Oceaneering Sinks to Loss

Oceaneering has reported a net loss of $64.1 million, or 65 cents per share, for the three months ended December 31, 2018.

The result compares with net profit of $173.6 million same time last year. During the prior quarter ended September 30, 2018, Oceaneering reported a net loss of $66 million, or 67 cents per share.

Adjusted net income was $7.3 million, or $0.07 per share, reflecting the impact of $71.4 million of net adjustments, primarily a $76.4 million pre-tax goodwill impairment in its Subsea Projects segment.

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