Conrad Industries Ratchet Up Q2 2013 Profits

MarineLink.com
Wednesday, August 14, 2013

 Conrad Industries, Inc., headquartered in Louisiana, announce its second quarter and six months 2013 financial results and backlog at June 30, 2013.

For the quarter ended June 30, 2013, Conrad had net income of $6.1 million and earnings per diluted share of $1.02 compared to net income of $5.3 million and earnings per diluted share of $0.87 during the second quarter of 2012.

The company had net income of $12.0 million and earnings per diluted share of $2.01 for the six months ended June 30, 2013 compared to net income of $8.5 million and earnings per diluted share of $1.39 for the six months ended June 30, 2012.

The diluted weighted average shares outstanding for the six months ended June 30, 2013 and June 30, 2012 are 6.0 million and 6.1 million, respectively.

During the first six months of 2013, Conrad added $152.0 million of backlog to its new construction segment compared to $89.9 million added to backlog during the first six months of 2012. Backlog was $181.8 million at June 30, 2013, $120.7 million at December 31, 2012 and $57.2 million at June 30, 2012.

Conrad Industries, Inc.
, established in 1948 and headquartered in Morgan City, Louisiana, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.

The company's financial reports are available at: www.otcmarkets.com
 

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