DryShips Reports $110 Million Q2 Net Income
August 22, 2007
Greece-based DryShips, a provider of marine transportation services for drybulk cargoes, has reported net income of $110.2 million or $3.11 per share, for the second quarter of 2007.
Included in the second quarter results is a capital gain on the sale of five vessels of $53.8 million or $1.52 per share. Excluding this gain, net income would amount to $56.4 million or $1.59 per share.
For the second quarter of 2007 the company reported EBITDA, excluding vessel gains, of $87.3 million, which is claimed to be the highest excluding vessel gains reported in a single quarter since the company’s inception.