May 22, 2013 / 8:22 PM / 4 years ago

DryShips reports loss on weak charter rates

May 22 (Reuters) - DryShips Inc, a drybulk shipper and offshore contract driller, posted a sixth straight quarterly loss due to weak charter rates.

Net loss widened to $116.6 million, or 30 cents per share, in the first quarter, from $47.5 million, or 12 cents per share, a year earlier.

Excluding the sale of four drybulk vessels, the company reported a loss of 10 cents per share, in line with analysts' average estimate, according to Thomson Reuters I/B/E/S.

Revenue rose 29 percent to $319.71 million.

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