Atwood Oceanics fiscal 2Q profit jumps on revenue increase
HOUSTON—Offshore oilfield service provider Atwood Oceanics Inc. said Thursday its fiscal second-quarter profit rose 32 percent on a 20 percent jump in revenue.
For the quarter ended March 31, Atwood earned $41.8 million, or $1.30 per share, compared with $31.8 million, or $1.01 per share, for the same quarter in 2007.
Revenue rose to $113.5 million from $94.3 million in the year-ago period.
The results beat Wall Street predictions. Analysts polled by Thomson Financial expected a profit of $1.15 per share on $109 million in revenue.
Atwood shares rose $2.91, or 2.8 percent, to close at $106.15.
© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
rising
falling 