DryShips Reports 1Q 2013 Financial and Operating Results

MarineLink.com
Thursday, May 23, 2013

DryShips Inc., an international provider of marine transportation services for drybulk and petroleum cargos, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, announced its unaudited financial and operating results for the first quarter ended March 31, 2013.

First Quarter 2013 Financial Highlights

    For the first quarter of 2013, the Company reported a net loss of $116.6 million, or $0.30 basic and diluted loss per share.

    Included in the first quarter 2013 results are:

    -- Losses on the sale of four newbuilding drybulk vessels, of $75.3 million, or $0.20 per share.

    Excluding the above items, the Company's net results would have amounted to a net loss of $41.3 million, or $0.10 per share.

    The Company reported Adjusted EBITDA of $112.0 million for the first quarter of 2013, as compared to $104.1 million for the first quarter of 2012.

The full report can be viewed online here.

www.dryships.com

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