Orlando, FL -- (SBWIRE) -- 08/14/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On: DryShips Inc. (NASDAQ:DRYS), Office Depot Inc (NYSE:ODP).
DryShips Inc.(NASDAQ:DRYS) has reported mixed financial results for the second quarter of 2013. If we take, quarterly GAAP net loss into consideration, it will amount to $18.2 million or a loss of 5 cents per share, remaining same year over year. However, adjusted (excluding one-time charges) loss per share in the second quarter of 2013 was 8 cents, wider than the Zacks Consensus Estimate of a loss of 6 cents.
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Quarterly revenue stands at $328 million while total operating expenses were $297 million, up 3.8% year over year. This is because of higher voyage expanse, higher vessel operating expenses and expenses for legal settlement. Operating income in the reported quarter was $39.1 million compared with $50 million in the prior-year quarter. Adjusted EBITDA was $112.3 million compared with $140.2 million in the prior-year quarter.
The Drybulk Carrier segment generated $48.3 million in revenues, down 22.7% year over year. The total voyage days per fleet were 3,326, down 3.9% year over year. The Tanker segment generated $27.9 million in revenues, up by a whopping 174.2% year over year, while total voyage days per fleet were 910, up 64.9% year over year. Quarterly revenues from Drilling contracts were approximately $259.8 million, down 1.4% year over year.
Office Depot Inc(NYSE:ODP) has announced that it is willing to compromise with Starboard Value LP, its largest shareholder, about the composition of its board. Starboard Value LP, which holds about 14.6% of Office Depot's outstanding stock, wants to replace four board members, which Office Depot has said would impair the search for a CEO to lead a new company that will be formed in a tie-up with OfficeMax, which could be a $1.2 billion merger.
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Office Depot said Tuesday that if the two directors, Tom Colligan and Marsha Evans, are re-elected, then it will be open to any of the three Starboard Value LP nominees supported by two proxy advisory firms, which are also joining its board. On Monday Office Depot Inc. and OfficeMax said that they'd narrowed their list of CEO candidates to five and plan to name that person in September.
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