HOUSTON, July 28 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc. , Houston-based International Drilling Contractor, announced today that the Company earned net income of $27,623,000 or $.87 per diluted share, on revenues of $71,565,000 for the quarter ended June 30, 2006, compared to net income of $5,989,000 or $.19 per diluted share, on revenues of $43,589,000 for the quarter ended June 30, 2005. For the nine months ended June 30, 2006, the Company earned net income of $57,775,000 or $1.84 per diluted share, on revenues of $194,508,000 compared to net income of $19,350,000 or $.62 per diluted share, on revenues of $130,032,000 for the nine months ended June 30, 2005.
Net income for the quarter and nine months ended June 30, 2006 was enhanced by approximately $1.9 million or $.06 per diluted share from income tax benefits discrete to the June 2006 quarter and by approximately $1.1 million or $0.03 per diluted share from the gains on sales of excess equipment.
FOR THE THREE MONTHS ENDED
JUNE 30,
2006 2005
Revenues $71,565,000 $43,589,000
Income before Income Taxes 28,763,000 5,933,000
(Provision) benefit for Income Taxes (1,140,000) 56,000
Net Income 27,623,000 5,989,000
Earnings per Common Share -
Basic 0.89 0.20
Diluted 0.87 0.19
Weighted Average Shares Outstanding -
Basic 31,037,000 30,484,000
Diluted 31,583,000 31,300,000
FOR THE NINE MONTHS ENDED
JUNE 30,
2006 2005
Revenues $194,508,000 $130,032,000
Income before Income Taxes 64,108,000 20,176,000
Provision for Income Taxes (6,333,000) (826,000)
Net Income 57,775,000 19,350,000
Earnings per Common Share -
Basic 1.87 0.64
Diluted 1.84 0.62
Weighted Average Shares Outstanding -
Basic 30,900,000 30,356,000
Diluted 31,412,000 31,144,000
