Oceaneering International Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Oceaneering International Inc. (OII) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $15.14 million, or $0.15 per share. This compares with $4.06 million, or $0.04 per share, in last year's first quarter.

Excluding items, Oceaneering International Inc. reported adjusted earnings of $13.89 million or $0.14 per share for the period.

Analysts on average had expected the company to earn -$0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.6% to $599.09 million from $536.99 million last year.

Oceaneering International Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $15.14 Mln. vs. $4.06 Mln. last year. -EPS (Q1): $0.15 vs. $0.04 last year. -Revenue (Q1): $599.09 Mln vs. $536.99 Mln last year.