Orion Marine Wins Dock Replacement Contract in Alaska

Orion Marine Group (ORN), providing services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin, last week announced a contract award of approximately $13 million.

The company’s marine construction segment was recently awarded a contract for a dock replacement project in Alaska by a private sector customer.

According to ORN, the project will begin in the 2nd quarter of 2016 and last approximately 6 months.

This contract could mean that Orion Marine is on track to improve the performance, compared to the last quarter, with the full year revenues to be in the range of $460 – $480 million.

Based on the current forecast, the company expects full year revenues to grow for at least 20% in 2016, ranging around $625 to $675 million.

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