Conrad Industries, Inc. (OTC Pink Sheets: CNRD.PK) announced its fourth quarter and twelve months 2012 results and the addition of new business during the first quarter of 2013 totaling $51.4 million.
For the quarter ended December 31, 2012, Conrad had net income of $8.0 million and earnings per diluted share of $1.33 compared to net income of $6.8 million and earnings per diluted share of $1.09 during the fourth quarter of 2011.
New business added during the first quarter of 2013 includes the signing of new contracts and sales of stock barges which brings estimated current backlog to approximately $122.5 million, compared to $120.7 million at December 31, 2012, $70.8 million at March 31, 2012, and $47.1 million at December 31, 2011.
New contracts added during the first quarter of 2013 include two 297’6”x 54’x 12’ 30,000 bbl. tank barges, two 245’x 48’x 12’LPG tank barges, a 300’x 100x 20’ ocean deck barge, and a 160’x 72’x 10’ deck barge.
During the first quarter of 2013, we also sold three 297’6”x 54’x 12’ 30,000 bbl. tank barges, and four tow boats which were stock vessels in progress at December 31, 2012.