Oceaneering International Inc. Q2 Profit Decreases, misses estimates

(RTTNews) - Oceaneering International Inc. (OII) released earnings for second quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $3.72 million, or $0.04 per share. This compares with $6.24 million, or $0.06 per share, in last year's second quarter.

Excluding items, Oceaneering International Inc. reported adjusted earnings of $7.45 million or $0.07 per share for the period.

Analysts on average had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $524.03 million from $498.20 million last year.

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

-Earnings (Q2): $3.72 Mln. vs. $6.24 Mln. last year. -EPS (Q2): $0.04 vs. $0.06 last year. -Analyst Estimates: $0.12 -Revenue (Q2): $524.03 Mln vs. $498.20 Mln last year.