Conrad Industries Announces Third Quarter 2010 Results

MORGAN CITY, La., Nov. 11, 2010 /PRNewswire-FirstCall/ -- Conrad Industries, Inc. (Pink Sheets: CNRD) today announced its third quarter and nine months 2010 results.

For the quarter ended September 30, 2010, Conrad had net income of $1.6 million and earnings per diluted share of $0.26 compared to net income of $2.8 million and earnings per diluted share of $0.43 during the third quarter of 2009. The Company had net income of $7.0 million and earnings per diluted share of $1.09 for the nine months ended September 30, 2010 compared to net income of $10.1 million and earnings per diluted share of $1.56 for the nine months ended September 30, 2009. The diluted shares for the quarters and nine months ended September 30, 2010 and September 30, 2009 are 6.5 million. The Company's financial reports are available at www.pinksheets.com.

Conrad's backlog was $86.1 million at September 30, 2010, $41.0 million at June 30, 2010, $38.3 million at December 31, 2009 and $56.1 million at September 30, 2009.

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.

SOURCE Conrad Industries, Inc.