EXHIBIT 99.1
Houston, Texas
4 May 2010
FOR IMMEDIATE RELEASE
EARNINGS-
ATWOOD OCEANICS, INC., Houston-based International Drilling Contractor, announced today that the Company earned net income of $66,755,000 or $1.03 per diluted share, on revenues of $159,069,000 for the quarter ended March 31, 2010 compared to net income of $56,427,000 or $0.88 per diluted share, on revenues of $140,652,000 for the quarter ended March 31, 2009. For the six months ended March 31, 2010, the Company earned net income of $133,739,000 or $2.06 per diluted share, on revenues of $323,312,000 compared to net income of $134,790,000 or $2.10 per diluted share, on revenues of $306,156,000 for the six months ended March 31, 2009.
| | FOR THE THREE MONTHS ENDED MARCH 31, |
| | 2010 | | 2009 |
| | | | |
| Revenues | $ 159,069,000 | | $ 140,652,000 |
| Income before Income Taxes | 77,018,000 | | 71,533,000 |
| Provision for Income Taxes | (10,263,000) | | (15,106,000) |
| Net Income | 66,755,000 | | 56,427,000 |
| Earnings per Common Share - | | | |
| Basic | 1.04 | | 0.88 |
| Diluted | 1.03 | | 0.88 |
| Weighted Average Shares | | | |
| Outstanding - | | | |
| Basic | 64,396,000 | | 64,186,000 |
| Diluted | 65,103,000 | | 64,235,000 |
| | | | |
| | | | |
| | FOR THE SIX MONTHS ENDED MARCH 31, |
| | 2010 | | 2009 |
| | | | |
| Revenues | $ 323,312,000 | | $ 306,156,000 |
| Income before Income Taxes | 158,273,000 | | 163,249,000 |
| Provision for Income Taxes | (24,534,000) | | (28,459,000) |
| Net Income | 133,739,000 | | 134,790,000 |
| Earnings per Common Share - | | | |
| Basic | 2.08 | | 2.10 |
| Diluted | 2.06 | | 2.10 |
| Weighted Average Shares | | | |
| Outstanding - | | | |
| Basic | 64,349,000 | | 64,134,000 |
| Diluted | 65,063,000 | | 64,284,000 |
