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Orion Marine Group, Inc Message Board

  • mr_snowblack mr_snowblack Sep 29, 2011 5:55 PM Flag

    Update from the company

    the PR this evening is all but optimistic. Though we all know and though it might be priced in, the CEO sounds pessimistic about the general economic climate. And he still believes necessarily infrastructural investments will be postponed further.

    These are definetely not statements to cheer for:

    "The Company expects the pressure it saw in the second quarter to continue into the third quarter as equipment utilization further decreased due to ongoing gaps in project lettings"

    "We are not through the roughest part of the storm yet, but we are finding the right price points and beginning to build backlog for 2012," said Mike Pearson, Orion Marine Group's President and Chief Executive Officer. "As we have said before, 2011 is a challenging year but we are working hard to control cost, price effectively, and explore complementary areas for growth."

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