WASHINGTON (dpa-AFX) - Oceaneering International Inc. (OII) Wednesday reported first-quarter net income of $51.5 million or $0.47 per share, compared to $42.1 million or $0.39 per share last year.
On average, analysts polled by Thomson Reuters expected earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude one-time items.
Earnings improved as all business segments achieved higher operating income, led by Remotely Operated Vehicles.
Revenues for the quarter grew to $594.9 million from $470.4 million last year. Wall Street analysts on a consensus estimated revenues of $578.27 million for the quarter.
Looking forward to the second-quarter, the company expects earnings in a range of $0.64 to $0.68 per share. Analysts currently expect earnings of $0.67 per share for the quarter.
The company backed its full-year 2012 earnings range of $2.45 to $2.65 per share. Analysts currently expect earnings of $2.62 per share for the year.
The company also boosted its regular quarterly cash dividend to $0.18 from $0.15 per share.
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