Bright and early this morning, shipping firm DryShips (NASDAQ: DRYS) reported fourth-quarter earnings, and it is in the midst of suffering from the report.
The firm reported a fourth-quarter loss of $1.02 billion compared to a profit a year ago. The loss was attributed to revenue that fell 6.6%. The per-share loss checked in at $18.42, compared to earnings of $5.35 per share a year ago. Expectations called for a loss of 56 cents per share for the quarter. Revenue dropped to $217.9 million from $233.4 million.
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