Conrad Announces 2007 Results and Share Repurchase Program

Tuesday, April 01, 2008

Conrad Industries, Inc. announced its 2007 results and a new $10 million stock repurchase program.
For the year ended December 31, 2007, Conrad achieved net income of $19.2 million and earnings per diluted share of $2.63. The Company’s Annual Report for 2007 is available at ww.pinksheets.com.
The Company also announced that its board of directors has authorized the Company to purchase up to $10 million of its common stock. The Company plans to use cash on hand or generated from operations to purchase the stock. Acquisitions may be made from time to time in the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements. The timing, prices and sizes of purchases will depend upon prevailing stock prices, general economic and market conditions and other factors as management deems appropriate. The program does not obligate the Company to acquire any particular amount of common stock, and may be commenced, suspended or discontinued at any time or from time to time in the Company’s discretion without prior notice.
The share repurchase program follows the completion of a comprehensive review of strategic initiatives to enhance shareholder value conducted by the Company’s board of directors with the assistance of Stephens Inc. as financial advisor, and has been approved unanimously by the Company’s independent directors.

 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

China Shipbuilding Plans Major Restructuring

State-owned China Shipbuilding Industry Corp (CSIC) is undertaking a major restructuring as it grapples with an industry downturn, and it will be the largest restructuring

DSME Reveals Additional Self-Restructuring Plan

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) has  revealed an additional self-restructuring plan amid the falling shipbuilding orders.

Sovcomflot IPO Soon

The long-awaited initial public offering (IPO) of Sovcomflot, which runs one of the world’s largest tanker and gas carrier fleets, has moved a step closer.    Economy

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0743 sec (13 req/sec)