Conrad: $32M in contracts since Sept. 30

Conrad Industries Inc. (OTC Pink: CNRD) announced its third quarter and nine months 2019 financial results and backlog at Sept. 30.
For the quarter ended Sept. 30, Conrad had net income of $983,000 and earnings per diluted share of $0.20 compared to net loss of $2.6 million and a loss per diluted share of 51 cents during the third quarter of 2018.
The company had net loss of $1.5 million and loss per diluted share of 30 cents for the nine months ended Sept 30 compared to net income of $2.7 million and earnings per diluted share of 55 cents for the nine months ended Sept. 30, 2018.
Results for the nine months in 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 2019, Conrad added $96.0 million of backlog to its new construction segment compared to $145.9 million added to backlog during the first nine months of 2018.
Conrad’s backlog was $89.2 million at Sept. 30, 2019, $127.7 million at Dec. 31, 2018, and $149.2 million at Sept. 30, 2018. The company has signed $32.0 million of new contracts since Sept. 30, 2019.
Conrad Industries Inc., established in 1948 and headquartered in Morgan City, designs, builds and overhauls tugboats, ferries, liftboats, barges, offshore supply vessels, and other steel and aluminum products for both the commercial and government markets. The company provides both repair and new construction services at its five shipyards located in southern Louisiana and Texas.