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Helmerich & Payne, Inc. Announces Record Fiscal Year-End Results And Additional New Build Contracts

TULSA, Okla., Nov. 14, 2013 (GLOBE NEWSWIRE) -- Helmerich & Payne, Inc. (NYSE:HP) reported record income from continuing operations of $721.5 million ($6.65 per diluted share) and record operating revenues of $3.4 billion for its fiscal year ended September 30, 2013, compared to income from continuing operations of $573.6 million ($5.27 per diluted share) from operating revenues of $3.2 billion during the prior fiscal year ended September 30, 2012. Included in income from continuing operations during fiscal 2013 were $0.91 per diluted share corresponding to after-tax gains from the sale of investment securities. Also included in income from continuing operations during fiscal 2013 and fiscal 2012 were $0.11 per diluted share each year of after-tax gains related to the sale of used drilling equipment. Net income for fiscal 2013 was also at an all-time high level of $736.6 million ($6.79 per diluted share), compared to $581.0 million ($5.34 per diluted share) for fiscal 2012.

Income from continuing operations for the fourth quarter of fiscal 2013 was $159.8 million ($1.47 per diluted share) from operating revenues of $864.5 million, compared to income from continuing operations of $149.6 million ($1.39 per diluted share) from operating revenues of $829.4 million during the fourth fiscal quarter of 2012, and income from continuing operations of $251.0 million ($2.32 per diluted share) from operating revenues of $840.2 million during the third fiscal quarter of 2013. Included in this year's and last year's fourth fiscal quarter income from continuing operations were $0.03 per diluted share of after-tax gains in each quarter related to the sale of used drilling equipment. Included is this year's third fiscal quarter income from continuing operations were $0.02 per diluted share of after-tax gains related to the sale of used drilling equipment and $0.86 per diluted share of after-tax gains related to the sale of investment securities. Net income for the fourth fiscal quarter of 2013 was $159.8 million ($1.47 per diluted share), compared to net income of $157.1 million ($1.46 per diluted share) during the fourth fiscal quarter of 2012, and net income of $266.2 million ($2.46 per diluted share) during the third fiscal quarter of 2013.

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