Diamond Offshore Drilling, Inc. Announces Third Quarter 2009 Results

• Press Release
• Source: Diamond Offshore Drilling, Inc.
• On 7:00 am EDT, Thursday October 22, 2009

HOUSTON--(BUSINESS WIRE)--Diamond Offshore Drilling, Inc. (NYSE:DO - News) today reported net income for the third quarter of 2009 of $364.1 million, or $2.62 per share on a diluted basis, compared with net income of $310.5 million, or $2.23 per share on a diluted basis, in the same period a year earlier. Revenues in the third quarter of 2009 were $908.4 million, compared with revenues of $900.4 million for the third quarter of 2008.

Related Quotes

Symbol	Price	Change
DO	101.69	0.00

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For the nine months ended September 30, 2009, the Company reported net income of $1.1 billion, or $7.91 per share on a diluted basis, compared with net income of $1.0 billion, or $7.31 per share on a diluted basis, for the same period in 2008. Revenue for the nine months ended September 30, 2009 was $2.7 billion, compared with $2.6 billion for the first nine months of 2008.

Diamond Offshore provides contract drilling services to the energy industry and is a leader in deepwater drilling. Additional information on Diamond Offshore and access to the Company’s SEC filings is available on the Internet at www.diamondoffshore.com.

As previously announced, Diamond Offshore will provide a simulcast and rebroadcast of its third quarter 2009 earnings release conference call. The live broadcast of our quarterly conference call will be available online at www.diamondoffshore.com on October 22, 2009 beginning at 9:00 a.m. Central Time. The online replay will follow immediately and continue for the remainder of the calendar quarter after the original call. Please go to the web site at least 15 minutes before the broadcast to register, download and install any necessary audio software.

Statements contained in this press release which are not historical facts are “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are inherently uncertain and subject to a variety of risks that could cause actual results to differ materially from those expected by management of the Company. A discussion of the important risk factors and other considerations that could materially impact these matters as well as the Company’s overall business and financial performance can be found in the Company’s reports filed with the Securities and Exchange Commission and readers of this release are urged to review those reports carefully when considering these forward-looking statements. Copies of these reports are available through the Company’s website www.diamondoffshore.com. Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Any such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any forward-looking statement is based.

Diamond Offshore Drilling, Inc.
Les Van Dyke, Director, Investor Relations, 281-492-5370