Greek drybulk shipper DryShips Inc. on Thursday said first-quarter profit more than doubled, helped by the sale of a ship.
Quarterly income rose to $176.3 million, or $4.61 per share, from $67.8 million, or $1.91 per share, last year. Results include a gain of 64 cents per share from selling ships, and a loss of 16 cents per share from valuation of interest rate swaps. Excluding one-time items, net income was $4.13 per share.
Analysts, on average, expected a profit of $4.05 per share, according to a poll by Thomson Financial.
Revenue more than doubled to $232.1 million from $86.7 million from last year. Analysts polled by Thomson Financial predicted revenue of $218.6 million.
Quarterly income rose to $176.3 million, or $4.61 per share, from $67.8 million, or $1.91 per share, last year. Results include a gain of 64 cents per share from selling ships, and a loss of 16 cents per share from valuation of interest rate swaps. Excluding one-time items, net income was $4.13 per share.
Analysts, on average, expected a profit of $4.05 per share, according to a poll by Thomson Financial.
Revenue more than doubled to $232.1 million from $86.7 million from last year. Analysts polled by Thomson Financial predicted revenue of $218.6 million.