04-HP-876_firstsection.qxd 12/15/04 2:41 PM Page 9 Years Ended September 30  2004 2003 2002 SUMMARY OF CONSOLIDATED STATEMENTS OF INCOME*† Operating Revenues 593 326 507 331 523 803 Operating Costs 416 631 345 537 361 669 Depreciation ① 145 941 82 513 61 447 Operating Income 30 754 79 281 100 687 Income from Investments 27 602 7 953 28 076 Interest Expense 12 695 12 289 980 General and Administrative Expense 37 661 41 003 36 563 Income from Continuing Operations 4 359 17 873 53 706 Net Income 4 359 17 873 63 517 Diluted Earnings Per Common Share: Income from Continuing Operations .09 .35 1.07 Net Income .09 .35 1.26 *$000’s omitted  except per share data. ① 2004 includes an asset impairment charge of $51 516 † All data excludes discontinued operations except net income. SUMMARY FINANCIAL DATA* Cash** 65 296 38 189 46 883 Working Capital** 185 983 110 848 105 852 Investments 161 532 158 770 150 175 Property  Plant  and Equipment  Net** 998 674 1 058 205 897 445 Total Assets 1 406 844 1 417 770 1 227 313 Long-term Debt 200 000 200 000 100 000 Shareholders’ Equity 914 110 917 251 895 170 Capital Expenditures 88 972 246 301 312 064 *$000’s omitted. ** Excludes discontinued operations. RIG FLEET SUMMARY Drilling Rigs –  United States Land – FlexRigs 48 43 26 United States Land – Conventional 39 40 40 United States Offshore Platform 11 12 12 International 32 32 33 Total Rig Fleet 130 127 111 Rig Utilization Percentage –  United States Land – FlexRigs 99 97 96 United States Land – Conventional 73 67 78 United States Land – All Rigs 87 81 84 United States Offshore Platform 48 51 83 International 54 39 51 Financial & O perating Review