With earnings up, Conrad pays special dividend

Conrad's Morgan City, LA, shipyard. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas. Conrad's Morgan City, LA, shipyard. The company provides both repair and new construction services at its four shipyards located in southern Louisiana and Texas.

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.

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