MAY 15, 2013 — Morgan City, Louisiana, headquartered shipbuilder Conrad Industries, Inc. (OTC Pink: CNRD.PK) has reported 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.
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, lift boats, 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.