Oceaneering International Inc. (OII) revealed earnings for its first quarter that increased from last year and beat the Street estimates.
The company's bottom line came in at $15.14 million, or $0.15 per share. This compares with $4.06 million, or $0.04 per share, in last year's first quarter.
Excluding items, Oceaneering International Inc. reported adjusted earnings of $13.89 million or $0.14 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 11.6% to $599.09 million from $536.99 million last year.
Oceaneering International Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $15.14 Mln. vs. $4.06 Mln. last year.
-EPS (Q1): $0.15 vs. $0.04 last year.
-Revenue (Q1): $599.09 Mln vs. $536.99 Mln last year.
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