Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Conrad Industries, Inc.    CNRD

SummaryQuotesChartsNewsCompany 
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

Conrad Industries : LNG Bunker Barge Construction Leaves Shipyard with $12.5 Million Loss

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/15/2016 | 09:12am CET

Conrad Industries, Inc. (Conrad Industries), in its financial report for the 2016 third quarter (Q3) and nine month period to the end of September 30, 2016, said that it has sustained a $12.5 million gross loss on the construction of a liquefied natural gas (LNG) bunker barge.

"Although we have incurred losses on the LNG barge, we believe we have developed resources to position our Company as a leader in LNG marine-related construction in North America," said Johnny Conrad, President and CEO of Conrad Industries.

The company says that its repair and conversion segment achieved a gross profit of $2.8 million during the nine month period, which compares to a gross loss of $108,000 during the same period of the previous year, reflecting a "continued solid performance" within the context of a highly competitive environment.

"Our results reflect a continued difficult operating environment. Our bid activity has been good and we see some opportunities, but we have also seen many new construction customers continue to delay projects and the environment remains very competitive," said Conrad.

"We are cautiously optimistic in the vessel construction segment due to our record backlog at September 30, 2016."

As Ship & Bunker has previously reported, a 2,200 m3 LNG bunker barge is currently under construction at Conrad Industries` shipyard in Orange, Texas.

In June, Conrad Industries said that it believes that the further development of LNG bunker market is "of critical importance," and sees the fuel`s use as "the next logical progression" for the company`s history.

(c) 2016 Cihan News Agency. All right reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CONRAD INDUSTRIES, INC.
11/15 CONRAD INDUSTRIES : LNG Bunker Barge Construction Leaves Shipyard with $12.5 Mil..
2013 CONRAD INDUSTRIES, INC. : Conrad Announces Third Quarter 2013 Results and Specia..
2008 CONRAD INDUSTRIES : Announces Third Quarter 2008 Results
2008 CONRAD INDUSTRIES : Announces Second Quarter 2008 Results and Celebrates 60th Ye..
2008 CONRAD INDUSTRIES : Conrad Industries Announces 2007 Results and Share Repurchas..
More news
Sector news : Shipbuilding - NEC
11/28DJKEPPEL : Infrastructure Secures US$13.7 Million Contract in Shenzhen, China
11/25DJSTX Offshore Sale Halted
10/31DJSouth Korea Throws its Shipbuilders a $9.6 Billion Lifeline
10/06DJToday's Top Supply Chain and Logistics News From WSJ
10/05DJCosco, China Shipping to Merge Shipbuilding Arms
More sector news : Shipbuilding - NEC
News from SeekingAlpha
11/14 Conrad declares $0.10 dividend
11/14 Conrad reports Q3 results
11/08 NICK'S MICRO-CAP FUND : Outperformance In The Fund's First Quarter
09/23 Updates On Nick's Micro-Cap Fund And The Rising Sun Portfolio
09/21 Dividend Growth Investors Have Woken Up To The Real Smell Of 'G'
Advertisement
Chart CONRAD INDUSTRIES, INC.
Duration : Period :
Conrad Industries, Inc. Technical Analysis Chart | CNRD | US2083051027 | 4-Traders
Full-screen chart
Managers
NameTitle
John P. Conrad Chairman, President & Chief Executive Officer
Scott J. Theriot Chief Operating Officer & Executive Vice President
Cecil A. Hernandez CFO, Secretary & Class I Director
Rene J. Leonard Vice President-Business Development & Engineering
Ogden U. Thomas Independent Class II Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CONRAD INDUSTRIES, INC..-0.45%0
HYUNDAI HEAVY INDUSTRI..--.--%9 998
KEPPEL CORPORATION LIM..-10.06%7 539
CHINA CSSC HOLDINGS LT..-27.13%5 376
BRUNSWICK CORPORATION4.71%4 744
CSSC OFFSHORE & MARINE..-27.66%4 391
More Results