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    Oceaneering earnings surpass prior records

    News // August 2, 2002
    Oceaneering International has reported record earnings for the second quarter and the sixmonths ended June 30, 2002.

    Earnings for the quarter and the first half of 2002 were up 36 per cent and 60 per cent from those reported in the comparable periods in 2001, which at the time were record highs.

    During the second quarter, on revenues of $141.5 million, Oceaneering generated net income of $10.5 million, or $0.42 per common share. During the second quarter of 2001 the company reported revenues of $132.2 million and net income of $7.7 million, or $0.32 per common share. For the first half of 2002 and 2001 revenues were $280.4 million and $236.5 million with net income of $20.7 million, or $0.84 per share, and $12.9 million, or $0.54 per share, respectively.

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