Oceaneering International Inc. Q4 Profit Increases, But Misses Estimates

(RTTNews) - Oceaneering International Inc. (OII) announced earnings for its fourth quarter that increased from last year but missed the Street estimates.

The company's bottom line came in at $56.10 million, or $0.55 per share. This compares with $44.53 million, or $0.43 per share, last year.

Excluding items, Oceaneering International Inc. reported adjusted earnings of $37.46 million or $0.37 per share for the period.

Analysts on average had expected the company to earn $0.41 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 9.0% to $713.45 million from $654.63 million last year.

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

-Earnings: $56.10 Mln. vs. $44.53 Mln. last year. -EPS: $0.55 vs. $0.43 last year. -Revenue: $713.45 Mln vs. $654.63 Mln last year.