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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Delia Succeeds Schmidt as Ohmsett Program Manager

MAR Incorporated has named John Delia the Program manager for Ohmsett – The National Oil Spill Response Research & Renewable Energy Test Facility, succeeding Bill Schmidt who retired in December 2015.

SBM Offshore: US Authorities Reopen Corruption Probe

SBM Offshore, the world's top oil production ship leasing company, said on Wednesday that U.S. authorities had re-opened an inquiry into bribery allegations involving the Dutch company.

The Next Generation of Hull Performance Management

Hull performance monitoring solutions can offer significant fuel savings potential, a fact that is prompting growing interest from the maritime industry. To spur

Offshore

SBM Offshore: US Authorities Reopen Corruption Probe

SBM Offshore, the world's top oil production ship leasing company, said on Wednesday that U.S. authorities had re-opened an inquiry into bribery allegations involving the Dutch company.

Parker Bestobell to Supply Valves for FSRU Newbuilds

Parker Bestobell Marine has recently completed a contract to supply cryogenic Globe and Check valves made in Sheffield, for Hoegh LNG’s series of five FSRUs (Floating

U.S. Okays ConocoPhillips Alaska LNG Exports

The U.S. Department of Energy approved ConocoPhillips' application to export about 40 billion cubic feet of natural gas from its Kenai liquefied natural gas export

 
 
Maritime Careers / Shipboard Positions Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair 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: 0.0934 sec (11 req/sec)