Conrad Industries 2013 Profit Slip Ameliorated by New Business

MarineLink.com
Monday, March 31, 2014
Image courtesy of Conrad Industries

Morgan City, Louisiana, shipbuilder and ship repairer Conrad Industries, has announced its fourth quarter and twelve months 2013 financial result, adding that it has acquired new business during the first quarter of 2014 totalling $67.3 million.

Q4 2013
For the quarter ended December 31, 2013, Conrad had net income of $10.1 million and earnings per diluted share of $1.70 compared to net income of $8.0 million and earnings per diluted share of $1.33 during the fourth quarter of 2012.

 Year 2013
The Company had net income of $28.6 million and earnings per diluted share of $4.80 for the twelve months ended December 31, 2013 compared to net income of $20.8 million and earnings per diluted share of $3.46 for the twelve months ended December 31, 2012.

New business

New business added during the first quarter of 2014 includes the signing of new contracts and sales of stock barges which brings estimated current backlog to approximately $155.0 million, compared to $152.9 million at December 31, 2013, $125.5 million at March 31, 2013, and $120.7 million at December 31, 2012.

New contracts added during the first quarter of 2014 include five 266’x 54’x 13’LPG tank barges, two 70’x 42’x 7’ anchor barges, a 116’ ATB Tug, four 297’6”x 54’x 12’ 30,000 bbl. tank barges, and a contract for the conversion of a MPSV (Multi- Purpose Supply Vessel.)

The Company’s financial reports are available at www.otcmarkets.com

 

 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

Karl Senner Inks Distribution Deal with Electronic Power Design

Karl Senner, LLC (KS) has reached a new strategic representation agreement with Electronic Power Design (EPD). Karl Senner, LLC now represents EPD in the United States marine and offshore Markets.

Contracts

Diana Extends Containership Time Charters

Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato   Diana Containerships Inc., a global

BMT Supports Samalaju Port Development

BMT subsidiaries in the Asia-Pacific region have been awarded a contract to provide design expertise for an advanced bulk-material handling system for the emerging port of Samalaju in East Malaysia.

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Shipbuilding

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

Workboats

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

A Classic Repower

The tug Falcon was built by Modern Marine Inc. in 1978. In the intervening years, companies that employed her have changed hands a number of times until 2013 when Vane Line Bunkering of Baltimore,

The Legal Consequences of 46 CFR Subchapter “M”

As the holiday season and the end of another year quickly approaches, the towing industry patiently waits for the Coast Guard to finalize the long-awaited towing vessel inspection rule.

Dredging

Song Thu Lays Keel for New Dredger

The construction of a new vessel of dredging fleet, project TSHD 2000, has been launched to the RS class in Da Nang, Vietnam. The keel laying ceremony was held

EU Funds Study into New Aberdeen Harbor

The EU's TEN-T Program will invest over $940,000 for development studies for a new harbor at Nigg Bay in Aberdeen, Scotland. The harbor is to support the existing

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1620 sec (6 req/sec)