FreeSeas swings to profit in Q2
Shares of FreeSeas Inc. (Nasdaq: FREE) are gaining ground in pre-market trading this morning after the provider of seaborne transportation for drybulk cargoes reported Monday night that it swung to a profit in the second quarter.
For the three months ended June 30, the Greek company recorded net income of 1.71 million, or $0.27 per share, compared with a net loss of $0.6 million, or $0.10 per share, in same quarter 2006.
Shares of FreeSeas (FREE) rose $0.36, or 4.71%, to $8.00 in pre-market trading.
