Oceaneering International Inc. Q3 Profit Increases, beats estimates

(RTTNews) - Oceaneering International Inc. (OII) announced earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $29.81 million, or $0.29 per share. This compares with $18.30 million, or $0.18 per share, in last year's third quarter.

Excluding items, Oceaneering International Inc. reported adjusted earnings of $38.48 million or $0.38 per share for the period.

Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.5% to $635.18 million from $559.67 million last year.

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

-Earnings (Q3): $29.81 Mln. vs. $18.30 Mln. last year. -EPS (Q3): $0.29 vs. $0.18 last year. -Analyst Estimate: $0.32 -Revenue (Q3): $635.18 Mln vs. $559.67 Mln last year.