US Shipbuilder Holds Course in 2012

MarineLink.com
Thursday, March 28, 2013

Conrad Industries announces its 2012 financial results and also the addition of new business during Q1 2013.

For the quarter ended December 31, 2012, Conrad had net income of $8.0 million and earnings per diluted share of $1.33 compared to net income of $6.8 million and earnings per diluted share of $1.09 during the fourth quarter of 2011.

The Company had net income of $20.8 million and earnings per diluted share of $3.46 for the twelve months ended December 31, 2012 compared to net income of $19.2 million and earnings per diluted share of $3.01 for the twelve months ended December 31, 2011. The diluted shares for the quarter and twelve months ended December 31, 2012 are 6.0 million, and 6.2 million and 6.4 million for the quarter and twelve months ended December 31, 2011, respectively.

New business added during the first quarter of 2013 includes the signing of new contracts and sales of stock barges which brings estimated current backlog to approximately $122.5 million, compared to $120.7 million at December 31, 2012, $70.8 million at March 31, 2012, and $47.1 million at December 31, 2011.

New contracts added during the first quarter of 2013 include two 297'6"x 54'x 12' 30,000 bbl. tank barges, two 245'x 48'x 12'LPG tank barges, a 300'x 100x 20' ocean deck barge, and a 160'x 72'x 10' deck barge.

During the first quarter of 2013, the company also sold three 297'6"x 54'x 12' 30,000 bbl. tank barges, and four tow boats which were stock vessels in progress at December 31, 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.
 

 


 

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Egypt Says Finishes Work on New Suez Canal

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah al-Sisi sees as a symbol of national pride and

CMA CGM to Resume Service to Iran

The world's third-largest container shipping group, France's CMA CGM, said on Monday it would resume operations to Iran following the deal between Tehran and world

Obituary: Yacht Designer Jörg Beiderbeck

Jörg Beiderbeck, recognized as a figure among the world’s top megayacht designers, has passed away at the age of 69 on the evening of Sunday, August 2, at his home in Bremen-Vegesack,

Finance

Egypt Says Finishes Work on New Suez Canal

Egypt has finished building its New Suez Canal, its overseer said on Wednesday, a project President Abdel Fattah al-Sisi sees as a symbol of national pride and

Harper Government Invests in Naufrage Harbor

The Honorable Gail Shea, Minister of Fisheries and Oceans, announced today an investment to improve safety and working conditions for fishermen at Naufrage Harbor, Prince Edward Island.

Strategic Marine’s Stock Program Full Power Ahead

Strategic Marine, the specialist shipbuilder and fabricator, has confirmed its stock program of personnel transport vessels is market-ready. “Our stock program

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics 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: 0.1477 sec (7 req/sec)