Conrad announces end-of-year results, new business
MORGAN CITY, La. — Conrad Industries, announced on March 28 its fourth quarter and 12 months 2012 results and the addition of new business during the first quarter of 2013 totaling $51.4 million.
For the quarter ended Dec. 31, 2012, Conrad had net income of $8 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 Dec. 31, 2012 compared to net income of $19.2 million and earnings per diluted share of $3.01 for the twelve months ended Dec. 31, 2011.
New business added during the first quarter of 2013 includes the signing of new contracts and sales of stock barges which bring estimated current backlog to approximately $122.5 million, compared to $120.7 million at Dec. 31, 2012, $70.8 million at March 31, 2012, and $47.1 million at Dec. 31, 2011.
Conrad Industries, established in 1948 and headquartered in Morgan City, 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.