FreeSeas (FREE) Tops Q3 Views; Cuts Qtr. Dividend by 62.5% to $0.075/Share

November 13, 2008 4:36 PM EST

FreeSeas Inc. (Nasdaq: FREE) reports Q3 EPS of $0.44, 4 cents better than the analyst estimate of $0.40. Revenue for the quarter was $22.32 million, versus the consensus of $22.19 million.

Cut its quarterly dividend by 62.5% from $0.20 to $0.075 per common share, payable on December 3, 2008 to shareholders of record as of November 24, 2008.

FreeSeas, Inc., through its subsidiaries, operates as an international drybulk shipping company.


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