Oceaneering International Inc. Q4 Profit Increases, but misses estimates

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

The company's earnings came in at $44.53 million, or $0.43 per share. This compares with $23.13 million, or $0.23 per share, in last year's fourth quarter.

Excluding items, Oceaneering International Inc. reported adjusted earnings of $19.43 million or $0.19 per share for the period.

Analysts on average had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.1% to $654.63 million from $536.22 million last year.

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

-Earnings (Q4): $44.53 Mln. vs. $23.13 Mln. last year. -EPS (Q4): $0.43 vs. $0.23 last year. -Analyst Estimate: $0.24 -Revenue (Q4): $654.63 Mln vs. $536.22 Mln last year.