Atwood Oceanics Reports Record Revenues and Net Income

Atwood Oceanics has reported a net income of $95.5 million on revenues of $252.5 million for the quarter ended September 30, 2012, which is an increase when compared to net income of $72.9 million, on revenues of $177.6 million for the same period in 2011.

For the twelve months ended September 30, 2012, the Houston-based offshore drilling contractor earned net income of $272.2 million or $4.14 per diluted share, on revenues of $787.4 million compared to net income of $271.7 million or $4.15 per diluted share, on revenues of $645.1 million for the twelve months ended September 30, 2011.

Rob Saltiel, President & CEO, commented, “We had an outstanding fourth quarter and full fiscal year, achieving record revenues and net income for our company in both time periods. For the quarter, our rig teams achieved excellent operational and safety performance that yielded strong revenue recognition, while our fleet transformation progressed with the successful delivery and start-up of the Atwood Mako and the successful delivery and mobilization of the Atwood Condor to the Gulf of Mexico. We also secured our first drilling services agreement for the Atwood Advantage, and we committed to build a third ultra-deepwater drillship to join our growing high-specification rig fleet.”

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November 16, 2012