EXHIBIT 99.1
Houston, Texas
August 3, 2011
FOR IMMEDIATE RELEASE
EARNINGS
ATWOOD OCEANICS, INC., a Houston-based international drilling contractor (NYSE: ATW), announced today that the Company earned net income of $75,285,000 or $1.15 per diluted
share, on revenues of $162,147,000 for the quarter ended June 30, 2011 compared to net income of $70,611,000 or $1.08 per diluted share on revenues of $159,085,000 for the quarter ended
March 31, 2011 and compared to net income of $58,994,000 or $0.91 per diluted share, on revenues of $166,637,000 for the quarter ended June 30, 2010. For the nine months ended June 30,
2011, the Company earned net income of $198,747,000 or $3.04 per diluted share, on revenues of $467,518,000 compared to net income of $192,733,000 or $2.96 per diluted share, on revenues
of $489,949,000 for the nine months ended June 30, 2010.
Contact: Mark L. Mey
(281) 749-7902
| | | FOR THE THREE MONTHS ENDED |
| | | JUNE 30, 2011 | | | MARCH 31, 2011 | | | JUNE 30, 2010 | |
| | | | | | | | | | |
| Revenues | | $ | 162,147,000 | | | $ | 159,085,000 | | | $ | 166,637,000 | |
| Income before Income Taxes | | | 87,203,000 | | | | 90,485,000 | | | | 84,847,000 | |
| Provision for Income Taxes | | | (11,918,000 | ) | | | (19,874,000 | ) | | | (25,853,000 | ) |
| Net Income | | | 75,285,000 | | | | 70,611,000 | | | | 58,994,000 | |
| Earnings per Common Share - | | | | | | | | | | | | |
| Basic | | | 1.16 | | | | 1.09 | | | | 0.92 | |
| Diluted | | | 1.15 | | | | 1.08 | | | | 0.91 | |
| Weighted Average Shares | | | | | | | | | | | | |
| Outstanding - | | | | | | | | | | | | |
| Basic | | | 64,820,000 | | | | 64,720,000 | | | | 64,427,000 | |
| Diluted | | | 65,470,000 | | | | 65,409,000 | | | | 65,037,000 | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| | | FOR THE NINE MONTHS ENDED JUNE 30, | | | | |
| | | | 2011 | | | | 2010 | | | | | |
| | | | | | | | | | | | | |
| Revenues | | $ | 467,518,000 | | | $ | 489,949,000 | | | | | |
| Income before Income Taxes | | | 240,929,000 | | | | 243,120,000 | | | | | |
| Provision for Income Taxes | | | (42,182,000 | ) | | | (50,387,000 | ) | | | | |
| Net Income | | | 198,747,000 | | | | 192,733,000 | | | | | |
| Earnings per Common Share - | | | | | | | | | |
| Basic | | | 3.07 | | | | 2.99 | | | | | |
| Diluted | | | 3.04 | | | | 2.96 | | | | | |
| Weighted Average Shares | | | | | | | | | | | | |
| Outstanding - | | | | | | | | | | | | |
| Basic | | | 64,689,000 | | | | 64,375,000 | | | | | |
| Diluted | | | 65,355,000 | | | | 65,054,000 | | | | | |
