Conrad Announces Second Quarter 2009 Results and New Business

MORGAN CITY, La., Aug. 13 /PRNewswire-FirstCall/ -- Conrad Industries, Inc. (Pink Sheets: CNRD) announced today its second quarter and six months 2009 results and the signing of new contracts.

For the quarter ended June 30, 2009, Conrad achieved net income of $1.6 million and earnings per diluted share of $0.26 compared to net income of $6.9 million and earnings per diluted share of $0.96 during the second quarter of 2008. The Company had net income of $7.3 million and earnings per diluted share of $1.13 for the six months ended June 30, 2009 compared to net income of $11.5 million and earnings per diluted share of $1.58 for the six months ended June 30, 2008. The diluted shares for the quarter and six months ended June 30, 2009 and June 30, 2008 are 6.5 million and 7.3 million, respectively. The Company's financial reports are available at www.pinksheets.com.

Conrad's backlog was $40.4 million at June 30, 2009, $34.1 million at March 31, 2009, $56.3 million at December 31, 2008 and $93.9 million at June, 2008.

New contracts include one 60'x38'x6' anchor barge, a 250'x72'x12' crane barge, an 88'x35'x10'6" inland towboat and 80'x31'x7'6" steel pontoon bridge.

New business added also includes a contract for the construction of two 297'x54'x12' tank barges with approximately 30,000 gross barrel capacity and are designed for inland waterway operation.

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 four shipyards located in southern Louisiana and Texas.

    For Information Contact:
    Cecil Hernandez (985) 702-0195
    CAHernandez@ConradIndustries.com

SOURCE Conrad Industries, Inc.

RELATED LINKS
http://www.conradindustries.com