Conrad Industries Announces Third Quarter 2009 Results

MORGAN CITY, La., Nov. 13 /PRNewswire-FirstCall/ -- Conrad Industries, Inc. (Pink Sheets: CNRD) today announced its third quarter and nine months 2009 results.

For the quarter ended September 30, 2009, Conrad had net income of $2.8 million and earnings per diluted share of $0.43 compared to net income of $4.5 million and earnings per diluted share of $0.64 during the third quarter of 2008. The Company had net income of $10.1 million and earnings per diluted share of $1.56 for the nine months ended September 30, 2009 compared to net income of $15.9 million and earnings per diluted share of $2.22 for the nine months ended September 30, 2008. The diluted shares for the nine months ended September 30, 2009 and September 30, 2008 are 6.5 million and 7.2 million, respectively. The Company's financial reports are available at www.pinksheets.com.

Conrad's backlog was $56.1 million at September 30, 2009, $40.4 million at June 30, 2009, $56.3 million at December 31, 2008 and $74.8 million at September 30, 2008.

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