Conrad Industries' Performance Rides High in Q3 2013

MarineLink.com
Thursday, November 14, 2013

Morgan City, Louisiana-based Conrad announce positive third quarter 2013 results, and is to pay a special cash dividend of $2.00 per share.

For the quarter ended September 30, 2013, Conrad had net income of $6.5 million and earnings per diluted share of $1.09 compared to net income of $4.4 million and earnings per diluted share of $0.74 during the third quarter of 2012.

The Company had net income of $18.5 million and earnings per diluted share of $3.10 for the nine months ended September 30, 2013 compared to net income of $12.9 million and earnings per diluted share of $2.13 for the nine months ended September 30, 2012.

Contracts & backlog
During the first nine months of 2013, Conrad added $185.6 million of backlog to its new construction segment compared to $183.5 million added to backlog during the first nine months of 2012. Backlog at September 30, 2013 was $152.3 million compared to $104.4 million at September 30, 2012, $120.7 million at December 31, 2012, and $181.8 million at June 30, 2013. The Company has signed $36.0 million of new contracts since September 30, 2013.

Conrad Industries, Inc.,
The company, 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.

 

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

People & Company News

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

DSC Dredge Receives President’s E-Star Award

DSC Dredge, LLC, based in Reserve, La., has received the 2016 President’s “E-Star” Award for exports.   In a ceremony held on May 16, 2016, at the U.S. Department

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

Shipbuilding

CBP, AMO Unveils New Interceptor Vessel

U.S. Customs and Border Protection (CBP) Air and Marine Operations (AMO) and SAFE Boat International celebrated the unveiling of AMO’s newest coastal interceptor vessel (CIV) Thursday.

Seaspan Acquires Eighth 14000 TEU Vessel

Seaspan Corporation (NYSE:SSW) announced today that it accepted delivery of a 14000 TEU containership, the YM Width. The new containership, which was constructed at CSBC Corporation,

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

Ship Repair & Conversion

Hansa Offenburg, Hansa Drakenburg Sail Scale-free

Leonhardt & Blumberg was founded in 1903 and has managed more than 180 vessels, the majority of which were general cargo vessels and bulk carriers. Today the company

Haven Marine Signs Service Contract with Svitzer

Haven Marine Services informs it has signed a five year contract with Svitzer which will see the yard service the requirements of Svitzer’s vessels within the Bristol Channel and Irish Sea areas.

BWTS Refit for Netherlands Naval Vessels

The Defense Material Organization has awarded three contracts to Goltens Worldwide’s Green Technologies business unit for the engineering and turnkey installation

Workboats

Bay Shipbuilding Delivers ATB to Moran

Fincantieri Marine Group’s Fincantieri Bay Shipbuilding (FBS) has delivered the Articulated Tug Barge unit (ATB) Barbara Carol Ann Moran and the 110,000-barrel

Tech & Design Solutions for Modern Workboats

EPA Tier 4 regulations (for engines of 804 hp and higher) and propulsion advancements have many manufacturers and vessel designers changing course to adapt to new requirements and customer demands.

Seacat Services Secures Burbo Bank Charter Deal

DONG Energy has awarded  offshore energy support vessel operator Seacat Services with the supply contract for all crew transfer services at its 258MW Burbo Bank

Finance

Defense Appropriations Bill Includes $1 Bln for US Icebreaker

The U.S. Senate Appropriations Committee’s FY2017 Defense Appropriations Bill has included $1 billion in funding to accelerate construction of a new polar icebreaker for the U.

Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.

TT Club Reports Robust Financial Results for 2015

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year.   Knud Pontoppidan,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction 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: 0.1121 sec (9 req/sec)