Imperial Capital Cuts Price Target on Orion Marine Group (ORN) Following 3Q
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Orion Marine Group, Inc. Reports Third Quarter 2015 Results and Provides Guidance for 2016
November 5, 2015 5:00 AM ESTHOUSTON, 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
