-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DvwY/l2YQm2ZKnEx9zOwhZLapa1A3kgdjb4VFM94xAfxXUmjVP4k9tnK9FT2I1ji RDDpQipXBpPwfcl+9sXpvQ== 0000073756-96-000014.txt : 19961111 0000073756-96-000014.hdr.sgml : 19961111 ACCESSION NUMBER: 0000073756-96-000014 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19960930 FILED AS OF DATE: 19961108 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: OCEANEERING INTERNATIONAL INC CENTRAL INDEX KEY: 0000073756 STANDARD INDUSTRIAL CLASSIFICATION: OIL, GAS FIELD SERVICES, NBC [1389] IRS NUMBER: 952628227 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-10945 FILM NUMBER: 96657318 BUSINESS ADDRESS: STREET 1: 16001 PARK TEN PL STE 600 CITY: HOUSTON STATE: TX ZIP: 77084 BUSINESS PHONE: 7135788868 10-Q/A 1 FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 1996 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 1-10945 OCEANEERING INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) DELAWARE 95-2628227 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 16001 Park Ten Place, Suite 600 Houston, Texas 77084 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (713) 578-8868 Not Applicable (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X , No . Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Class Outstanding at October 25, 1996 Common Stock, $.25 Par Value 23,825,359 shares The quarters ending June 30 and September 30 have generally been the Company's peak in both revenues and net income for its Oilfield Marine business. Revenues and net income in the Offshore Field Development and Advanced Technologies businesses are generally not seasonal. Oilfield Marine Services Revenue and gross margin information is as follows: Three Months Ended Six Months Ended September 30, September 30, 1996 1995 1996 1995 (in thousands) Revenues $ 43,560 $ 36,464 $ 85,199 $68,045 Gross Margin 8,605 7,986 15,949 13,544 Gross margin % 20% 22% 19% 20% Revenues and gross margins for the three-month and six-month periods ended September 30, 1996 increased over the corresponding periods of the prior year as a result of higher activity in ROV and diving and related vessel service lines. Gross margin percentage declined over the corresponding periods of the prior year. Gross margin for the three-month and six-month periods ended September 30, 1995 included a gain of $1.1 million arising from the settlement of a dispute relating to a contract executed in West Africa in fiscal 1992 which increased gross margin percentage by 3% and 2% respectively. Offshore Field Development Revenue and gross margin information is as follows: Three Months Ended Six Months Ended September 30, September 30, 1996 1995 1996 1995 (in thousands) Revenues $ 22,970 $ 20,889 $ 39,534 $44,510 Gross Margin 4,610 4,511 7,956 9,318 Gross margin % 20% 22% 20% 21% Revenues and gross margins for offshore field development were higher in the three-month period ended September 30, 1996 compared to the corresponding period of the prior year as a result of increases in the Company's mobile offshore production systems business and subsea product sales. Revenues and gross margins include results from the Company's second FPSO, the ZAFIRO PRODUCER, which commenced operations in late August 1996 and the OCEAN PRODUCER which continued to work offshore West Africa under a contract which expires in January 2000. Revenues and gross margins for offshore production systems were lower in the six-month period ended September 30, 1996 compared to the corresponding period of the prior year. Results for the prior year included a project to convert a rig to a production system; the Company did not have a similar project underway during the second SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. OCEANEERING INTERNATIONAL, INC. (Registrant) Date: November 05, 1996 By: //s// JOHN R. HUFF John R. Huff, President and Chief Executive Officer Date: November 05, 1996 By: //s// MARVIN J. MIGURA Marvin J. Migura, Senior Vice President and Chief Financial Officer Date: November 05, 1996 By: //s// RICHARD V. CHIDLOW Richard V. Chidlow, Controller and Chief Accounting Officer -----END PRIVACY-ENHANCED MESSAGE-----