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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: articwarrior who wrote (47954)	7/14/1999 10:25:00 AM
From: shust	Read Replies (1) \| Respond to of 95453

Ensco Q2 shr loss vs profit DALLAS, Texas, July 14 (Reuters) - ENSCO INTERNATIONAL INC. CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) (In millions except per share data) THREE MONTHS ENDED JUNE 30 1999 1998 OPERATING REVENUES 79.4 234.0 EXPENSES Operating expenses 62.3 83.6 Depreciation, amortization 24.9 20.2 General, administration 2.9 4.1 90.1 107.9 OPERATING INCOME (LOSS) (10.7) 126.1 OTHER INCOME (EXPENSE) Interest income 3.5 3.8 Interest expense, net (4.8) (6.6) Other, net -- 0.1 (1.3) (2.7) INCOME (LOSS) BEFORE INCOME TAXES AND MINORITY INTEREST (12.0) 123.4 PROVISION (BENEFIT) FOR INCOME TAXES Current income taxes (7.5) 31.2 Deferred income taxes 5.8 11.1 (1.7) 42.3 MINORITY INTEREST (0.5) 0.5 NET INCOME (LOSS) (9.8) 80.6 NET INCOME PER SHARE-BASIC (0.07) 0.57 NET INCOME PER SHARE-DILUTED (0.07) 0.57 AVG SHARES OUTSTANDING-BASIC 136.4 141.4 AVG SHARES OUTSTANDING-DILUTED 137.7 142.6 SIX MONTHS ENDED JUNE 30 1999 1998 OPERATING REVENUES 207.1 480.4 EXPENSES Operating expenses 129.8 167.3 Depreciation, amortization 48.5 40.0 General, administration 5.8 7.7 184.1 215.0 OPERATING INCOME (LOSS) 23.0 265.4 OTHER INCOME (EXPENSE) Interest income 7.6 6.5 Interest expense, net (10.2) (14.2) Other, net (0.1) -- (2.7) (7.7) INCOME (LOSS) BEFORE INCOME TAXES AND MINORITY INTEREST 20.3 257.7 PROVISION (BENEFIT) FOR INCOME TAXES Current income taxes (7.2) 66.0 Deferred income taxes 16.8 22.1 9.6 88.1 MINORITY INTEREST 0.5 1.8 NET INCOME (LOSS) 10.2 167.8 NET INCOME PER SHARE-BASIC 0.07 1.19 NET INCOME PER SHARE-DILUTED 0.07 1.18 AVG SHARES OUTSTANDING-BASIC 136.4 141.4 AVG SHARES OUTSTANDING-DILUTED 137.2 142.8 NOTE: The company said decline in earnings due to reduced demand for contract drilling and related services in 1999 compared to 1998. Slowdown in activity and lower day rates for rigs, marine vessels will likely continue to hurt results for year, the company said.