Oceaneering International: 4Q Earnings Snapshot
HOUSTON (AP) _ Oceaneering International Inc. (OII) on Wednesday reported a loss of $25 million in its fourth quarter.
On a per-share basis, the Houston-based company said it had a loss of 25 cents. Earnings, adjusted for non-recurring costs, were 2 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 22 cents per share.
The oilfield services company posted revenue of $424.3 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $426.7 million.
For the year, the company reported that its loss widened to $496.8 million, or $5.01 per share. Revenue was reported as $1.83 billion.
Oceaneering International shares have climbed 37% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.90, a drop of almost 9% in the last 12 months.