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    Oceaneering Announces First Quarter Earnings

    May 03, 2004

    May 3, 2004 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) today reported earnings for the first quarter ended March 31, 2004. On revenue of $166.6 million, Oceaneering generated net income of $4.8 million, or $0.19 per common share. These net results are after a non-recurring $1.2 million after-tax charge for a terminated acquisition effort. During the corresponding period in 2003, Oceaneering reported revenue of $140.7 million and net income of $6.0 million, or $0.25 per common share.

    PR 878

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