ORN Expects Further Growth in 2017

During 2016, Orion Group Holdings, Inc. made significant, long-term improvements in the company’s operations with a continued strong demand for its services, announced today Mark Stauffer, ORN President and Chief Executive Officer.

The company today reported a net loss for the three months ended December 31, 2016, of $6.3 million ($0.23 diluted loss per share). These results compare to net income of $1.4 million ($0.06 diluted earnings per share) for the same period a year ago.

Excluding one-time charges related to the accounting treatment of a specific contract with significant, highly unusual differing site conditions and net operating loss (NOL) valuation allowances, adjusted net income for the fourth quarter 2016 was $2.5 million ($0.09 diluted earnings per share).

For the full year 2016, ORN reported a net loss of $3.6 million ($0.13 diluted loss per share), which compares to the prior full year 2015 net loss of $8.1 million ($0.29 diluted loss per share).

Excluding stated one-time accounting treatment charges and NOL valuation allowances, adjusted net income for the full year 2016 was $5.2 million ($0.19 diluted earnings per share).

2016 Highlights

  • Significant structural changes throughout the company to provide a solid platform for future success;
  • 68% year over year increase in gross profit;
  • 86% year over year increase in EBITDA;
  • Bid on record-high $2.8 billion of projects during 2016, with a win rate of 24%;
  • Completed the integration of ORN Commercial Concrete Construction segment;
  • 58% year over year increase in Dallas market commercial concrete revenues;
  • Prepared to further develop ORN targeted infrastructure, industrial and building sectors.

2016 Full-Year Results

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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