EXHIBIT 99.2
ATWOOD OCEANICS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Three Months Ended Six Months Ended
March 31, March 31,
-------------------- ----------------------
2007 2006 2007 2006
---- ---- ---- ----
REVENUES:
Contract drilling $ 94,262 $ 67,529 $ 180,504 $ 122,943
Business interruption proceeds - - 2,558 -
-------- -------- --------- ---------
94,262 67,529 183,062 122,943
-------- -------- --------- ---------
COSTS AND EXPENSES:
Contract drilling 43,617 37,270 92,727 71,040
Depreciation 8,329 6,207 16,344 12,597
General and administrative 4,851 4,605 12,042 10,598
Gain on sale of equipment (137) - (184) (9,275)
-------- -------- --------- ---------
56,660 48,082 120,929 84,960
-------- -------- --------- ---------
OPERATING INCOME 37,602 19,447 62,133 37,983
-------- -------- --------- ---------
OTHER INCOME (EXPENSE)
Interest expense, net of capitalized interest (388) (1,467) (925) (3,207)
Interest income 404 338 873 569
-------- -------- --------- ---------
16 (1,129) (52) (2,638)
-------- -------- --------- ---------
INCOME BEFORE INCOME TAXES 37,618 18,318 62,081 35,345
PROVISION FOR INCOME TAXES 5,861 2,689 9,239 5,193
--------- -------- --------- ---------
NET INCOME $31,757 $15,629 $52,842 $30,152
========= ======== ========= =========
EARNINGS PER COMMON SHARE:
Basic 1.02 0.51 1.70 0.98
Diluted 1.01 0.50 1.67 0.96
AVERAGE COMMON SHARES OUTSTANDING:
Basic 31,148 30,926 31,104 30,832
Diluted 31,577 31,446 31,595 31,327