Oceaneering (OII) Tops Q1 EPS by 6c

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Oceaneering Reports First Quarter 2017 Results

April 26, 2017 5:02 PM EDT

HOUSTON, April 26, 2017 /PRNewswire/ -- Oceaneering International, Inc. ("Oceaneering") (NYSE: OII) today reported a net loss of $7.5 million, or $(0.08) per share, on revenue of $446 million for the three months ended March 31, 2017.  Excluding the impacts of $2.1 million discrete tax expense and $2.2 million of pretax foreign currency exchange losses, adjusted net loss was $4.0 million, or $(0.04) per share.

For the fourth quarter of 2016, Oceaneering reported a net loss of $11.0 million, or $(0.11) per share, on revenue of $488 million.  Adjusted net income was $2.6 million, or $0.03 per share, excluding $12.9 million of pre-tax charges related primarily to... More