Oceaneering Int'l Q2 Profit Tops View; Lifts FY13 EPS Outlook - Quick Facts

(RTTNews) - Oceaneering International, Inc. (OII) Tuesday reported an increase in profit for the second quarter, helped mainly by higher revenues.

Net income for the quarter increased to $98.8 million or $0.91 per share from $72.6 million or $0.67 per share in the prior year quarter. On average, 23 analysts polled by Thomson Reuters expected the company to earn $0.84 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter was $820.37 million, up from $672.55 million in the comparable quarter last year, while sixteen analysts expected revenues of $786.66 million.

Looking ahead to the third quarter, the company has forecast earnings in the range of $0.90 to $0.95 per share. Analysts currently expect second quarter earnings of $0.91 per share.

Looking ahead to the fiscal year 2013, the company is raising its earnings to a range of $3.20 to $3.35 per share from its prior range of $3.10 to $3.30 per share. Analysts currently expect the company to earn $3.29 per share for 2013.