Aug. 4, 2010 (PR Newswire) --
HOUSTON, Aug. 4 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc. (NYSE: ATW), Houston-based international drilling contractor, announced today that the Company earned 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 compared to net income of $67,671,000 or $1.05 per diluted share, on revenues of $149,307,000 for the quarter ended June 30, 2009. For the nine months ended June 30, 2010, the Company earned net income of $192,733,000 or $2.96 per diluted share, on revenues of $489,949,000 compared to net income of $202,461,000 or $3.14 per diluted share, on revenues of $455,463,000 for the nine months ended June 30, 2009. Diluted earnings per share for the three and nine months ended June 30, 2010 have been reduced by approximately $0.21 primarily due to the recording of a valuation allowance on deferred tax assets related to United States net operating loss carryforwards and share-based compensation expense.
FOR THE THREE MONTHS ENDED JUNE 30, | ||||
2010 | 2009 | |||
Revenues | $166,637,000 | $149,307,000 | ||
Income before Income Taxes | 84,847,000 | 73,744,000 | ||
Provision for Income Taxes | (25,853,000) | (6,073,000) | ||
Net Income | 58,994,000 | 67,671,000 | ||
Earnings per Common Share - | ||||
Basic | 0.92 | 1.05 | ||
Diluted | 0.91 | 1.05 | ||
Weighted Average Shares | ||||
Outstanding - | ||||
Basic | 64,427,000 | 64,190,000 | ||
Diluted | 65,037,000 | 64,617,000 | ||
FOR THE NINE MONTHS ENDED JUNE 30, | ||||
2010 | 2009 | |||
Revenues | $489,949,000 | $455,463,000 | ||
Income before Income Taxes | 243,120,000 | 236,993,000 | ||
Provision for Income Taxes | (50,387,000) | (34,532,000) | ||
Net Income | 192,733,000 | 202,461,000 | ||
Earnings per Common Share - | ||||
Basic | 2.99 | 3.16 | ||
Diluted | 2.96 | 3.14 | ||
Weighted Average Shares | ||||
Outstanding - | ||||
Basic | 64,375,000 | 64,152,000 | ||
Diluted | 65,054,000 | 64,395,000 | ||
SOURCE Atwood Oceanics, Inc.
