EX-99 3 exh992.htm

                    
EXHIBIT 99.2

ATWOOD OCEANICS, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)

     

 

Three Months Ended

 

Six Months Ended

 

March 31,  

 

March 31,

 

2008

 

2007

 

2008

 

2007

               

REVENUES:

             

Contract drilling

$ 113,530

 

$ 94,262

 

$ 224,578

 

$ 180,504

Business interruption proceeds

-

 

-

 

-

 

2,558

 

113,530

 

94,262

 

224,578

 

183,062

               

COSTS AND EXPENSES:

             

Contract drilling

51,845

 

43,617

 

102,905

 

92,727

Depreciation

8,586

 

8,329

 

17,043

 

16,344

General and administrative

7,173

 

4,851

 

15,482

 

12,042

Gain on sale of equipment

(112)

 

(137)

 

(85)

 

(184)

 

67,492

 

56,660

 

135,345

 

120,929

OPERATING INCOME

46,038

 

37,602

 

89,233

 

62,133

               

OTHER INCOME (EXPENSE)

             

Interest expense, net of capitalized interest

(139)

 

(388)

 

(942)

 

(925)

Interest income

455

 

404

 

1,174

 

873

 

316

 

16

 

232

 

(52)

INCOME BEFORE INCOME TAXES

46,354

 

37,618

 

89,465

 

62,081

PROVISION FOR INCOME TAXES

4,599

 

5,861

 

9,161

 

9,239

NET INCOME

$ 41,755

 

$ 31,757

 

$ 80,304

 

$ 52,842

               

EARNINGS PER COMMON SHARE:

             

Basic

1.31

 

1.02

 

2.53

 

1.70

Diluted

1.30

 

1.01

 

2.49

 

1.67

AVERAGE COMMON SHARES OUTSTANDING:

             

Basic

31,801

 

31,148

 

31,743

 

31,104

Diluted

32,214

 

31,577

 

32,188

 

31,595