Conrad Reports 2Q Profit of $1.4 Mln

For the quarter ended June 30, 2017, U.S. shipbuilder Conrad Industries, Inc. reported a net income of $1.4 million and earnings per diluted share of $0.27, up from $1.3 million and earnings per diluted share of $.25 for the second quarter of 2016.

The company’s net income for the six months ended June 30, 2017 was $1.5 million with earnings per diluted share of $0.29, down from $3.9 million and earnings per diluted share of $.74 for same period last year.

Conrad said results for the quarter and six months ended June 30, 2016 included research and development tax credits of $0.6 million and $1.2 million, respectively, while no research and development tax credits are included in the results for the 2017 periods.

Conrad’s backlog was $152 million at June 30, 2017, $216.5 million at December 31, 2016 and $248.7 million at June 30, 2016.