- 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.

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


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