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Conrad Industries Announces Third Quarter Results

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By MarEx 2018-11-16 19:20:53

Conrad Industries, Inc. (OTC Pink: CNRD) announced today its third quarter and nine months 2018 financial results and backlog at September 30, 2018.

For the quarter ended September 30, 2018, Conrad had net loss of $2.6 million and a loss per diluted share of $0.51 compared to net loss of $193,000 and a loss per diluted share of $0.04 during the third quarter of 2017. The Company had net income of $2.7 million and earnings per diluted share of $0.55 for the nine months ended September 30, 2018 compared to net income of $1.3 million and earnings per diluted share of $.25 for the nine months ended September 30, 2017.

Results for the nine months ended September 30, 2018 included $7.5 million from the Deepwater Horizon Court-Supervised settlement. The Company’s financial reports are available at www.otcmarkets.com.

During the first nine months of 2018, Conrad added $145.9 million of backlog to its new construction segment compared to $47.9 million added to backlog during the first nine months of 2017. Conrad’s backlog was $149.2 million at September 30, 2018, $111.3 million at December 31, 2017 and $140.9 million at September 30, 2017.

The products and services herein described in this press release are not endorsed by The Maritime Executive.