended June 30, 2008, the Company earned net income of $140,685,000 or $2.18 per diluted share, on revenues of $365,950,000 compared to net income of $84,875,000 or $1.34 per diluted share, on revenues of $281,433,000 for the nine months ended June 30, 2007.
| | FOR THE THREE MONTHS ENDED JUNE 30, |
| | 2008 | | 2007 |
| | | | |
Revenues | $ 141,372,000 | | $ 98,371,000 |
Income before Income Taxes | 68,066,000 | | 36,569,000 |
Provision for Income Taxes | (7,685,000) | | (4,536,000) |
Net Income | 60,381,000 | | 32,033,000 |
Earnings per Common Share - | | | |
Basic | 0.94 | | 0.51 |
Diluted | 0.93 | | 0.50 |
Weighted Average Shares | | | |
Outstanding - | | | |
Basic | 64,023,000 | | 62,982,000 |
Diluted | 64,776,000 | | 63,928,000 |
| | | | |
| | | | |
| | FOR THE NINE MONTHS ENDED JUNE 30, |
| | 2008 | | 2007 |
| | | | |
Revenues | $ 365,950,000 | | $ 281,433,000 |
Income before Income Taxes | 157,531,000 | | 98,650,000 |
Provision for Income Taxes | (16,846,000) | | (13,775,000) |
Net Income | 140,685,000 | | 84,875,000 |
Earnings per Common Share - | | | |
Basic | 2.21 | | 1.36 |
Diluted | 2.18 | | 1.34 |
Weighted Average Shares | | | |
Outstanding - | | | |
Basic | 63,665,000 | | 62,466,000 |
Diluted | 64,509,000 | | 63,436,000 |
Contact: Jim Holland
(281) 749-7804
