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Orion Marine: 4Q Earnings Snapshot

February 24, 2021 GMT

HOUSTON (AP) _ Orion Marine Group Inc. (ORN) on Wednesday reported fourth-quarter profit of $3.7 million.

On a per-share basis, the Houston-based company said it had net income of 12 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The heavy civil marine contractor posted revenue of $170.2 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $178.8 million.

For the year, the company reported net income of $20.2 million, or 67 cents per share, swinging to a profit in the period. Revenue was reported as $709.9 million.

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Orion Marine shares have climbed 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $5.95, an increase of 41% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORN at https://www.zacks.com/ap/ORN