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$CNRD Conrad Industries Announces Second Quarter 2020

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$CNRD Conrad Industries Announces Second Quarter 2020 Results and Backlog
Press Release | 08/17/2020
Conrad Industries Announces Second Quarter 2020 Results and Backlog
PR Newswire

MORGAN CITY, La., Aug. 14, 2020

MORGAN CITY, La., Aug. 14, 2020 /PRNewswire/ -- Conrad Industries, Inc. (OTC Pink: CNRD) announced today its second quarter and six months 2020 financial results and backlog at June 30, 2020.

For the quarter ended June 30, 2020, Conrad had net income of $482,000 and earnings per diluted share of $0.10 compared to net loss of $2.2 million and loss per diluted share of $0.44 during the second quarter of 2019. The Company had net income of $896,000 and earnings per diluted share of $0.18 for the six months ended June 30, 2020 compared to net loss of $2.5 million and loss per diluted share of $.50 for the six months ended June 30, 2019. The Company's financial reports are available at www.otcmarkets.com.

During the first six months of 2020, Conrad added $119.7 million of backlog to its new construction segment compared to $73.5 million added to backlog during the first six months of 2019. Conrad's backlog was $133.0 million at June 30, 2020, $79.2 million at December 31, 2019 and $116.8 million at June 30, 2019. Conrad signed the biggest contract in its history in the second quarter of 2020. Since the end of the second quarter the Company has signed an additional $14.1 million in contracts.

Conrad Industries, Inc., established in 1948 and headquartered in Morgan City, Louisiana, 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.

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