MORGAN CITY — Conrad Industries Inc. reported fourth-quarter and annual earnings for 2013 and the addition of new business during the first quarter of 2014 totaling $67.3 million.
Conrad had fourth-quarter net income of $10.1 million, or $1.70 per share, compared to net income of $8.0 million, or $1.33 per share a year earlier. The company had annual 2013 net income of $28.6 million, or $4.80 per share, compared to net income of $20.8 million, or $3.46 per share for 2012.
New business added during the first quarter includes the signing of new contracts and sales of stock barges, which brings its estimated current backlog of work to about $155 million
Conrad Industries 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 in southern Louisiana and Texas.