EXHIBIT 99.1
Houston, Texas
18 November 2010
FOR IMMEDIATE RELEASE
EARNINGS-
ATWOOD OCEANICS, INC., Houston-based international drilling contractor, announced today that the Company earned net income of $64,229,000 or $0.99 per diluted share, on revenues of $160,613,000 for the quarter ended September 30, 2010 compared to net income of $48,284,000 or $0.75 per diluted share, on revenues of $131,044,000 for the quarter ended September 30, 2009. For the twelve months ended September 30, 2010, the Company earned net income of $256,996,000 or $3.95 per diluted share, on revenues of $650,562,000 compared to net income of $250,745,000 or $3.89 per diluted share, on revenues of $586,507,000 for the twelve months ended September 30, 2009.
| | FOR THE THREE MONTHS ENDED SEPTEMBER 30, | |
| | 2010 | | | 2009 | |
| | | | | | |
| Revenues | $ | 160,613,000 | | | $ | 131,044,000 | |
| Income before Income Taxes | | 76,859,000 | | | | 59,438,000 | |
| Provision for Income Taxes | | (12,630,000 | ) | | | (11,154,000 | ) |
| Net Income | | 64,229,000 | | | | 48,284,000 | |
| Earnings per Common Share - | | | | | | | |
| Basic | | 1.00 | | | | 0.75 | |
| Diluted | | 0.99 | | | | 0.75 | |
| Weighted Average Shares | | | | | | | |
| Outstanding - | | | | | | | |
| Basic | | 64,439,000 | | | | 64,212,000 | |
| Diluted | | 64,951,000 | | | | 64,786,000 | |
| | | | | | | | |
| | | | | | | | |
| | FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, | |
| | | 2010 | | | | 2009 | |
| | | | | | | | |
| Revenues | $ | 650,562,000 | | | $ | 586,507,000 | |
| Income before Income Taxes | | 319,979,000 | | | | 296,431,000 | |
| Provision for Income Taxes | | (62,983,000 | ) | | | (45,686,000 | ) |
| Net Income | | 256,996,000 | | | | 250,745,000 | |
| Earnings per Common Share - | | | | | | | |
| Basic | | 3.99 | | | | 3.91 | |
| Diluted | | 3.95 | | | | 3.89 | |
| Weighted Average Shares | | | | | | | |
| Outstanding - | | | | | | | |
| Basic | | 64,391,000 | | | | 64,167,000 | |
| Diluted | | 65,028,000 | | | | 64,493,000 | |
