Conrad Industries Announces First Quarter 2021 Results and Backlog

Rhea-AI Summary

Conrad Industries, Inc. (OTC Pink: CNRD) reported its first quarter 2021 results, showing a net income of $705,000 or $0.14 per diluted share, up from $414,000 or $0.08 per diluted share in Q1 2020. The backlog increased to $193.4 million as of March 31, 2021, from $183.7 million at year-end 2020 and $36.6 million a year prior. Founded in 1948 and based in Morgan City, Louisiana, the company specializes in designing, building, and overhauling a variety of marine vessels.

Positive

• Net income increased to $705,000 in Q1 2021 from $414,000 in Q1 2020.
• Earnings per diluted share rose to $0.14, up from $0.08 year-over-year.
• Total backlog grew to $193.4 million as of March 31, 2021, indicating strong future business prospects.

Negative

• None.

MORGAN CITY, La., May 14, 2021 /PRNewswire/ -- Conrad Industries, Inc. (OTC Pink: CNRD) announced today its first quarter 2021 results.

For the quarter ended March 31, 2021, Conrad had net income of $705,000 and income per diluted share of $0.14 compared to a net income of $414,000 and income per diluted share of $0.08 during the first quarter of 2020.  The Company's financial reports are available at www.otcmarkets.com.

Conrad's backlog was $193.4 million at March 31, 2021 compared to $183.7 million at December 31, 2020 and $36.6 million at March 31, 2020.

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 five shipyards located in southern Louisiana and Texas.

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

View original content:http://www.prnewswire.com/news-releases/conrad-industries-announces-first-quarter-2021-results-and-backlog-301291962.html

SOURCE Conrad Industries, Inc.

FAQ

What were Conrad Industries' Q1 2021 earnings?

Conrad Industries reported a net income of $705,000, or $0.14 per diluted share, for Q1 2021.

How did Conrad Industries' backlog change in Q1 2021?

The backlog increased to $193.4 million in Q1 2021, compared to $183.7 million at the end of Q4 2020.

How does Conrad Industries' Q1 2021 performance compare to Q1 2020?

In Q1 2021, Conrad's net income was $705,000, compared to $414,000 in Q1 2020.

What is the stock symbol for Conrad Industries?

Conrad Industries trades under the stock symbol CNRD.