The company posted a quarterly income of $22.3 million, or 23 cents per share, compared to $65.5 million, or 66 cents per share, a year ago.
The company's remotely operated vehicles (ROV) and subsea products businesses fared poorly, with both segments booking declines in income.
The ROV segment reported operating income of $18 million, compared to $61.3 million a year ago.
