| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Conrad Industries, Inc. |
| 1501 Front Street, P.O. Box 790, Morgan City, LA 70381 * (504) 384-3060 |
| The company specializes in the construction, conversion and repair of a wide variety of marine vessels for commercial and government customers and the fabrication of modular components of offshore drilling rigs and floating production, storage vessels. |
| Manager | Tier | Phone |
| Morgan Keegan & Company, Incorporated | Lead Manager | (901) 529-5357 |
| Raymond James & Associates, Inc. | Co-manager | (813) 573-8108 |
| NASNTL: | CNRD | Manufacturing: | SIC 3731 | |
| Type of Shares: | Common Shares | Filing Date: | 4/9/98 | |
| U.S. Shares: | 2,000,000 | Offer Date: | 6/9/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $13.00 | |
| Primary Shares: | 2,000,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.84 | |
| Offering Amount: | $25,000,000 | Selling: | $0.46 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Post-IPO Shares: | 7,700,000 | |||
| Employees: | 300 |
| Issuer's Law Firm: | Andrews & Kurth |
| Bank's Law Firm: | Jones, Walker,Waechter, Poitevent Carrere & Denegr |
| Registrar/Transfer Agent: | American Stock Transfer & Trust Co |
| Auditor: | Deloitte & Touche |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 12/31/97 | ||||
| Revenue: | $22.12 | Assets: | $48.95 | ||
| Net Income: | $3.09 | Curr Assets: | $15.29 | ||
| EPS: | $0.58 | Liabilities: | $33.67 | ||
| Prior EPS: | Curr Liab: | $7.53 | |||
| Cash Flow/Oper: | $6.11 | Equity: | $15.28 | ||
| Cash Flow/Fin: | $22.10 | Cash: | $7.55 | ||
| Cash Flow/Inv: | -$23.87 | Working Cap: | $7.76 | ||
| Competition |
| U.S. shipbuilders are generally classified in two categories: (i) the six largest shipbuilders which are capable of building large scale vessels for the U.S. Navy and commercial customers and (ii) other shipyards that build small to medium sized vessels for governmental and commercial markets. The Company does not compete for large vessel construction projects. The Company competes for U.S. government contracts to build small to medium sized vessels principally with approximately 10 to 15 U.S. shipbuilders, which may include one or more of the six largest shipbuilders. The Company competes for domestic commercial vessel construction contracts principally with up to approximately 15 U.S. shipbuilders. The number and identity of competitors on particular projects vary greatly depending on the type of vessel and size of the project, but the Company generally competes with only three or four other companies with respect to a particular project. The Company competes with over 70 regional shipyards for its conversion and repair business. |
| Business Plan |
| The Company's objective is to increase its revenues while maintaining attractive profit margins. Key elements of the Company's business strategy are as follows: (I) Pursue Projects with Attractive Profit Margins, (ii) Capitalize on Indoor Construction Capabilities and Modern Construction Techniques, (iii) Utilize Available Capacity at Existing Shipyards, (iv) Take Advantage of New Construction Opportunities, (v) Increase Conversion and Repair Activity, (vi) Capture Efficiencies from Multiple Shipyards and (vii) Pursue Strategic Acquisitions. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness incurred to fund the purchase price of the Orange Acquisition and indebtedness incurred to fund distributions to the company's current shareholders in connection with the termination of Conrad's S Corporation status, working capital and for general corporate purposes. |