International Drilling Contractor Atwood Oceanics Inc.(ATW), Monday reported a decline in its fourth quarter profit on lower revenues.
The Houston, Texas-based company for the fourth quarter posted net income of $48.28 million or $0.75 per share, compared to $74.75 million or $1.16 per share in the comparable quarter last year.
On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.69 per share for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly revenue was down to $131.04 million from $160.65 million in the prior year quarter. Nine Wall Street analysts estimated revenue of $128.40 million for the quarter.
Operating income for the quarter declined to $60.0 million from $87.4 million in the prior year quarter, mainly due to a loss incurred on sale of equipments of $0.35 million from a gain of $0.05 million in the year ago period.
Interest expense grew to $0.64 million from $0.26 million and interest income decreased to $0.02 million from $0.10 million in the same quarter last year.
For the full year, the company reported net income of $250.74 million or $3.89 per share, an increase from $215.43 million or $3.34 per share in the prior year. Revenue for the full year rose to $586.50 million from $526.60 million last year.
ATW closed Monday's regular session at $37.96, up $0.97 or 2.62% on a volume of 1.03 million shares on the NYSE.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.