OII Oceaneering International, Inc.

Management Discussion

• Certain statements we make in this quarterly report on Form 10-Q are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding our expectations about:
• These forward-looking statements are subject to various risks, uncertainties and assumptions, including those we have referred to under the headings "Risk Factors" and "Cautionary Statement Concerning Forward-Looking Statements" in Part I of our annual report on Form 10-K for the year ended December 31, 2018. Although we believe that the expectations reflected in such forward-looking statements are reasonable, because of the inherent limitations in the forecasting process, as well as the relatively volatile nature of the industries in which we operate, we can give no assurance that those expectations will prove to have been correct. Accordingly, evaluation of our future prospects must be made with caution when relying on forward-looking information.
• Our operating results for the third quarter of 2019 improved by $4.4 million over the immediately preceding quarter, largely due to increased contributions from our Subsea Products and Remotely Operated Vehicle ("ROV") segments, which were mostly offset by a lower contribution from our Advanced Technologies segment. Additionally, we had lower Unallocated Expenses, due to reduced performance-based compensation expenses in the third quarter. Our diluted earnings (loss) per share for the three- and nine-month periods ended September 30, 2019 were $(0.26) and $(0.87), respectively, as compared to $(0.67) and $(1.50) for the corresponding periods of 2018, and each of our operating segments, except Asset Integrity, contributed operating income year-to-date.