EX-99 4 exh992.htm 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   

 

Twelve Months Ended

 

September 30,

 

September 30,

 

2007

 

2006

 

2007

 

2006

               

REVENUES:

             

Contract drilling

$ 121,604

 

$ 81,817

 

$ 400,479

 

$ 276,625

Business interruption proceeds

-

 

-

 

2,558

 

-

 

121,604

 

81,817

 

403,037

 

276,625

               

COSTS AND EXPENSES:

             

Contract drilling

46,738

 

41,190

 

186,949

 

144,366

Depreciation

8,584

 

7,612

 

33,366

 

26,401

General and administrative

5,938

 

5,202

 

23,929

 

20,630

Gain on sale of equipment

(73)

 

(198)

 

(414)

 

(10,548)

 

61,187

 

53,806

 

243,830

 

180,849

OPERATING INCOME

60,417

 

28,011

 

159,207

 

95,776

               

OTHER INCOME (EXPENSE)

             

Interest expense

(837)

 

(1,628)

 

(4,330)

 

(6,797)

Capitalized interest

465

 

1,104

 

2,641

 

1,631

Interest income

1,264

 

398

 

2,441

 

1,226

 

892

 

(126)

 

752

 

(3,940)

INCOME BEFORE INCOME TAXES

61,309

 

27,885

 

159,959

 

91,836

PROVISION FOR INCOME TAXES

7,160

 

4,706

 

20,935

 

5,714

NET INCOME

$ 54,149

 

$ 23,179

 

$ 139,024

 

$ 86,122

               

EARNINGS PER COMMON SHARE:

             

Basic

$ 1.71

 

$ 0.75

 

$ 4.44

 

$ 2.78

Diluted

1.69

 

0.74

 

4.37

 

2.74

AVERAGE COMMON SHARES OUTSTANDING: 

             

Basic

31,673

 

31,044

 

31,343

 

30,936

Diluted

32,099

 

31,534

 

31,814

 

31,442