- Associated Press - Wednesday, August 19, 2015

MORGAN CITY, La. (AP) - The oil industry’s woes continued to drag down earnings for Morgan City-based ship and barge builder Conrad Industries Inc.

Conrad’s second-quarter profit dropped to $1.2 million, or 21 cents per share, compared to $6.8 million, or $1.14 per share, a year ago.

Meanwhile, the company’s backlog of work slid to $131.7 million at June 30, compared to $173 million a year earlier.

President and Chief Executive Officer Johnny Conrad tells The Advocate (https://bit.ly/1K5x4Po) while he remains optimistic about the business in the long term, near-term challenges lie ahead.

Conrad designs, builds and repairs tugboats, ferries, barges and offshore supply vessels at five shipyards in south Louisiana and Texas.

___

Information from: The Advocate, https://theadvocate.com

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide