Earnings Review - Atwood Oceanics

LONDON, December 2, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings review on Atwood Oceanics Inc. (NYSE: ATW). On November 10, 2014, the company reported its Q4 and full year FY14 financial results (period ended September 30, 2014). Click on http://www.investor-edge.com/FreeReports to read our free earnings review on Atwood Oceanics Inc. (Atwood Oceanics). During Q4 FY14 and for FY14, the company's revenue increased $30.7 million and $110.3 million, respectively, from the corresponding previous year periods. Further, the company's Q4 FY14 diluted EPS grew $0.15 from Q4 FY13. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview 

Atwood Oceanics' revenues for Q4 FY14 stood at $323.4 million compared to $292.7 million in Q4 FY13. The company's revenues from contract drilling increased to $304.9 million in Q4 FY14 from $279.3 million in Q4 FY13. Further, Atwood Oceanics' revenues related to reimbursable expenses increased to $18.5 million in Q4 FY14, from $13.4 million in Q4 FY13. The free research on ATW can be downloaded as in PDF format at:

http://www.Investor-Edge.com/ATWFreeReport

The company's total cost and expenses for Q4 FY14 increased to $186.2 million from $166.3 million in Q4 FY13. Despite this, Atwood Oceanics' operating income rose to $137.2 million from $126.4 million in Q4 FY13, and income before taxes rose to $126.4 million from $118.2 million in Q4 FY13. Further, Atwood Oceanics' reported quarter net income increased to $112.2 million, or $1.72 per diluted share, from $101.9 million, or $1.57 per diluted share, in Q4 FY13. Analysts from Bloomberg had expected the company to report net income of $103.6 million, or $1.58 per share, in Q4 FY14.

For FY14, Atwood Oceanics' revenues increased to $1.17 billion from $1.06 billion in FY13. The company's reported revenues fell short of Bloomberg analysts' forecasts of $1.18 billion. Atwood Oceanics' FY14 revenues from contract drilling stood at $1.10 billion compared to $1.02 billion in FY13. Further, Atwood Oceanics' FY14 revenues related to reimbursable expenses increased to $70.6 million from $45.7 million in FY13. Sign up and read the free analyst's notes on ATW at:

http://www.Investor-Edge.com/ATW-02122014

Atwood Oceanics' total cost and expenses for FY14 increased to $735.2 million from $634.2 million in FY13. While the company's operating income for FY14 increased to $438.8 million from $429.5 million in FY13,its income before taxes decreased to $397.3 million in FY14 from $404.8 million in FY13. For FY14, Atwood Oceanics reported net income of $340.8 million, or $5.24 per share, compared to $350.2 million, or $5.32 per diluted share, in FY13. As of September 30, 2014, the company's total assets stood at $4.51 billion compared to $3.66 billion, as of September 30, 2013.

Stock Performance  

On the day following the earnings release, November 11, 2014, Atwood Oceanics' stock ended the session at $36.25, down 4.00%. The stock has witnessed mostly a downward movement since then. On the last close, Monday, December 01, 2014, the stock finished 0.34% higher at $32.20, after vacillating between $31.09 and $32.25. A total of 2.35 million shares were traded, which was above its three months average volume of 1.45 million shares. Over the previous three trading sessions and over the last one month, the company's shares have lost 10.65% and 20.79%, respectively. Further, the stock has plummeted 39.69% since the start of 2014. Shares in Atwood Oceanics closed below their 50-day and 200-day moving averages of $39.71 and $46.49, respectively. Furthermore, the stock traded at a PE ratio of 6.58 and has a Relative Strength Index (RSI) of 26.87. Visit Investor-Edge and access the latest research on ATW at:

http://www.Investor-Edge.com/ATWEarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month, there were 3 share purchase transactions made by 2 individuals. Between November 13, 2014 and November 20, 2014, a total of 18,500 shares worth $358,350 have been bought at an average price of $19.37 per share. On November 13, 2014, Mey Lovell Mark-Anthony, Senior Vice President and Chief Financial Officer at Atwood Oceanics, purchased 2,500 shares at $35.32 per share and on November 20, 2014, Deborah A. Beck, Director at Atwood Oceanics, bought 16,000 shares at $16.88 per share. Complimentary in-depth research on ATW is available at:

http://www.Investor-Edge.com/ATWInsiderTrading

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

===============

EDITOR'S NOTES:

===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.

5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.

6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE Investor-Edge

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED