EX-99 3 exh99_2.txt EXHIBIT 99.2 ATWOOD OCEANICS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts)
Three Months Ended Year Ended September 30, September 30, 2002 2001 2002 2001 (Unaudited) (Unaudited) REVENUES Contract drilling ............................ $ 30,781 $ 35,694 $ 149,157 $ 147,541 COSTS AND EXPENSES Contract drilling ............................ 16,176 16,826 75,088 70,014 Depreciation ................................. 5,381 5,976 23,882 25,579 General and administrative ................... 2,580 2,229 10,080 9,250 24,137 25,031 109,050 104,843 OPERATING INCOME ................................. 6,644 10,663 40,107 42,698 OTHER INCOME (EXPENSE) Interest expense ............................. (271) (416) (1,658) (2,939) Investment income ............................ 128 132 328 1,362 (143) (284) (1,330) (1,577) INCOME BEFORE INCOME TAXES ....................... 6,501 10,379 38,777 41,121 PROVISION FOR INCOME TAXES (Note 1)............... (664) 2,588 10,492 13,775 NET INCOME ....................................... $ 7,165 $ 7,791 $ 28,285 $ 27,346 EARNINGS PER COMMON SHARE Basic ....................................... $ 0.52 $ 0.56 $ 2.04 $ 1.98 Diluted ..................................... $ 0.51 $ 0.56 $ 2.02 $ 1.96 AVERAGE COMMON SHARES OUTSTANDING Basic ....................................... 13,845 13,832 13,839 13,828 Diluted ..................................... 13,928 13,912 13,994 13,978
Note (1) Net income for the fourth quarter and year was enhanced by $2.3 million or $.16 per diluted share from a foreign income tax credit benefit generated in the quarter ended September 30, 2002.