Conrad Industries Announces 2011 Results

Press Release
Thursday, March 29, 2012

Conrad Industries Inc. announced its fourth-quarter and twelve months 2011 results and the addition of new business during the first quarter totaling $61.8 million.

For the quarter ended December 31, 2011, Conrad had net income of $6.8 million and earnings per diluted share of $1.09, compared to net income of $3.3 million and earnings per diluted share of $0.51 during the fourth quarter of 2010. The Company had net income of $19.2 million and earnings per diluted share of $3.01 for the twelve months ended December 31, 2011, compared to net income of $10.3 million and earnings per diluted share of $1.60 for the twelve months ended December 31, 2010. The diluted shares for the quarter and twelve months ended December 31, 2011 are 6.2 million and 6.4 million, respectively, and 6.4 million for the quarter and twelve months ended December 31, 2010. The Company’s financial reports are available at www.otcmarkets.com.

New business added during the first quarter of 2012 includes the signing of new contracts and sales of stock barges, which brings estimated current backlog to approximately $68.7 million, compared to $47.1 million at December 31, 2011, $112.3 million at March 31, 2011, and $89.5 million at December 31, 2010.

New contracts added during the first quarter of 2012 include four 297’6”x 54’x 12’ 30,000 bbl. tank barges, a 245’x 48’x 12’LPG tank barge, a 260’x 72’x 16’ ocean deck barge, a 200’x 52’x 12’ ocean going deck cargo barge, a 250’x 72’x 12’ crane barge, a 120’x 50’x 8’ inland spud barge and a 224’x 42’x 10’ double skin tank barge with stainless steel cargo tanks.
 


People & Company News

MN100: BlueTide Communications

The Company: BlueTide is a leader in the provisioning, implementation, monitoring and support of satellite equipment. Combining the power of HUGHES proprietary

Transas to Unveil the ‘Future of Maritime Operations’

Today's maritime industry requires realistic solutions and concepts for a modern, integrated operational infrastructure that delivers a sustainable, viable future,

Hammond New International Sales Manager, Fairline Yachts

British luxury motor yacht manufacturer, Fairline Yachts, announces Robert Hammond as its new International Sales Manager. Robert will be responsible for Fairline's

Finance

Meyer Turku Continues Shipyard Investments

Meyer Turku shipyard  has further enlarged it’s investment package with a new 75 million euro steel storage and pretreatment facility. This is already a third large

Carriers have Withdrawn Extremely Low Spot Market Freight Rates - Drewry

Drewry’s Global Freight Rate Index, a weighted average of spot container freight rates across all major routes except intra-Asia, swung back in July by 13% to reach $1,403 per 40ft box.

Hapag-Lloyd Cruises Orders Two Vessels

TUI Group, the world’s number one tourism group, will invest in two new-builds for its Hamburg-based subsidiary Hapag-Lloyd Cruises. The two, new, 5-star expedition

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Sonar 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: 0.1013 sec (10 req/sec)