EX-99.2 3 exh99-2.htm EXHIBIT 99.2 exh99-2.htm


EXHIBIT 99.2


ATWOOD OCEANICS, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)



 
Three Months Ended
March 31,
Six Months Ended
March 31,
 
2010
 
2009
 
2010
 
2009
               
REVENUES:
             
Contract drilling
 $    159,069
 
 $    140,652
 
 $    323,312
 
 $    306,156
               
COSTS AND EXPENSES:
             
Contract drilling
         62,769
 
         53,008
 
       123,811
 
       108,405
Depreciation
           9,643
 
           8,143
 
         19,356
 
         16,052
General and administrative
           9,721
 
           7,645
 
         21,344
 
         17,889
Gain on involuntary conversion of assets
            (573)
 
                -
 
            (573)
 
                -
Gain on sale of equipment
              (39)
 
            (229)
 
            (126)
 
            (181)
 
         81,521
 
         68,567
 
       163,812
 
       142,165
OPERATING INCOME
         77,548
 
         72,085
 
       159,500
 
       163,991
               
OTHER INCOME (EXPENSE)
             
Interest expense, net of capitalized interest
            (579)
 
            (604)
 
         (1,312)
 
            (909)
Interest income
                49
 
                52
 
                85
 
              167
 
            (530)
 
            (552)
 
         (1,227)
 
            (742)
INCOME  BEFORE INCOME TAXES
         77,018
 
         71,533
 
       158,273
 
       163,249
PROVISION FOR INCOME TAXES
         10,263
 
         15,106
 
         24,534
 
         28,459
NET INCOME
 $      66,755
 
 $      56,427
 
 $    133,739
 
 $    134,790
               
EARNINGS PER COMMON SHARE:
             
              Basic
1.04
 
0.88
 
2.08
 
2.10
              Diluted
1.03
 
0.88
 
2.06
 
2.10
AVERAGE COMMON SHARES OUTSTANDING:
             
              Basic
64,396
 
64,186
 
64,349
 
64,134
              Diluted
65,103
 
64,235
 
65,063
 
64,284