Conrad Industries Inc (OTC:CNRD)

Second Quarter 2013 Results

MORGAN CITY, La., Aug. 14, 2013 /PRNewswire/ -- Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced today its second quarter and six months 2013 financial results and backlog at June 30, 2013.

For the quarter ended June 30, 2013, Conrad had net income of $6.1 million and earnings per diluted share of $1.02 compared to net income of $5.3 million and earnings per diluted share of $0.87 during the second quarter of 2012. The Company had net income of $12.0 million and earnings per diluted share of $2.01 for the six months ended June 30, 2013 compared to net income of $8.5 million and earnings per diluted share of $1.39 for the six months ended June 30, 2012. The diluted weighted average shares outstanding for the six months ended June 30, 2013 and June 30, 2012 are 6.0 million and 6.1 million, respectively.

During the first six months of 2013, Conrad added $152.0 million of backlog to its new construction segment compared to $89.9 million added to backlog during the first six months of 2012. Backlog was $181.8 million at June 30, 2013, $120.7 million at December 31, 2012 and $57.2 million at June 30, 2012. 

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 four shipyards located in southern Louisiana and Texas.

MORGAN CITY, La., May 14, 2013 /PRNewswire/ -- Conrad Industries, Inc. (OTC Pink: CNRD.PK) announced today its first quarter 2013 results and backlog.

For the quarter ended March 31, 2013, Conrad achieved net income of $5.9 million and earnings per diluted share of $0.99 compared to net income of $3.2 million and earnings per diluted share of $0.52 during the first quarter of 2012.  The diluted shares for the quarter ended March 31, 2013 are 6.0 million compared to 6.1 million for the quarter ended March 31, 2012. The Company's financial reports are available at www.otcmarkets.com.

Conrad's backlog was $125.5 million at March 31, 2013 compared to $120.7 million at December 31, 2012 and $70.8 million at March 31, 2012.

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 four shipyards located in southern Louisiana and Texas.

Fourth Quarter and Full Year 2011 Results

• For the quarter ended December 31, 2011, Conrad had net income of $6.8 million and earnings per diluted share of $1.09 compared to net income of $3.3 million and earnings per diluted share of $0.51 during the fourth quarter of 2010.
• The Company had net income of $19.2 million and earnings per diluted share of $3.01 for the twelve months ended December 31, 2011 compared to net income of $10.3 million and earnings per diluted share of $1.60 for the twelve months ended December 31, 2010.

New business added during the first quarter of 2012 includes the signing of new contracts and sales of stock barges which brings estimated current backlog to approximately $68.7 million, compared to $47.1 million at December 31, 2011, $112.3 million at March 31, 2011, and $89.5 million at December 31, 2010.