Dryships Reports 3Q Results

Wednesday, November 07, 2007
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes, announced its unaudited financial and operating results for the third quarter and nine months ended September 30, 2007. For the third quarter ended September 30, 2007, Time charter equivalent revenues (Voyage revenues less voyage expenses) amounted to $140.5m as compared to $56.2m for the third quarter ended September 30, 2006. Operating Income was $118.2m for the quarter ended September 30, 2007, as compared to $15.7m for the quarter ended September 30, 2006. Net Income for the third quarter ended September 30, 2007 was $103.5m or $2.92 earnings per share calculated on 35.49m weighted average basic and diluted shares outstanding as compared to $3.5m or $0.11 earnings per share calculated on 33.23 million weighted average basic and diluted shares outstanding for the quarter ended September 30, 2006. EBITDA for the third quarter of 2007 was $136.5m as compared to $35.8m in the quarter ended September 30, 2006. An average of 33.7 vessels were owned and operated during the third quarter of 2007, earning an average Time Charter Equivalent, or TCE, rate of $45,525 per day as compared to an average of 29.8 vessels owned and operated during the third quarter of 2006 earning an average TCE rate of $20,808 per day.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Ghana to Roll out Shipping Training

Ghana is considering establishing modalities to compel shipping companies to introduce a training regime which ensures that their local staff gain professional qualifications in shipping.

Kayaktivists Poised To Launch Blockade Of Shell Icebreaker

A small group of protesters and activists are gathering at the Cathedral Park boat ramp in Portland, preparing to stay for a 24-hour vigil as they wait for Royal Dutch Shell Oil's ice-breaker ship,

KEP Marine Unveils KMGBL

KEP Marine – the manufacturer of type approved displays, computers and peripherals, announced  the release of the affordable, high-quality KMGBL Glass Bridge Light Displays.

Offshore

BSEE Updates Hurricane Reporting Requirements

BSEE is providing updated guidance for the current and future hurricane seasons through a Notice to Lessees (NTL) released July 27, 2015. NTL 2015-G02 clarifies

Offshore Wind Shift to Drive Vessel Services Cooperation

Evolving procurement processes for U.K. Round 3 offshore wind farms will require a greater number of work streams, personnel with new and differing skills, and

ABB hands over Germany’s DolWin1

DolWin1 integrates 800 megawatts (MW) of clean energy into the German transmission grid ABB, the leading power and automation technology group, has successfully

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1601 sec (6 req/sec)