Business briefs: Conrad earnings slip; Iberia port businesses set to expand

Low oil prices cut
into Conrad’s profit
The oil industry’s woes continued to drag down earnings for Morgan City-based ship and barge builder Conrad Industries Inc.
Conrad’s second-quarter profit dropped to $1.2 million, or 21 cents per share, compared to $6.8 million, or $1.14 per share, a year ago.
Meanwhile, the company’s backlog of work slid to $131.7 million at June 30, compared to $173 million a year earlier.
President and CEO Johnny Conrad said that while he remains optimistic about the business in the long term, near-term challenges lie ahead.

3 Iberia port firms
announce expansion
NEW IBERIA — Three oil and gas service companies located at the Port of Iberia say they plan to expand operations and add employees
Eddie Clay, manager for Chart Energy and Chemicals Inc.’s Port of Iberia’s plant, told the port’s Board of Commissioners Tuesday that Chart, an international corporation, is planning almost $40 million in upgrades to its existing port property. Also planning expansions are Logan Industries International Corp. and Ram Design LLC.
––The Associated Press