Oceaneering International Inc. Q2 Profit Increases, but misses estimates

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

The company's bottom line came in at $19.00 million, or $0.19 per share. This compares with $3.72 million, or $0.04 per share, in last year's second quarter.

Excluding items, Oceaneering International Inc. reported adjusted earnings of $18.65 million or $0.18 per share for the period.

Analysts on average had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.1% to $597.91 million from $524.03 million last year.

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

-Earnings (Q2): $19.00 Mln. vs. $3.72 Mln. last year. -EPS (Q2): $0.19 vs. $0.04 last year. -Analyst Estimate: $0.29 -Revenue (Q2): $597.91 Mln vs. $524.03 Mln last year.