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ATW Q2, 2015 Earnings Call
Manage episode 151495996 series 1029272
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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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