Conrad Industries Inc. announced earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company had net income of $2.8 million and earnings per diluted share of $0.43 compared to net income of $4.5 million and earnings per diluted share of $0.64 during the third quarter of 2008. For the nine months, the company had net income of $10.1 million and earnings per diluted share of $1.56 compared to net income of $15.9 million and earnings per diluted share of $2.22 for the nine months ended September 30, 2008.

Conrad Industries Inc. has been awarded a contract for the construction of a passenger/vehicle ferry with a value of $13.0 million, which brings the current backlog to approximately $56.8 million compared to $40.6 million at June 30, 2009, $56.3 million at December 31, 2008 and $74.8 million at September 30, 2008. The North Carolina Department of Transportation awarded the contract to Conrad for the construction of a 220-foot passenger and vehicle ferry for service between the Cedar Island, NC and the Ocracoke Island, NC terminals. The vessel is capable of transporting 300 passengers and 50 vehicles, and will be built at its shipyard in Orange, TX. Production of the new vessel is scheduled to begin in December 2009 with delivery during the second quarter of 2011.

Conrad Industries Inc. announced that it has been awarded a contract for the construction of a shallow draft dredge with a value of $13.1 million. The United States Army Corps of Engineers awarded the contract to Conrad for the design and construction of a 156-foot self-propelled, shallow draft, split hull hopper dredge for the Wilmington District. The dredge will operate year round in coastal inlets from Florida to Maine. The vessel will be built at shipyard in Morgan City, LA.