Gabelli On OII 1Q11 EPS

Gabelli & Company has issued a report regarding the 1Q11 results from Oceaneering Intl OII. According to Gabelli, "Yesterday the company reported Q1 2011 results: o Net sales $470 million down 6% from Q4 2010 but up 8% from Q1 2010 o EBITDA of $96.8 million vs. $112.4 million in Q4 2010 and $100.9 million Q1 2010 o EPS of $0.77 vs. $0.88 in Q4 2010 and $0.80 in Q1 2010 o A lower tax rate added $0.03 to EPS." OII is Hold rated and closed at $88.37 yesterday.