Orion Marine Group (ORN) Misses Q3 EPS by 34c

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Go back to Orion Marine Group (ORN) Misses Q3 EPS by 34c

Orion Marine Group, Inc. Reports Third Quarter 2015 Results and Provides Guidance for 2016

November 5, 2015 5:00 AM EST

HOUSTON, Nov. 05, 2015 (GLOBE NEWSWIRE) -- Orion Marine Group, Inc. (NYSE: ORN) (the Company), a leading construction company, today reported net loss for the three months ended September 30, 2015, of $7.4 million ($0.27 diluted loss per share).  These results compare to net income of $3.0 million ($0.11 diluted earnings per share) for the same period a year ago.

As previously discussed, significant cost increases on five projects managed out of our Tampa, Florida office, as well as one-time, non-cash charges related to the assets held for sale, along with a valuation allowance on our deferred tax asset in Florida... More