TODCO (NYSE: THE) reported net income for the three months ended
December 31, 2005, of $21.2 million, or $0.34 per diluted share, on revenues of $150.4 million compared with net income of $3.4 million, or $0.06 per share, on revenues of $103.7 million for the same quarter of 2004. For the
three months ended December 31, 2005, earnings before interest, taxes,
depreciation and amortization ("EBITDA") was $67.8 million compared to
$28.8 million for the same quarter of 2004.
The improvement in fourth quarter 2005 results over the same quarter last
year was principally caused by improved utilizations and dayrates.