DALLAS, June 9, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring DryShips Inc. (Nasdaq:DRYS). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/lp/DRYS
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. DRYS employs its drybulk vessels under period time charters, on bareboat charters, in the spot charter market and in drybulk carrier pools. Its subsidiaries include Ocean Rig ASA, DrillShips Investment Inc. and Primelead Shareholders Inc.
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In the report, the analyst notes:
"For the first quarter of 2010, the Company reported net income of $5.7 million, or $0.01 basic and diluted earnings per share. Included in the first quarter 2010 results are various items, totaling $61.9 million, or $0.26 per share, which are described below. Excluding these items, net income amounted to $67.6 million, or $0.27 per share.
"For the last two years, the Company has worked to build its drillships business through the acquisition of Ocean Rig UDW Inc., which DRYS planned on building up then spinning out, possibly through an initial public offering. However, DRYS previously stated that before an IPO it needs two of its four new ships under long-term charter contracts.
"Ocean Rig has secured contracts for the construction of four newbuilding advanced capability ultra-deep water (UDW) drillships, which are to be delivered to DRYS in 2011, and DRYS is scheduled to complete UDW drilling unit in 2011."
To read the entire report visit: www.microstockprofit.com/lp/DRYS
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