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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF EARLIEST EVENT REPORTED: NOVEMBER 18, 2002
ATWOOD OCEANICS, INC.
(Exact name of registrant as specified in its charter)
COMMISSION FILE NUMBER 1-13167
TEXAS 74-1611874
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER IDENTIFICATION NO.)
INCORPORATION OR ORGANIZATION)
15835 PARK TEN PLACE DRIVE 77084
HOUSTON, TEXAS (ZIP CODE)
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
281-749-7800
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ITEM 7. EXHIBITS
EXHIBIT 99.1 PRESS RELEASE DATED NOVEMBER 18, 2002
EXHIBIT 99.2 CONSOLIDATED STATEMENT OF OPERATIONS FOR THE THREE
MONTHS AND YEAR ENDED SEPTEMBER 30, 2002 AND 2001
EXHIBIT 99.3 ANALYSIS OF CONTRACT REVENUES AND DRILLING COSTS FOR
THE THREE MONTHS AND YEAR ENDED SEPTEMBER 30, 2002
EXHIBIT 99.4 CONSOLIDATED CONDENSED BALANCE SHEETS AT SEPTEMBER 30,
2002 AND 2001
EXHIBIT 99.5 CONTRACT STATUS SUMMARY AT NOVEMBER 18, 2002
ITEM 9. REGULATION FD DISCLOSURE
ON NOVEMBER 18, 2002, THE COMPANY ANNOUNCED ITS EARNINGS FOR THE FISCAL
YEAR AND FOURTH QUARTER ENDED SEPTEMBER 30, 2002. A COPY OF THE PRESS RELEASE
SUMMARIZING THESE EARNINGS IS FILED WITH THIS FORM 8-K AS EXHIBIT 99.1 AND IS
INCORPORATED HEREIN BY REFERENCE.
THE RICHMOND HAS BEEN AWARDED A CONTRACT BY BURLINGTON RESOURCES OIL & GAS
COMPANY TO DRILL ONE WELL IMMEDIATELY UPON COMPLETION OF THE RIG'S CURRENT
CONTRACT (ESTIMATED LATED NOVEMBER/EARLY DECEMBER 2002, WHICH SHOULD KEEP THE
RIG EMPLOYED INTO JANUARY 2003. THE DAYRATE FOR THE NEW CONTRACT IS $24,000.
CONTRACT OPPORTUNITIES TO COMMENCE FOLLOWING COMPLETION OF THE RIG'S CURRENT
CONTRACTS ARE CONTINUING TO BE PURSUED IN THE U.S. GULF OF MEXICO.
ADDITIONAL INFORMATION WITH RESPECT TO THE COMPANY'S CONSOLIDATED
STATEMENTS OF OPERATIONS FOR THE THREE MONTHS AND YEAR ENDED SEPTEMBER 30, 2002
AND 2001, AN ANALYSIS OF CONTRACT REVENUES AND DRILLING COSTS FOR THE THREE
MONTHS AND YEAR ENDED SEPTEMBER 30, 2002, CONSOLIDATED CONDENSED BALANCE SHEETS
AT SEPTEMBER 30, 2002 AND 2001 AND CONTRACT STATUS SUMMARY AT NOVEMBER 18, 2002
ARE ATTACHED HERETO AS EXHIBITS 99.2, 99.3, 99.4 AND 99.5, RESPECTIVELY, WHICH
ARE BEING FURNISHED IN ACCORDANCE WITH RULE 101(e)1) UNDER REGULATION FD AND
SHOULD NOT BE DEEMED TO BE FILED.
Statements contained in this report with respect to the future are
forward-looking statements. These statements reflect management's reasonable
judgment with respect to future events. Forward-looking statements involve risks
and uncertainties. Actual results could differ materially from those anticipated
as a result of various factors; the Company's dependence on the oil and gas
industry; the risks involved in upgrades to the Company's rigs; competition;
operating risks; risks involved in foreign operations, risks associated with
possible disruptions in operations due to terrorism; and governmental
regulations and environmental matters. A list of additional risk factors can be
found in the Company's annual report on Form 10-K for the year ended September
30, 2001, filed with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ATWOOD OCEANICS, INC.
(Registrant)
/s/ James M. Holland
James M. Holland
Senior Vice President
DATE: 18 November 2002
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press Release dated November 18, 2002
99.2 Consolidated Statements of Operations for the three months and year
ended September 30, 2002 and 2001
99.3 Analysis of Contract Revenues and Drilling Costs for the three months
and year ended September 30, 2002
99.4 Consolidated Condensed Balance Sheets at September 30, 2002 and 2001
99.5 Contract Status Summary at November 18, 2002
EXHIBIT 99.1
ATWOOD OCEANICS, INC., Houston-based International Drilling Contractor,
announced today that the Company and its subsidiaries reported net income of USD
28,285,000, or USD 2.02 per diluted share, on contract revenues of USD
149,157,000, for the fiscal year ended September 30, 2002, compared to net
income of USD 27,346,000, or USD 1.96 per diluted share, on contract revenues of
USD 147,541,000, for the fiscal year ended September 30, 2001. For the fourth
quarter ended September 30, 2002, the Company recorded a net income of USD
7,165,000 or USD .51 per diluted share, on contract revenues of USD 30,781,000
compared to a net income of USD 7,791,000 or USD .56 per diluted share, on
contract revenues of USD 35,694,000 for the fourth quarter of fiscal 2001.
Net income for the year and fourth quarter was enhanced by $2.3 million or
$.16 per diluted share from a foreign income tax credit benefit generated in the
quarter ended September 30, 2002.
Compared figures are as follows:
FOR THE YEAR ENDED SEPTEMBER 30: 2002 2001
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CONTRACT REVENUES USD 149,157,000 USD 147,541,000
INCOME BEFORE INCOME TAXES 38,777,000 41,121,000
NET INCOME 28,285,000 27,346,000
EARNINGS PER COMMON SHARE -
BASIC 2.04 1.98
DILUTED 2.02 1.96
AVERAGE COMMON SHARES OUTSTANDING -
BASIC 13,839,000 13,828,000
DILUTED 13,994,000 13,978,000
FOR THE QUARTER ENDED SEPTEMBER 30: 2002 2001
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CONTRACT REVENUES USD 30,781,000 USD 35,694,000
INCOME BEFORE INCOME TAXES 6,501,000 10,379,000
NET INCOME 7,165,000 7,791,000
EARNINGS PER COMMON SHARE -
BASIC .52 .56
DILUTED .51 .56
WEIGHTED COMMON SHARES OUTSTANDING -
BASIC 13,845,000 13,832,000
DILUTED 13,928,000 13,912,000