MORGAN CITY, La., March 31, 2014 /PRNewswire/ -- Conrad Industries,
Inc. (OTC Pink Sheets: CNRD.PK) today announced its fourth quarter
and twelve months 2013 results and the addition of new business
during the first quarter of 2014 totaling $67.3 million.
For the quarter ended December 31,
2013, Conrad had net income of $10.1
million and earnings per diluted share of $1.70 compared to net income of $8.0 million and earnings per diluted share of
$1.33 during the fourth quarter of
2012. The Company had net income of $28.6
million and earnings per diluted share of $4.80 for the twelve months ended December 31, 2013 compared to net income of
$20.8 million and earnings per
diluted share of $3.46 for the twelve
months ended December 31, 2012. The
Company's financial reports are available at
www.otcmarkets.com.
New business added during the first quarter of 2014 includes the
signing of new contracts and sales of stock barges which brings
estimated current backlog to approximately $155.0 million, compared to $152.9 million at December
31, 2013, $125.5 million at
March 31, 2013, and $120.7 million at December
31, 2012.
New contracts added during the first quarter of 2014 include
five 266'x 54'x 13'LPG tank barges, two 70'x 42'x 7' anchor barges,
a 116' ATB Tug, four 297'6"x 54'x 12' 30,000 bbl. tank barges, and
a contract for the conversion of a MPSV (Multi-Purpose Supply
Vessel.)
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.