• Sign up for the Daily Digest E-mail

BOE Report

  • Home
  • Headlines
    • Canada
    • USA
    • Columns
    • Discussions
  • Plays
    • Cardium Sandstone
    • Duvernay Shale
    • Montney Shale
    • Shaunavon
    • Viking Sandstone
    • Williston Basin
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Database
  • Markets
    • Canada Market Quotes
    • USA Market Quotes
    • Canada Well Licences
    • Canada Rig Count
    • USA Rig Count
    • USA Market Data
  • Advocacy
  • Data
  • Jobs

Conrad Industries Announces Third Quarter 2015 Results and Backlog

November 16, 20158:05 AM PR Newswire

MORGAN CITY, La., Nov. 16, 2015 /PRNewswire/ — Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced today its third quarter and nine months 2015 financial results and backlog at September 30, 2015.

For the quarter ended September 30, 2015, Conrad had net income of $2.0 million and earnings per diluted share of $0.35 compared to net income of $4.5 million and earnings per diluted share of $0.74 during the third quarter of 2014. The Company had net income of $7.2 million and earnings per diluted share of $1.24 for the nine months ended September 30, 2015 compared to net income of $17.7 million and earnings per diluted share of $2.96 for the nine months ended September 30, 2014. Results for the three and nine months ended September 30, 2015 included research and development tax credits of $0.8 million and $2.5 million, respectively. The Company’s financial reports are available at www.otcmarkets.com.

Conrad’s backlog was $91.1 million at September 30, 2015, $180.2 million at December 31, 2014 and $135.0 million at September 30, 2014. Since September 30, 2015, and as of November 13, 2015, the Company has signed $147.5 million of new contracts.

Johnny Conrad, President and CEO, stated, “Our results for the first nine months of 2015 reflect a continued challenging operating environment, with decreased demand and pricing pressure in both new construction and repair. The repair market continues to be soft, which we believe is due primarily to the decline in crude oil prices.

Our management team has been working hard to pursue opportunities to expand our products and services. During March 2015, we entered into a contract to construct the first LNG bunker barge to be built for the marine market in North America.  In November 2015, we entered into contracts to construct articulated tug barges (ATBs), which include 80,000 barrel barge units. We believe our capital improvement program at our Deepwater South yard has strengthened our ability to compete for these types of projects. Our management team is focused on effectively executing our backlog. We plan to continue to be responsive to changing market conditions and look for ways to continue to enhance shareholder value.”

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 five shipyards located in southern Louisiana and Texas.

For Information Contact:
Cecil Hernandez (985) 702-0195
CAHernandez@ConradIndustries.com

 

SOURCE Conrad Industries, Inc.

LNG

Follow the BOE Report
  • linkedin
  • facebook
  • twitter
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Oil rises 3% this week on OPEC supply cuts and US-China trade hopes
  • With politics at play, CAODC remains hopeful but not optimistic Trans Mountain Expansion Project (TMX) will proceed.
  • Canada Weekly Rig Count Down 12 to 212
  • A look at 16 new recommendations for Ottawa on the Trans Mountain pipeline
  • U.S. oil drillers cut rigs for first week in three

Return to home page
OSY Rentals

About
  • About BOEReport.com
  • In the News
  • Terms of Use
  • Privacy Policy
Resources
  • App
  • Widgets
  • Desktop
  • Daily Digest E-mail
Get In Touch
  • Advertise
  • Post an Announcement
  • Post a Job
  • Contribute
  • Contact
Featured In
  • CamTrader
  • Rigger Talk
BOE Network
Copyright © 2019 Grobes Media Inc.