DALLAS, Jan. 29, 2010 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring shipping company DryShips Inc. (Nasdaq:DRYS). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.beaconequity.com/i/DRYS
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DryShips Inc. (DRYS) owns, through its subsidiaries, a fleet of 40 drybulk carriers comprised of seven Capesize, 29 Panamax, two Supramax, and two newbuilding drybulk vessels, as well as two ultra-deep-water semi-submersible drilling rigs and two ultra-deep-water newbuilding drillships. The Company's drybulk fleet carries a variety of drybulk commodities including coal, iron ore, and grains, bauxite, phosphate, fertilizers and steel products.
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In the report, the analyst notes:
“The Company recorded a net profit of $35.6 million, or $0.12 basic and diluted profit per share, for the three-month period ended September 30, 2009, as compared to a net profit of $180.0 million, or $4.13 basic and diluted earnings per share for the three-month period ended September 30, 2008. EBITDA, which is defined and reconciled later in this press release, was $104.8 million for the third quarter of 2009 as compared to $258.5 million for the same period in 2008.
“DRYS in early December said it has terminated an agreement to buy two Panamax vessels as it could not get a period employment contract for the vessels within the agreed timeframe with the sellers. The agreement was terminated at no cost to the Company, DryShips said. Panamax vessels are the second largest type of dry bulk ships and their name is derived from their ability to pass through the Panama Canal.”
To read the entire report visit: http://www.beaconequity.com/i/DRYS
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