Wednesday, February 4, 2009

Atwoods Post Strong Results

Atwoods (ATW) beat results yet again. Offshore contract drilling remains a strong part of the economy due to long term locked in contracts. As typical with this market, the guidance will be key because ATW does lack locked in contracts for some ships in 09/10. Regardless, ATW along with others I've detailed continue to show how plenty of stocks are still reporting strong numbers.

  • earned net income of $78,363,000 or $1.22 per diluted share, on revenues of $165,504,000 for the quarter ended December 31, 2008 compared to net income of $38,549,000 or $0.60 per diluted share, on revenues of $111,048,000 for the quarter ended December 31, 2007.
  • Atwood Oceanics beats by $0.07, beats on revs (ATW) 16.95 +0.35 : Reports Q1 (Dec) earnings of $1.22 per share, $0.07 better than the First Call consensus of $1.15; revenues rose 49.1% year/year to $165.5 mln vs the $162.9 mln consensus.

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