Oceaneering (OII) Tops Q4 EPS by 24c

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Oceaneering Reports Fourth Quarter and Full Year 2019 Results

February 24, 2020 5:01 PM EST

HOUSTON, Feb. 24, 2020 /PRNewswire/ -- Oceaneering International, Inc. ("Oceaneering") (NYSE: OII) today reported a net loss of $263 million, or $(2.66) per share, on revenue of $561 million for the three months ended December 31, 2019.  Adjusted net income was $2.5 million, or $0.03 per share, reflecting the impact of $255 million of pre-tax adjustments, primarily $240 million associated with asset impairments, write-downs and write-offs recognized during the quarter.  During the prior quarter ended September 30, 2019, Oceaneering reported a net loss of $25.5 million, or $(0.26) per share, on revenue of $498 million, and an adjusted net loss of $29.7 million, or $(0.30) per share.

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