Atwood Oceanics ends first quarter with increased cash of $132 million

By Lisa Kerner

Charlotte, N.C., Feb. 5 - Atwood Oceanics, Inc. ended its first quarter on Dec. 31 with $1.47 billion of debt and liquidity of $287 million, said senior vice president and chief financial officer Mark Mey during the company's earnings call on Wednesday.

The company posted its second-highest quarterly revenue of $284.7 million, said president and chief executive officer Rob Saltiel on the call.

Cash and cash equivalents were $132.3 million for the quarter, compared to $88.8 million for the prior quarter and $108.3 million for the year-ago period.

Atwood reported net income of $83.4 million, or $1.28 per diluted share, compared to net income of $101.9 million, or $1.57 per diluted share, on revenues of $292.7 million for the quarter ended Sept. 30, and compared to net income of $72.8 million, or $1.10 per diluted share, on revenues of $245.1 million for the quarter ended Dec. 31, 2012.

Houston-based Atwood Oceanics is an offshore drilling, exploration and development company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.