Atwood Oceanics

Mark W. Smith

Senior Vice President and Chief Financial Officer, Atwood Oceanics, Inc.

Good morning, and welcome to Atwood Oceanics' conference call and webcast to review the company's operating results for the fourth quarter and 2016 fiscal year ended September 30, 2016. The speakers today will be Rob Saltiel, President and CEO; and me, Mark Smith, Senior Vice President and CFO. Before we begin, let me remind everyone that during the course of this conference call, we may make forward looking statements. These statements involve risks and uncertainties more fully described in our latest 10-K, and our other filings with the SEC. Actual results may differ materially. Undue reliance should not be placed on these forward-looking statements, which are applicable only as of the date hereof. Now, let me turn the call over to, Rob for opening remarks.

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HOUSTON, November 11, 2016 - Atwood Oceanics, Inc. (NYSE: ATW) ("Company"), announced today that it had earned net income of $4.2 million or $0.07 per diluted share, on revenues of $188.7 million for the quarter ended September 30, 2016, compared to net income of $99.5 million or $1.53 per diluted share on revenues of $227.8 million for the quarter ended June 30, 2016 and compared to net income of $150.7 million or $2.32 per diluted share, on revenues of $363.2 million for the quarter ended September 30, 2015.

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Earnings Call transcript:

Mark W. Smith - CFO, Senior VP & Head-Investor Relations

Good morning, and welcome to Atwood Oceanics' conference call and webcast to review the company's operating results for the third quarter ended June 30, 2016. The speakers today will be Rob Saltiel, President and CEO; and me, Mark Smith, Senior Vice President and CFO.

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HOUSTON, August 1, 2016 -- Atwood Oceanics, Inc. (NYSE: ATW) ("Company"), announced today that it had earned net income of $99.5 million or $1.53 per diluted share, on revenues of $227.8 million for the quarter ended June 30, 2016 compared to $122.4 million or $1.89 per diluted share, on revenues of $296.4 million for the quarter ended March 31, 2016 and compared to net income of $113.0 million or $1.73 per diluted share on revenues of $330.6 million for the quarter ended June 30, 2015. For the nine months ended June 30, 2016, the Company earned net income of $261.0 million or $4.02 per diluted share, on revenues of $832.0 million compared to net income of $281.9 million or $4.33 per diluted share, on revenues of $1.0 billion for the nine months ended June 30, 2015.

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Mark W. Smith

Senior Vice President and Chief Financial Officer

Good morning and welcome to Atwood Oceanics' conference call and webcast to review the company's operating results for the second quarter ended March 31, 2016. The speakers today will be Rob Saltiel, President and CEO; and me, Mark Smith, Senior Vice President and CFO. Before we begin, let me remind everyone that during the course of this conference call we may make forward-looking statements. These statements involve risks and uncertainties more fully described in our latest 10 -K and our other filings with the SEC. Actual results may differ materially. Undue reliance should not be placed on these forward-looking statements, which are applicable only as of the date hereof. Now, let me turn the call over to Rob for opening remarks.

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HOUSTON, May 5, 2016 -- Atwood Oceanics, Inc. (NYSE: ATW) ("Company"), announced today that it had earned net income of $122.4 million or $1.89 per diluted share, on revenues of $296.4 million for the quarter ended March 31, 2016 compared to net income of $39.1 million or $0.60 per diluted share on revenues of $307.8 million for the quarter ended December 31, 2015 and compared to net income of $122.7 million or $1.89 per diluted share, on revenues of $350.4 million for the quarter ended March 31, 2015. For the six months ended March 31, 2016, the Company earned net income of $161.5 million or $2.49 per diluted share, on revenues of $604.2 million compared to net income of $168.9 million or $2.60 per diluted share, on revenues of $702.1 million for the six months ended March 31, 2015.

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HOUSTON, February 2, 2016 -- Atwood Oceanics, Inc. (NYSE: ATW) ("Company"), announced today that it had earned net income of $39.1 million or $0.60 per diluted share, on revenues of $307.8 million for the quarter ended December 31, 2015, compared to net income of $150.7 million or $2.32 per diluted share on revenues of $363.2 million for the quarter ended September 30, 2015 and compared to net income of $46.2 million or $0.71 per diluted share, on revenues of $351.7 million for the quarter ended December 31, 2014.

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HOUSTON, November 9, 2015 -- Atwood Oceanics, Inc. (NYSE: ATW) ("Company"), announced today that it had earned net income of $150.7 million or $2.32 per diluted share, on revenues of $363.2 million for the quarter ended September 30, 2015 compared to net income of $113.0 million or $1.73 per diluted share on revenues of $330.6 million for the quarter ended June 30, 2015 and compared to net income of $112.2 million or $1.72 per diluted share, on revenues of $323.4 million for the quarter ended September 30, 2014.

For the twelve months ended September 30, 2015, the Company earned net income of $432.6 million or $6.65 per diluted share, on revenues of $1.40 billion compared to net income of $340.8 million or $5.24 per diluted share, on revenues of $1.17 billion for the twelve months ended September 30, 2014. During the twelve months ended September 30, 2015, the Company recorded a non-cash impairment charge of approximately $60.8 million ($56.1 million, net of tax, or $0.86 per diluted share) related to the Atwood Hunter. In addition, the Company recorded a loss of approximately $5.5 million ($5.5 million, net of tax, or $0.08 per diluted share) for the sale of the Atwood Hunter and a loss of approximately $8.0 million ($7.1 million, net of tax, or $0.11 per diluted share) for the sale of the Atwood Southern Cross.

 

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Atwood Oceanics, Inc, announced today that it had earned net income of $113.0 million or $1.73 per diluted share, on revenues of $330.6 million for the quarter ended June 30, 2015 compared to net income of $122.7 million or $1.89 per diluted share on revenues of $350.4 million for the quarter ended March 31, 2015 and compared to net income of $71.9 million or $1.11 per diluted share, on revenues of $292.8 million for the quarter ended June 30, 2014. For the nine months ended June 30, 2015, the Company earned net income of $281.9 million or $4.33 per diluted share, on revenues of $1.03 billion compared to net income of $228.6 million or $3.52 per diluted share, on revenues of $850.6 million for the nine months ended June 30, 2014.

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HOUSTON, April 29, 2015 -- Atwood Oceanics, Inc. (NYSE: ATW) ("Company"), announced today that it had earned net income of $122.7 million or $1.89 per diluted share, on revenues of $350.4 million for the quarter ended March 31, 2015 compared to net income of $46.2 million or $0.71 per diluted share on revenues of $351.7 million for the quarter ended December 31, 2014 and compared to net income of $73.3 million or $1.13 per diluted share, on revenues of $273.1 million for the quarter ended March 31, 2014. For the six months ended March 31, 2015, the Company earned net income of $168.9 million or $2.60 per diluted share, on revenues of $702.1 million compared to net income of $156.7 million or $2.41 per diluted share, on revenues of $557.8 million for the six months ended March 31, 2014.

During the quarter ended March 31, 2015, the Company recorded a loss of approximately $5.5 million ($5.5 million, net of tax, or $0.08 per diluted share) for the pending sale of the Atwood Hunter for recycling. During the quarter ended December 31, 2014, the Company recorded a non-cash impairment charge of approximately $60.8 million ($56.1 million, net of tax, or $0.86 per diluted share) related to the Atwood Hunter. In addition, during the quarter ended December 31, 2014, the Company recorded a loss of approximately $8.0 million ($7.1 million, net of tax, or $0.11 per diluted share) for the sale of the Atwood Southern Cross and a loss of $1.8 million on the sale of other equipment.

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HOUSTON, February 3, 2015 -- Atwood Oceanics, Inc. (NYSE: ATW) ("Company"), announced today that it had earned net income of $46.2 million or $0.71 per diluted share, on revenues of $351.7 million for the quarter ended December 31, 2014 compared to net income of $112.2 million or $1.72 per diluted share on revenues of $323.4 million for the quarter ended September 30, 2014 and compared to net income of $83.4 million or $1.28 per diluted share, on revenues of $284.7 million for the quarter ended December 31, 2013. The Company recorded a non-cash impairment charge of approximately 60.8 million ($56.1 million, net of tax, or $0.86 per diluted share) related to the Atwood Hunter. In addition, during December 2014, the Company recorded a loss of approximately $8.0 million ($7.1 million, net of tax, or $0.11 per diluted share) for the sale of the Atwood Southern Cross and a loss of $1.8 million on the sale of other equipment.

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Atwood Oceanics Inc., announced today that the Company earned net income of $112.2 million or $1.72 per diluted share, on revenues of $323.4 million for the quarter ended September 30, 2014 compared to net income of $71.9 million or $1.11 per diluted share on revenues of $292.8 million for the quarter ended June 30,  2014 and compared to net income of $101.9 million or $1.57 per diluted share, on revenues of $292.7 million for the quarter ended September 30, 2013.

For the twelve months ended September 30, 2014, the Company earned net income of $340.8 million or $5.24 per diluted share, on revenues of $1.17 billion compared to net income of $350.2 million or $5.32 per diluted share, on revenues of $1.06 billion for the twelve months ended September 30, 2013.

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ATWOOD OCEANICS, INC., announced today that the Company earned net income of $71.9 million or $1.11 per diluted share, on revenues of $292.8 million for the quarter ended June 30, 2014 compared to net income of $73.3 million or $1.13 per diluted share on revenues of $273.1 million for the quarter ended March 31,2014 and compared to net income of $90.0 million or $1.37 per diluted share, on revenues of $272.7 million for the quarter ended June 30, 2013.

For the nine months ended June 30, 2014, the Company earned net income of $228.6 million or $3.52 per diluted share, on revenues of $850.6 million compared to net income of $248.3 million or $3.75 per diluted share, on revenues of $770.9 million for the nine months ended June 30, 2013.

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CONTACT DETAILS

Atwood Oceanics Inc. 15011 Katy Freeway Suite 800 Houston, TX 77094

INVESTOR RELATIONS CONTACT

Mark L. Mey Senior Vice President and Chief Financial Officer Atwood Oceanics Inc Phone: 281-749-7800 Email: [email protected]

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