UPDATE: DryShips (DRYS) Reports Q1 Revenue of $11.8M

DryShips (NASDAQ: DRYS) reported Q1 EPS of ($0.69) vs ($7,708) last year. Revenue for the quarter came in at $11.8 million, versus $17.02 million reported last year.

George Economou, Chairman and Chief Executive Officer of the Company, commented:

"DryShips has come a long way since last year when we were fighting for the Company's survival. Since then we have cleaned up the Company's balance sheet and almost doubled our fleet by acquiring modern quality vessels. With this rapid expansion phase behind us we look forward to taking delivery of the vessels we have acquired in the last few months at historically low asset values and starting to generate revenue that will improve our bottom line and demonstrate the earnings capacity of our fleet over the next few quarters."

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

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