Boston, MA 03/07/2014 (wallstreetpr) – DryShips Inc. (NASDAQ:DRYS) mixed fourth quarter and full year results continue to eat up on the company in the market as it continues to plummet. DryShips shares went down on Thursday trading session by 2.90% to close the day at weak margins of $4.02 a share.
The slide in Thursday trading session comes at the back of the company, reporting a quarterly net loss of $24.4 million for its fourth quarter down from high net loss of $129.9 million same quarter a year ago. DryShips net loss for the quarter was slightly above that of consensus estimates of 2 cent a share.
Better days on the horizon for DryShips
There seem to be a feeling in the market that whatever DryShips is experiencing in the market is just a blip, as many analysts in the industry continue to have an optimism that the dry bulk shipping market will soon get better at least for a short term. Recently there has been a surge in the demand for dry shipping of which many of the key players won’t be able to cater for, which may cause the shipping rates to shoot up.
It is not a secret that DryShips has been suffering in the market especially after the economic crisis of 2008, but things are slowly but picking up. Its fourth quarter report is a clear indication of the gains that are starting to come up, in the industry. During the quarter the company was able to substantially reduce its losses as it gears up for an even better performance in the current quarter.
DryShips Inc. (NASDAQ:DRYS) dry bulk carrier segment has been performing well in the market in the recent past having registered total revenues of $53 million in the fourth an increase of 30.1%. The company has promised to build up on this, although its key operating business continues to produce less than expected results. Asset prices have been rising in the market which is a clear indication of the current market condition.
