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To: Big Dog who wrote (71069)	8/17/2000 1:28:52 PM
From: jbe	Respond to of 95453

Big Dog, re HP & ATW you write: HP owns a large chunk of ATW. In fact, I think Helmrich is Chairman of ATW. That is one of the reasons that ATW is such a conservative company..just like HP. Thanks for the response. One remark: there are actually two Helmerichs on the ATW Board, although neither is currently Chairman thereof. Two questions: 1) Is it bad to be "conservative" in this business? 2) HP still seems to be doing better than ATW. Why? Is it because of HP's real estate operations? Just one example, snipped from the Market Guide financial reports for each company: ATW. For the six months ended 3/00, revenuesfell 17% to $63.5 million. Net income fell 29% to $11 million. Revenues reflect lower Atwood Eagle and RIG 200/RIG-19 contract revenues. Net income also reflect lower gross profit and increased depreciation expense. HP. For the nine months ended 6/30/00, revenues increased 3% to $443.2 million. Net income rose 61% to $52 million. Revenues reflect gains on sale of securities. Net income reflects lower operating expenses as a percentage of revenues.