HOUSTON (AP) _ Orion Marine Group Inc. (ORN) on Wednesday reported fourth-quarter net income of $159,000, after reporting a loss in the same period a year earlier.
The Houston-based company said it had net income of 1 cent per share. Earnings, adjusted for non-recurring costs, came to 5 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The heavy civil marine contractor posted revenue of $199.8 million in the period.
For the year, the company reported that its loss narrowed to $5.4 million, or 18 cents per share. Revenue was reported as $708.4 million.
In the final minutes of trading on Wednesday, the company's shares hit $4.04. A year ago, they were trading at $4.59.