Oceaneering International Inc. Q3 Profit Increases, But Misses Estimates

(RTTNews) - Oceaneering International Inc. (OII) revealed a profit for its third quarter that increased from last year but missed the Street estimates.

The company's bottom line totaled $41.24 million, or $0.40 per share. This compares with $29.81 million, or $0.29 per share, in last year's third quarter.

Excluding items, Oceaneering International Inc. reported adjusted earnings of $37.23 million or $0.36 per share for the period.

Analysts on average had expected the company to earn $0.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.0% to $679.81 million from $635.18 million last year.

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

-Earnings (Q3): $41.24 Mln. vs. $29.81 Mln. last year. -EPS (Q3): $0.40 vs. $0.29 last year. -Revenue (Q3): $679.81 Mln vs. $635.18 Mln last year.