Oceaneering Int'l Q1 Profit Tops View; Issues Q2 EPS Outlook - Quick Facts

(RTTNews) - Oceaneering International, Inc. (OII) reported first-quarter net income $91.2 million, or $0.84 per share, compared to $74.8 million, or $0.69 per share in the prior year quarter. On average, 22 analysts polled by Thomson Reuters expected the company to earn $0.80 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter was $840.20 million, up from $718.55 million in the comparable quarter last year, while fifteen analysts expected revenues of $837.27 million.

Looking ahead to the second quarter, the company has forecast earnings in the range of $0.97 to $1.01 per share. Analysts currently expect second quarter earnings of $1.04 per share.

For 2014, the company said it continues to expect earnings per share guidance in the range of $3.90 to $4.10. Analysts currently expect the company to earn $4.03 per share for 2014.

Separately, Oceaneering International announced that its Board of Directors declared a regular quarterly dividend of $0.27 per common share, an increase from its prior quarterly dividend of $0.22 per share. The dividend is payable June 20, 2014 to shareholders of record at the close of business on May 30, 2014.