TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration (NASDAQ:OMEX - News), the world’s leader in the field of deep-ocean shipwreck exploration, today filed a quarterly report with the Securities and Exchange Commission detailing results of the Company's third quarter 2007.
For the third quarter of 2007, Odyssey reported revenue of $1.3 million, compared to $.6 million in the third quarter 2006. The Company reported a net loss of $5.4 million, compared to a net loss of $6.2 million for the third quarter of 2006. The net loss per share for the third quarter was $.11, compared to $.13 per share in the third quarter 2006.
"We are pleased to report an increase in revenue during the third quarter of 2007 compared to the previous year. While revenue numbers are still not where we would like them to be, we are continuing to add additional sales channels and marketing programs which we anticipate will have a positive effect on our revenues in the future. In spite of the additional expenses associated with the Black Swan recovery earlier this year, overall expenses have not increased. Following the recent safe departure of our second vessel from Gibraltar after having been effectively blockaded by Spain for several months, we are now looking forward to putting both ships back to work,” said John C. Morris, Odyssey’s Chief Executive Officer.
Full Report: http://biz.yahoo.com/bw/071107/20071107006637.html?.v=1