Orion Group Announces 2017 Results

Orion Group Holdings today reported net income of $9.5 million ($0.34 diluted earnings per share) for the three months ended December 31, 2017. 

These results compare to net loss of $6.3 million, ($0.23 diluted loss per share) for the same period a year ago. Excluding net benefits of $4.3 million related to the implementation of the Tax Cuts and Jobs Act of 2017 and other tax reserves, adjusted net income for the fourth quarter 2017 was $5.2 million ($0.19 diluted earnings per share).

For the full year 2017, the company reported net income of $0.4 million ($0.01 diluted earnings per share), which compares to the prior full year 2016 net loss of $3.6 million ($0.13 diluted loss per share).

Excluding the fourth quarter tax-related benefit, adjusted net loss for the full year 2017 was $3.9 million ($0.14 diluted loss per share).

“During the fourth quarter, we bid on approximately $606 million and were successful on approximately $140 million,” said Chris DeAlmeida, Orion Group Holding’s Executive Vice President and Chief Financial Officer. 

“This resulted in a 0.86 times book-to-bill ratio and a win rate of 23.1%. In the Marine segment, we bid on approximately $179 million during the fourth quarter 2017 and were successful on $66 million, which translated into a 0.75 times book-to-bill ratio and a win rate of 36.8%.”

Orion Group Holdings provides services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin through its heavy civil marine construction segment and its commercial concrete segment.

The company’s heavy civil marine construction segment services include marine transportation, facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services.

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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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