Oceaneering International Inc. Profit Falls 45% In Q3

(RTTNews) - Oceaneering International Inc. (OII) revealed earnings for third quarter that fell from last year.

The company said its earnings dropped to $68.54 million, or $0.70 per share. This was lower than $124.34 million, or $1.16 per share, in last year's third quarter.

Analysts had expected the company to earn $0.69 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 23.6% to $743.61 million. This was down from $973.09 million last year.

Oceaneering International Inc. earnings at a glance:

-Earnings (Q3): $68.54 Mln. vs. $124.34 Mln. last year. -Earnings Decline (Y-o-Y): -44.9% -EPS (Q3): $0.70 vs. $1.16 last year. -EPS Decline (Y-o-Y): -39.7% -Analysts Estimate: $0.69 -Revenue (Q3): $743.61 Mln vs. $973.09 Mln last year. -Revenue Change (Y-o-Y): -23.6%

-Guidance: Next quarter EPS guidance: $0.54 - $0.60 Full year EPS guidance: $2.60 - $2.66