Drys Earnings - Dryships Earnings 3/25/09

Dryships ( DRYS ) finally reported earnings today, March 25, 2009. After releasing a PR stating that they would release earnings on 3/24/09, they were again delayed. To no surprise, this was a horrible earnings report. Drys stock lost 11% in early trading to $4.90 per share.

DryShips posts $1.02 bln fourth-quarter loss

- Q4 EPS ex-items $0.43 misses estimates of $0.66/shr
- Sees loss from disposal of 3 capesize new buildings in Q1
- Sees loss of about $116.4 mln in Q1 related to the disposal

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