EX-99 2 exhibit991.txt EXHIBIT 99.1 Houston, Texas 7 December 2006 FOR IMMEDIATE RELEASE ATWOOD OCEANICS, INC., Houston-based International Drilling Contractor, announced today that the Company earned net income of $23,179,000 or $.74 per diluted share, on revenues of $81,817,000 for the quarter ended September 30, 2006, compared to net income of $6,661,000 or $.21 per diluted share, on revenues of $46,124,000 for the quarter ended September 30, 2005. For the year ended September 30, 2006, the Company earned net income of $86,122,000 or $2.74 per diluted share, on revenues of $276,625,000 compared to net income of $26,011,000 or $.83 per diluted share, on revenues of $176,156,000 for the year ended September 30, 2005. FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2006 2005 ---------------- ------------------ Revenues $ 81,817,000 $ 46,124,000 Income before Income Taxes 27,885,000 5,432,000 (Provision) Benefit for Income Taxes (4,706,000) 1,229,000 Net Income 23,179,000 6,661,000 Earnings per Common Share - Basic 0.75 0.22 Diluted 0.74 0.21 Weighted Average Shares Outstanding - Basic 31,044,000 30,584,000 Diluted 31,534,000 31,452,000 FOR THE TWELVE MONTHS ENDED SEPTEMBER 30, 2006 2005 ---------------- ------------------ Revenues $ 276,625,000 $ 176,156,000 Income before Income Taxes 91,836,000 25,608,000 (Provision) Benefit for Income Taxes (5,714,000) 403,000 Net Income 86,122,000 26,011,000 Earnings per Common Share - Basic 2.78 0.86 Diluted 2.74 0.83 Weighted Average Shares Outstanding - Basic 30,936,000 30,412,000 Diluted 31,442,000 31,220,000 Contact: Jim Holland (281) 749-7804