(RTTNews) -  Thursday, Orion Marine Group Inc. (ORN: News ) reported second-quarter net income of $6.3 million or $0.28 per share, higher than $2.4 million or $0.11 per share in the year-ago period. On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share for the quarter.

Contract revenues for the quarter increased to $70.8 million from $67.1 million in the comparable period. Analysts estimated revenues of $73.8 million for the quarter.

The company expects third-quarter revenues to rise 16% - 21% from last year and still sees full-year revenue growth of 12% - 16%.
The company also announced a contract award of around $16 million. Orion Marine Group's wholly owned subsidiary, Misener Marine Construction, Inc., was recently awarded a contract for a portion of the construction of a 4,211 foot long bridge over the Intracoastal Waterway in Beaufort County, South Carolina.

In addition, the company said it received a contract award of about $13 million. Orion Marine Group's wholly owned subsidiary, King Fisher Marine Service, LP was recently awarded a contract from the U.S. Army Corps of Engineers to deepen the Houston-Galveston navigation channel near Galveston, Texas.

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by RTT Staff Writer

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