DRYS - another excellent results and excellent report. Read the whole report, and you'll see this industry is easy to follow and understand. Remember, what Warren Buffett says: "I do not buy stocks of companies, whose operating I do not understand". Very, very important.
DryShips Reports Results for the Fourth Quarter and Twelve Months Ended December 31, 2007
Thursday February 14, 5:39 pm ET
ATHENS, GREECE--(MARKET WIRE)--Feb 14, 2008 -- DryShips Inc. (NasdaqGS:DRYS - News), a global provider of marine transportation services for drybulk cargoes, today announced its unaudited financial and operating results for the fourth quarter and twelve months ended December 31, 2007.
Financial Highlights
-- For the fourth quarter of 2007 the Company reported Net Income of
$195.2 million or $5.37 per share. Included in the fourth quarter results
is a capital gain on the sale of 1 vessel of $31.5 million or $0.87 per
share. Excluding this gain, Net Income would amount to $163.7 million or
$4.50 per share.
-- For the fourth quarter of 2007 the Company reported EBITDA(1) of
$229.3 million.
-- For the year ended December 2007, the Company reported Net Income of
$475.4 million or $13.32 per share. Included in the full year results is a
capital gain on the sale of 11 vessels of $135.0 million or $3.78 per
share. Excluding this gain, Net Income would amount to $340.4 million or
$9.54 per share.
-- For the year ended December 2007 the Company reported EBITDA of $600.8
million.
-- In January 2008 the Company declared and paid its eleventh consecutive
quarterly cash dividend of $0.20 per common share.
AI
