DryShips (DRYS) Posts Q1 adj.-Loss of 78c/Share

DryShips (NASDAQ: DRYS) reported Q1 EPS of $2.05, versus ($2.23) reported last year. Revenue for the quarter came in at $11.86 million, versus $492.1 million reported last year.

• For the first quarter of 2016, the Company reported a net income of $55.4 million, or $2.05 basic and diluted earnings per share. Included in the first quarter 2016 results are:
  • Vessel impairment charges and loss on sales, of $40.8 million, or $1.53 per share.
  • Net income pick-up from the Company's 40.4% ownership in Ocean Rig, of $116.5 million, or $4.36 per share.
• Excluding the above, the Company's net results would have amounted to a net loss of $20.3 million, or $0.78 per share.

For earnings history and earnings-related data on DryShips (DRYS) click here.

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