-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Lad3ckRYj4v2tqsfR2fMOwcp/JNShnDWcpxTgh1n/SoVNrNorK69kYiU/ilsA7X0 z/GDD3RKjf8Lkbq9ZBUVpg== 0000008411-07-000018.txt : 20070206 0000008411-07-000018.hdr.sgml : 20070206 20070206172051 ACCESSION NUMBER: 0000008411-07-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20070206 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070206 DATE AS OF CHANGE: 20070206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ATWOOD OCEANICS INC CENTRAL INDEX KEY: 0000008411 STANDARD INDUSTRIAL CLASSIFICATION: DRILLING OIL & GAS WELLS [1381] IRS NUMBER: 741611874 STATE OF INCORPORATION: TX FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13167 FILM NUMBER: 07585362 BUSINESS ADDRESS: STREET 1: 15835 PARK TEN PL DR STREET 2: SUITE 200 CITY: HOUSTON STATE: TX ZIP: 77084 BUSINESS PHONE: 2817497845 MAIL ADDRESS: STREET 1: 15835 PARK TEN PL DR STREET 2: SUITE 200 CITY: HOUSTON STATE: TX ZIP: 77084 8-K 1 f8kfeb62007.txt - ------------------------------------------------------------------------------- WASHINGTON, D.C. 20549 ------------ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF EARLIEST EVENT REPORTED: February 6, 2007 ATWOOD OCEANICS, INC. (Exact name of registrant as specified in its charter) COMMISSION FILE NUMBER 1-13167 Internal Revenue Service - Employer Identification No. 74-1611874 15835 Park Ten Place Drive, Houston, Texas, 77084 (281) 749-7800 ------------ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) =============================================================================== -1- ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION On February 6, 2007, the Company announced its earnings for the Fiscal Year 2007 First Quarter ended December 31, 2006. A copy of the press release summarizing these earnings is filed with this Form 8-K as Exhibit 99.1 and is incorporated herein by reference. Additional information with respect to the Company's consolidated statements of operations for the three months ended December 31, 2006 and 2005 and an analysis of revenues and contract drilling costs for the three months ended December 31, 2006 are attached hereto as Exhibits 99.2 and 99.3, respectively, which are being furnished; however, should not be deemed to be filed under Section 18 of the Exchange Act. Statements contained in this report with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors including; the Company's dependence on the oil and gas industry; the risks involved the construction of a rig; competition; operating risks; risks involved in foreign operations; risks associated with possible disruption in operations due to terrorism; risks associated with a possible disruption in operations due to a war with Iraq; and governmental regulations and environmental matters. A list of additional risk factors can be found in the Company's annual report on Form 10-K for the year ended September 30, 2006, filed with the Securities and Exchange Commission. ITEM 9.01 EXHIBITS EXHIBIT 99.1 PRESS RELEASE DATED FEBRUARY 6, 2007 EXHIBIT 99.2 CONSOLIDATED STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED DECEMBER 31, 2006 AND 2005 EXHIBIT 99.3 ANALYSIS OF REVENUES AND CONTRACT DRILLING COSTS FOR THE THREE MONTHS ENDED DECEMBER 30, 2006 -2- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ATWOOD OCEANICS, INC. (Registrant) /s/ James M. Holland James M. Holland Senior Vice President DATE: February 6, 2007 -3- EXHIBIT INDEX EXHIBIT NO. DESCRIPTION 99.1 Press Release dated February 6, 2007 99.2 Consolidated Statements of Operations for the Three Months ended December 31, 2006 and 2005 99.3 Analysis of Revenues and Drilling Costs for the Three Months ended December 31, 2006 -4- EX-99 2 exh991.txt EXHIBIT 99.1 PRESS RELEASE EXHIBIT 99.1 Houston, Texas 6 February 2007 FOR IMMEDIATE RELEASE ATWOOD OCEANICS, INC., Houston-based International Drilling Contractor, announced today that the Company earned net income of $21,085,000 or $.67 per diluted share, on revenues of $88,800,000 for the quarter ended December 31, 2006, compared to net income of $14,523,000 or $.47 per diluted share, on revenues of $55,414,000 for the quarter ended December 31, 2005. FOR THE THREE MONTHS ENDED DECEMBER 31, 2006 2005 -------------- ---------------- Revenues $ 88,800,000 $ 55,414,000 Income before Income Taxes 24,463,000 17,027,000 Provision for Income Taxes (3,378,000) (2,504,000) Net Income 21,085,000 14,523,000 Earnings per Common Share - Basic 0.68 0.47 Diluted 0.67 0.47 Weighted Average Shares Outstanding - Basic 31,060,000 30,738,000 Diluted 31,614,000 31,208,000 Contact: Jim Holland (281) 749-7804 EX-99 3 exh992.txt EXHIBIT 99.2 EXHIBIT 99.2 ATWOOD OCEANICS, INC. AND SUBSIDIARIES UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) Three Months Ended December 31, ------------------------- 2006 2005 -------- ------- REVENUES: Contract drilling $ 86,242 $ 55,414 Business interruption proceeds 2,558 - -------- -------- 88,800 55,414 -------- -------- COSTS AND EXPENSES: Contract drilling 49,110 33,770 Depreciation 8,015 6,390 General and administrative 7,191 5,993 Gain on sale of equipment (47) (9,275) -------- -------- 64,269 36,878 -------- -------- OPERATING INCOME 24,531 18,536 -------- -------- OTHER INCOME (EXPENSE) Interest expense (537) (1,740) Interest income 469 231 -------- -------- (68) (1,509) -------- -------- INCOME BEFORE INCOME TAXES 24,463 17,027 PROVISION FOR INCOME TAXES 3,378 2,504 -------- -------- NET INCOME $ 21,085 $ 14,523 ======== ======== EARNINGS PER COMMON SHARE: Basic $ 0.68 $ 0.47 Diluted 0.67 0.47 AVERAGE COMMON SHARES OUTSTANDING: Basic 31,060 30,738 Diluted 31,614 31,208 EX-99 4 exh993.txt EXHIBIT 99.3 EXHIBIT 99.3 ATWOOD OCEANICS, INC. AND SUBSIDIARIES ANALYSIS OF REVENUES AND DRILLING COSTS (Unaudited) FOR THE THREE MONTHS ENDED DECEMBER 31, 2006 DRILLING REVENUES COSTS -------- ------- (In Millions) ATWOOD HUNTER $ 17.8 $ 5.9 ATWOOD EAGLE 14.8 7.9 ATWOOD SOUTHERN CROSS 11.4 5.3 ATWOOD FALCON 8.9 8.7 ATWOOD BEACON 8.7 4.0 VICKSBURG 8.5 3.8 SEAHAWK 8.1 6.8 RICHMOND 7.5 3.1 AUSTRALIA MANAGEMENT CONTRACTS 3.1 2.5 OTHER - 1.1 ----- ----- 88.8 49.1 ===== ===== -----END PRIVACY-ENHANCED MESSAGE-----