Monday, February 25, 2013

Commercial Barge Line Company Announces Results for Quarter and Year Ended December 31, 2012 ($CNRD)

Press release:

  • "We continue to see opportunities in the energy sector, as North American oil production continues to rise. Tank barge capacity in the industry continues to be in tight supply, so we are confident that we will be able to quickly realize the earnings benefit of the new tank barges that will be completed by Jeffboat during the first half of 2013.
  • The manufacturing segment's external revenue backlog at the end of 2012 was $52.4 million, representing 2013 production backlog compared to a backlog of $101.2 million as of December 31, 2011. More recently, the external revenue backlog has increased to approximately $140 million as the remainder of 2013 production capacity, beyond the completion of the oversize tank barges currently in production for the transportation segment, has been committed for sale to third parties.

2 comments:

Jack said...

Not sure if you are still involved, but here are a couple updates on the industry:

http://www.workboat.com/newsdetail.aspx?id=20438

http://www.workboat.com/Blogs/WorkBoat-Watch/Tank-barge-building-boom/

(It's the least I can do for getting me started on this one :))

CP said...

Thanks. I'm working on a new valuation post. Looks like the market has figured it out, though.