Business
Conrad Industries Announces 2015 Results and Backlog
Conrad Industries Announces 2015 Results and Backlog.
About this update from Conrad Industries, Inc.
[{"type":"text","content":"\n\n\n\nConrad Industries Announces 2015 Results and Backlog\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nConrad Industries Announces 2015 Results and Backlog\nPR Newswire\nMORGAN CITY, La., March 28, 2016\n\n\n\nMORGAN CITY, La., March 28, 2016 /PRNewswire/ -- Conrad Industries, Inc. (OTC Pink: CNRD) today announced its fourth quarter and twelve months 2015 results and backlog. \n\nFor the quarter ended December 31, 2015, Conrad had net income of $3.4 million and earnings per diluted share of $0.63 compared to net income of $5.2 million and earnings per diluted share of $0.88 during the fourth quarter of 2014. The Company had net income of $10.6 million and earnings per diluted share of $1.86 for the twelve months ended December 31, 2015 compared to net income of $22.8 million and earnings per diluted share of $3.84 for the twelve months ended December 31, 2014. Results for the quarter and year ended December 31, 2015 included research and development tax credits of $3.4 million and $5.9 million, respectively. Results for the quarter and year ended December 31, 2014 included research and development tax credits of $2.1 million. The Company's financial reports are available at www.otcmarkets.com.\n\nConrad's backlog was $211.8 million at December 31, 2015, compared to $180.2 million at December 31, 2014. \n\nJohnny Conrad, President and CEO stated, \"Our results for 2015 reflect the challenging operating environment, which negatively impacted both vessel construction and repair and conversion business segments. Notwithstanding current market conditions, we have been pursuing a disciplined program to invest in improving our shipyards' capacities and efficiencies, including at our newest yard Deepwater South. We believe that this, along with our experienced management team and workforce, and our adherence to our Core Values have enabled us to secure new contracts. In addition to investing in our business, over the last three fiscal years, we have returned $39.0 million in cash to shareholders through dividends and stock repurchases. Our Board will continue to monit...