SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
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 21, 2000
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 5. OTHER EVENTS
ON NOVEMBER 21, 2000, THE COMPANY ANNOUNCED ITS EARNINGS FOR THE FISCAL YEAR
ENDED SEPTEMBER 30, 2000. 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.
FOR THE QUARTER ENDED SEPTEMBER 30, 2000, THE COMPANY HAD NET INCOME OF USD
6,862,000, OR USD .49 PER DILUTED SHARE, ON CONTRACT REVENUES OF USD 37,558,000,
COMPARED TO A NET INCOME OF USD 4,826,000, OR USD .35 PER DILUTED SHARE, ON
CONTRACT REVENUES OF USD 34,980,000, FOR THE FOURTH QUARTER OF 1999. AS A RESULT
OF A REDUCTION IN THE DEEMED INCOME TAX RATE IN EGYPT AND THE UTILIZATION OF
CERTAIN FOREIGN TAX CREDITS TO REDUCE UNITED STATES TAX OBLIGATIONS, THE
COMPANYS EFFECTIVE TAX RATE FOR THE QUARTER ENDED SEPTEMBER 30, 2000 WAS 29%,
RESULTING IN AN EFFECTIVE TAX RATE FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2000
OF 35.5%. ADDITIONAL INFORMATION WITH RESPECT TO THE COMPANY'S CONSOLIDATED
STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000 AND
SEPTEMBER 30, 1999, AN ANALYSIS OF CONTRACT REVENUES AND DRILLING COSTS FOR THE
QUARTER ENDED SEPTEMBER 30, 2000 AND CONTRACT STATUS SUMMARY AT NOVEMBER 21,
2000 ARE ATTACHED HERETO AS EXHIBITS 99.2, 99.3 AND 99.4 RESPECTIVELY.
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 upgrade to the Company's rigs; competition;
operating risks; risk involved in foreign operations; 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, 1999 filed with the Securities and Exchange Commission.
ITEM 7. EXHIBITS
EXHIBIT 99.1 PRESS RELEASE DATED NOVEMBER 21, 2000
EXHIBIT 99.2 CONSOLIDATED STATEMENT OF OPERATIONS FOR THE THREE
MONTHS ENDED SEPTEMBER 30, 2000 AND SEPTEMBER 30, 1999
EXHIBIT 99.3 ANALYSIS OF CONTRACT REVENUES AND DRILLING COSTS FOR THE
QUARTER ENDED SEPTEMBER 30, 2000
EXHIBIT 99.4 CONTRACT STATUS SUMMARY AT NOVEMER 21, 2000
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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: 21 November 2000
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press Release dated November 21, 2000
99.2 Consolidated Statements of Operations for the Three Months ended
September 30, 2000 and September 30, 1999
99.3 Analysis of Contract Revenues and Drilling Costs for the quarter
ended September 30, 2000
99.4 Contract Status Summary at November 21, 2000
