EXHIBIT 99.1
Houston, Texas
8 May 2007
FOR IMMEDIATE RELEASE
ATWOOD OCEANICS, INC., Houston-based International Drilling Contractor,
announced today that the Company earned net income of $31,757,000 or $1.01 per
diluted share, on revenues of $94,262,000 for the quarter ended March 31, 2007,
compared to net income of $15,629,000 or $.50 per diluted share, on revenues of
$67,529,000 for the quarter ended March 31, 2006. For the six months ended March
31, 2007, the Company earned net income of $52,842,000 or $1.67 per diluted
share, on revenues of $183,062,000 compared to net income of $30,152,000 or $.96
per diluted share, on revenues of $122,943,000 for the six months ended March
31, 2006.
FOR THE THREE MONTHS ENDED MARCH 31,
2007 2006
----------------- ------------------
Revenues $ 94,262,000 $ 67,529,000
Income before Income Taxes 37,618,000 18,318,000
Provision for Income Taxes (5,861,000) (2,689,000)
Net Income 31,757,000 15,629,000
Earnings per Common Share -
Basic 1.02 0.51
Diluted 1.01 0.50
Weighted Average Shares
Outstanding -
Basic 31,148,000 30,926,000
Diluted 31,577,000 31,446,000
FOR THE SIX MONTHS ENDED MARCH 31,
2007 2006
----------------- ------------------
Revenues $ 183,062,000 $ 122,943,000
Income before Income Taxes 62,081,000 35,345,000
Provision for Income Taxes (9,239,000) (5,193,000)
Net Income 52,842,000 30,152,000
Earnings per Common Share -
Basic 1.70 0.98
Diluted 1.67 0.96
Weighted Average Shares
Outstanding -
Basic 31,104,000 30,832,000
Diluted 31,595,000 31,327,000
Contact: Jim Holland
(281) 749-7804