HOUSTON, Aug. 7 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc., Houston-based International Drilling Contractor, announced today that the Company earned net income of $32,033,000 or $1.00 per diluted share, on revenues of $98,371,000 for the quarter ended June 30, 2007, compared to net income of $32,791,000 or $1.04 per diluted share, on revenues of $71,865,000 for the quarter ended June 30, 2006. For the nine months ended June 30, 2007, the Company earned net income of $84,875,000 or $2.68 per diluted share, on revenues of $281,433,000 compared to net income of $62,943,000 or $2.00 per diluted share, on revenues of $194,808,000 for the nine months ended June 30, 2006. Earning results for the three months and nine months ended June 30, 2006 included the recognition of $6.4 million of tax benefits which increased diluted earnings per share by $0.20 for both periods.
FOR THE THREE MONTHS ENDED
JUNE 30,
2007 2006
Revenues $98,371,000 $71,865,000
Income before Income Taxes 36,569,000 28,606,000
(Provision) benefit for Income Taxes (4,536,000) 4,185,000
Net Income 32,033,000 32,791,000
Earnings per Common Share -
Basic 1.02 1.06
Diluted 1.00 1.04
Weighted Average Shares Outstanding -
Basic 31,491,000 31,037,000
Diluted 31,964,000 31,580,000
FOR THE NINE MONTHS ENDED
JUNE 30,
2007 2006
Revenues $281,433,000 $194,808,000
Income before Income Taxes 98,650,000 63,951,000
Provision for Income Taxes (13,775,000) (1,008,000)
Net Income 84,875,000 62,943,000
Earnings per Common Share -
Basic 2.72 2.04
Diluted 2.68 2.00
Weighted Average Shares Outstanding -
Basic 31,233,000 30,900,000
Diluted 31,718,000 31,411,000
