GLDD Reports Fairly Solid Q1 2014 Despite Weather
The United States' largest dredging services provider, Great Lakes Dredge & Dock Corporation has reported its financial results for the quarter ended March 31, 2014, mentioning that its Rivers & Lakes and Environmental & Remediation sectors backlog was at a record level. For the quarter ended March 31, 2014, Great Lakes reported Revenue of $174.4 million, Net loss from continuing operations of $2.5 million, and Adjusted EBITDA from continuing operations of $12.0 million. Jon Berger, Chief Executive Officer, commented, “The dredging segment delivered $162.0 million in revenue and 12.9% gross profit margin in the first quarter of 2014.
Lake Decatur Dredging Contract for GLDD
Great Lakes Dredge & Dock Corporation (GLDD) says it has signed an US$89 million contract with the City of Decatur (IL) to provide dredging services to increase the capacity of Lake Decatur. Lake Decatur, the largest lake on the Sangamon River, was created after the river was dammed in 1922. The reservoir serves as the primary raw water source for Decatur’s 76,000 residents and large industrial sector. In recent years, the city has been forced to enact water restrictions due to low water levels and drought conditions.
Gateway Technology for Ocean Measurements
Scientists at Scripps Institution of Oceanography at UC San Diego, in collaboration with two private industry firms, are developing potentially breakthrough technologies to capture vital information from the world’s oceans. Scripps researchers John Orcutt and Jon Berger developed a Memorandum of Understanding with Horton Wison Deepwater (HWD) and John Crane Production Solutions (JCPS) in developing new, uniquely stable and long-lasting ocean buoys with sensors moored to the seafloor to measure ground motion…
