Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

DryShips Swings To Q4 Loss

RELATED NEWS
Trade DRYS now with 

DryShips Inc. (DRYS: Quote) Wednesday reported a swing to loss in the fourth quarter, largely on impairment losses incurred on some of its vessels.

DryShips fourth quarter net loss was $6.2 million or $0.02 per share, compared to net income of $97.9 million or $0.29 earnings per share in the prior year quarter.

Results for the quarter included impairment losses on the vessels Avoca, Padre and Positano aggregating $32.6 million or $0.09 per share. Excluding the items, adjusted earnings would have been $26.4 million or $0.07 per share for the quarter under review.

On average, nine analysts polled by Thomson Reuters expected DryShips to earn $0.07 per share for the quarter. Analysts' estimates typically exclude one-time items.

The marine transportation services for drybulk and petroleum cargoes, reported fourth quarter revenues of $328.2 million, compared to $215.8 million a year ago. Eight analysts had a consensus revenue estimate of $287.25 million for the quarter.

Voyage revenues declined to $90.5 million from $113.5 million last year. Revenues from drilling contracts more than doubled to $237.7 million from $102.3 million in the prior-year quarter.

Click here to receive FREE breaking news email alerts for DryShips, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Specialty drugmaker Horizon Pharma plc (HZNP) on Friday managed to redomicile itself as an entity incorporated in Ireland following the completion of its $660 million acquisition of Vidara Therapeutics International plc. The deal will help it avoid paying the high rate of U.S. corporate taxes. The... Stocks showed a lack of direction over the course of the trading day on Friday after failing to sustain an initial upward move. Despite the choppy trading, the Dow once again managed to end the session at a new record closing high. The major averages turned in a mixed performance on the day. President Barack Obama delivered a statement Thursday evening thanking members of Congress for voting to approve legislation granting the U.S. military the authority to train and arm moderate Syrian rebels fighting against the terrorist group known as the Islamic State.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.