Conrad Industries Inc. Reports Higher Earnings, Backlog

Conrad Industries Inc., Morgan City, La., reported second-quarter net income of $4.7 million or $.94 per diluted share, compared to net income of $1.4 million or $.27 per share for the second quarter of 2017.

For the first six months of the year, net income was $5.3 million, up from $1.5 million a year ago, the company said in the August 15 announcement.

Results for the second quarter and first half included $7.5 million from the Deepwater Horizon court-supervised settlement, the company said.

During the first six months of 2018, Conrad added $39.8 million of backlog to its new-construction segment, compared to $13.3 million added to backlog during the first six months of 2017.

Conrad’s backlog was $74.5 million as of June 30, down from $152 million a year ago. The company has signed $60.8 million of new contracts since June 30.

Conrad Industries Inc. operates five shipyards in southern Louisiana and Texas.