Conrad reports third quarter results

Conrad's Morgan City shipyard Conrad's Morgan City shipyard

NOVEMBER 14, 2014 — Morgan City, LA, based shipbuilder Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) yesterday reported its third quarter and nine months 2014 results and backlog.

For the quarter ended September 30, 2014, Conrad had net income of $4.5 million and earnings per diluted share of $0.74 compared to net income of $6.5 million and earnings per diluted share of $1.09 during the third quarter of 2013. The company had net income of $17.7 million and earnings per diluted share of $2.96 for the nine months ended September 30, 2014 compared to net income of $18.5 million and earnings per diluted share of $3.10 for the nine months ended September 30, 2013.

During the first nine months of 2014, Conrad added $175.5 million of backlog to its new construction segment compared to $185.6 million added to backlog during the first nine months of 2013. Backlog at September 30, 2014 was $135.0 million compared to $152.3 million at September 30, 2013, $152.9 million at December 31, 2013, and $173.0 million at June 30, 2014.

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