EXHIBIT 99.1
ATWOOD OCEANICS ANNOUNCE FOURTH QUARTER EARNINGS FOR FY2008
Houston, Texas
24 November 2008
FOR IMMEDIATE RELEASE
EARNINGS-
Atwood Oceanics, Inc., (NYSE: ATW) Houston-based International Drilling Contractor, announced today that the Company earned net income of $74,753,000 or $1.16 per diluted share, on revenues of $160,654,000 for the quarter ended September 30, 2008 compared to net income of $54,149,000 or $0.84 per diluted share, on revenues of $121,604,000 for the quarter ended September 30, 2007. For the twelve months ended September 30, 2008, the Company earned net income of $215,438,000 or $3.34 per diluted share, on revenues of $526,604,000 compared to net income of $139,024,000 or $2.18 per diluted share, on revenues of $403,037,000 for the twelve months ended September 30, 2007.
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| | | FOR THE THREE MONTHS ENDED | |
| | | SEPTEMBER 30, | |
| | | | | 2008 | | | 2007 | |
| | |
| Revenues | | | $ | 160,654,000 | | $ | 121,604,000 | |
| Income before Income Taxes | | | | 87,244,000 | | | 61,309,000 | |
| Provision for Income Taxes | | | | (12,491,000 | ) | | (7,160,000 | ) |
| Net Income | | | | 74,753,000 | | | 54,149,000 | |
| Earnings per Common Share - | | | | | | | | |
| Basic | | | | 1.17 | | | 0.85 | |
| Diluted | | | | 1.16 | | | 0.84 | |
| Weighted Average Shares | | | | | | | | |
| Outstanding - | | | | | | | | |
| Basic | | | | 64,031,000 | | | 63,346,000 | |
| Diluted | | | | 64,697,000 | | | 64,198,000 | |
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| | |
| | | FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, | |
| | | | | 2008 | | | 2007 | |
| | |
| Revenues | | | $ | 526,604,000 | | $ | 403,037,000 | |
| Income before Income Taxes | | | | 244,775,000 | | | 159,959,000 | |
| Provision for Income Taxes | | | | (29,337,000 | ) | | (20,935,000 | ) |
| Net Income | | | | 215,438,000 | | | 139,024,000 | |
| Earnings per Common Share - | | | | | | | | |
| Basic | | | | 3.38 | | | 2.22 | |
| Diluted | | | | 3.34 | | | 2.18 | |
| Weighted Average Shares | | | | | | | | |
| Outstanding - | | | | | | | | |
| Basic | | | | 63,756,000 | | | 62,686,000 | |
| Diluted | | | | 64,556,000 | | | 63,628,000 | |
