Conrad ups net and boosts backlog

Harley tug SILVERAUGUST 14, 2012 — Morgan City, La., headquartered shipbuilder Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) today reported its second quarter and six months 2013 financial results and backlog at June 30, 2013.

Recent Conrad deliveries include this Harley Marine 75 ft x 29 ft, 2,000 hp tug

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, which performs both repair and new construction at its four shipyards in southern Louisiana and Texas, 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.

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