Oceaneering International, Inc. expected to Report Fiscal Year 2009 Results on February 15, 2010. This event was calculated by Capital IQ (Created on November 2, 2009).

Oceaneering International Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported revenue of $484 million and net income of $49.8 million, or $0.90 per diluted share. For the third quarter of 2008, the company reported revenue of $516 million and net income of $55.0 million, or $0.98 per diluted share. Sequentially, quarterly earnings improved on solid growth in ROV operating income. Income from operations was $76.3 million compared to $89.7 million for the same period a year ago. Income before income taxes was $76.7 million compared to $84.5 million for the same period a year ago. EBITDA for the quarter was $109.9 million compared to $115.2 million for the same period a year ago. Year-over-year, quarterly earnings declined primarily due to lower Subsea Products operating income on a decrease in umbilical plant throughput and higher BOP Control System development and manufacturing costs. During the quarter, capital expenditures were $55 million, of which $47 million was in support of growing and upgrading ROV fleet. As of September 30, 2009, the company had $120 million of debt, over $80 million of cash, and $200 million available under revolving credit facility. For the nine months, the company reported income from operations of $219.9 million, income before income tax of $218.9 million, net income of $142.3 million, net income attributable to share holders of the company of $141.3 million or $2.57 per diluted share on the revenue of $1.4 billion against income from operations of $235.9 million, income before income tax of $228.2 million, net income of $148.4 million, net income attributable to share holders of the company of $146.8 million or $2.64 per diluted share on the revenue of $1.5 billion for the same period a year ago. EBITDA for the nine months was $314.2 million compared to $319.6 million for the same period a year ago. For the fourth quarter of 2009, the company is forecasting EPS of $0.75 to $0.81. For the year 2009, the company expects to reported net income in the range of $184,000 to $187,000 and EBITDA in the range of $413,000 to $418,000. The company is now narrowing earnings guidance range to $3.32 to $3.38 for the year 2009. For the year 2010, the company expects to reported net income in the range of $181,000 to $197,000 and EBITDA in the range of $414,000 to $444,000. The company is forecasting 2010 EPS to be relatively flat with 2009, in the range of $3.25 to $3.55. For 2010, the company anticipates generating in excess of $300 million of cash flow, simply defined as net income plus depreciation and amortization. This projected cash flow would provide ample resources to invest in Oceaneering's growth, either organically or through acquisitions.

Oceaneering International, Inc. reported earnings for the third quarter ended September 30, 2009. On revenue of $484 million, Oceaneering generated net income of $49.8 million, or $0.90 per share. For the third quarter of 2008, Oceaneering reported revenue of $516 million and net income of $55.0 million, or $0.98 per share. For the second quarter of 2009, Oceaneering reported revenue of $451 million and net income of $48.1 million, or $0.87 per share. T. Jay Collins, President and Chief Executive Officer, stated, "Our third quarter performance was highlighted by record ROV operating income. Earnings per share were at the top end of our guidance range. All of our business segments had operating income performances in line with or better than what we had expected, with the exception of Subsea Products. For 2010, we anticipate generating in excess of $300 million of cash flow, simply defined as net income plus depreciation and amortization. This projected cash flow would provide ample resources to invest in Oceaneering's growth, either organically or through acquisitions.”