April 28, 2005 – Houston, Texas – Oceaneering International, Inc. (NYSE:OII) today reported record first quarter earnings for the period ended March 31, 2005. On revenue of $210.7 million, Oceaneering generated net income of $10.6 million, or $0.40 per share. During the corresponding period in 2004, Oceaneering reported revenue of $166.6 million and net income of $4.8 million, or $0.19 per share.
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