DryShips Q1 Loss Widens

DryShips' results for the company's Q1 have been released. For the quarter, revenues were nearly $320 million, representing a substantial climb from the $247 million in the same period the previous year. However, attributable net loss deepened considerably over the same time frame, to $117 million ($0.30 per diluted share) from Q1 2012's shortfall of $47 million ($0.12).

Much of the most recent quarter's red bottom-line number can be attributed to losses on the sale of four of the company's ships. These totaled $75.3 million ($0.20 per share).

Analysts had been expecting revenue of just over $309 billion, and a per-share loss of $0.10 for DryShips' most recent quarter.

The article DryShips Q1 Loss Widens originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in DryShips. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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