NOVEMBER 15, 2013 — Morgan City, La., headquartered shipbuilder Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) today reported its third quarter and nine months 2013 results and backlog and that its board has declared a special cash dividend of $2.00 per common share.
For the quarter ended September 30, 2013, Conrad had net income of $6.5 million and earnings per diluted share of $1.09 compared to net income of $4.4 million and earnings per diluted share of $0.74 during the third quarter of 2012. The company had net income of $18.5 million and earnings per diluted share of $3.10 for the nine months ended September 30, 2013 compared to net income of $12.9 million and earnings per diluted share of $2.13 for the nine months ended September 30, 2012. T
During the first nine months of 2013, Conrad added $185.6 million of backlog to its new construction segment compared to $183.5 million added to backlog during the first nine months of 2012. Backlog at September 30, 2013 was $152.3 million compared to $104.4 million at September 30, 2012, $120.7 million at December 31, 2012, and $181.8 million at June 30, 2013. The company has signed $36.0 million of new contracts since September 30, 2013.
The special cash dividend is payable on December 17, 2013 to shareholders of record on December 3, 2013.