Odyssey Marine Exploration Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period the company reported revenue of $863,072 compared to $2,899,752 a year ago. Loss from operations was $7,807,183 compared to $4,643,061 a year ago. Loss before income taxes was $9,514,637 compared to $5,481,799 a year ago. Net loss was $9,665,379 or $0.12 per basic and diluted share compared to $5,481,799 or $0.08 per basic and diluted share compared a year ago. The decrease in total revenue is primarily attributed to lower revenue from expedition charter services, offset in part by a $0.7 million increase in artifact and other sales. Net income does not include the $15 million received for the sale of Odyssey's 15% stake in Oceanica, as required pursuant to accounting standards, but does include the $3.7 million of operational and research expenses.

Odyssey Marine Exploration Inc. has published a new series of scientific papers on the Tortugas shipwreck which was originally excavated in 1990 and 1991. The Tortugas shipwreck is believed to be the remains of the 117-ton Buen Jesús Nuestra Señora del Rosario, one of the vessels sailing with the 1622 Tierra Firme treasure fleet bound for Spain. The papers are included in Oceans Odyssey 3: The Deep-Sea Tortugas Shipwreck, Straits of Florida: A Merchant Vessel from Spain's 1622 Tierra Firme Fleet, recently published by Oxbow Books, Oxford. This is the third volume of Oceans Odyssey detailing Odyssey's pioneering archaeological work. The Tortugas shipwreck was discovered in the Straits of Florida in 1989 at a depth of 405 meters. The fieldwork commenced in 1990 and was the world's first comprehensive deep-ocean archaeological excavation conducted exclusively using advanced robotics and acoustic positioning. Nearly 17,000 artifacts, ranging from gold bars to silver coins, pearls, ceramics, beads, glassware, astrolabes, tortoiseshell, animal bones and seeds, were recovered from the site during the 1990-1991 excavation seasons. The Tortugas shipwreck reflects the daily life of trade with the Americas at the end of the Golden Age of Spain and demonstrated the capabilities of deep-sea robotics as tools for precision archaeological excavation. Built in Portugal and operated by Spanish merchants, the Buen Jesús was part of the Spanish Tierra Firme flota lost in September 1622 during a ferocious hurricane that struck the Florida Keys. Evidence suggests that this merchant navio had sailed from Seville to Cumana in eastern Venezuela to pick up a large consignment of pearls and probably the newly cultivated cash crop tobacco as well as other valuables including gold and silver from the New World.

Odyssey Marine Exploration Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the year, the company reported total revenue of $13,197,515 compared to $15,727,232 for the same period a year ago. Loss from operations was $15,585,876 compared to $15,368,702 for the same period a year ago. Loss before income taxes was $18,184,113 compared to $16,225,308 for the same period a year ago. Net loss was $18,184,113 compared to $16,225,308 for the same period a year ago. Basic and diluted loss per share was $0.25 compared to $0.28 for the same period a year ago. The decrease in total revenue year-over-year is primarily attributed to lower revenue from expedition charter services, offset in part by a $7.6 million increase in artifact and other sales. For the quarter, the company’s net loss for the fourth quarter was $0.9 million or $0.01 per share, as compared to a net loss of $4.0 million or $0.06 per share in the same year-ago quarter. Total revenue in the fourth quarter of 2012 was $7.9 million, as compared to $0.9 million in the same year-ago quarter.