WASHINGTON (dpa-AFX) - Oceaneering International, Inc. (OII) Wednesday reported an increase in profit for the fourth quarter, helped mainly by higher revenues.
Net income for the quarter increased to $80.6 million or $0.74 per share from $58.3 million or $0.54 per share in the prior year quarter. On average, 22 analysts polled by Thomson Reuters expected the company to earn $0.72 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter was $780.95 million, up from $574.20 million in the comparable quarter last year, while fifteen analysts expected revenues of $736.81 million.
Looking ahead to the first quarter, the company has forecast earnings in the range of $0.55 to $0.60 per share. Analysts currently expect first-quarter earnings of $0.65 per share.
Looking ahead to the fiscal year 2013, the company forecasts earnings in the range of $3.00 to $3.25 per share. Analysts expect the company to earn $3.21 per share for 2013.
Separately, the company announced that its Board of Directors declared a regular quarterly dividend of $0.18 per common share, payable March 20, 2013 to shareholders of record at the close of business on March 1, 2013.
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