Orion Marine Group (ORN), providing services both on and off the water in the continental United States, Alaska, Canada and the Caribbean Basin, last week announced a contract award of approximately $13 million.
The company’s marine construction segment was recently awarded a contract for a dock replacement project in Alaska by a private sector customer.
According to ORN, the project will begin in the 2nd quarter of 2016 and last approximately 6 months.
This contract could mean that Orion Marine is on track to improve the performance, compared to the last quarter, with the full year revenues to be in the range of $460 – $480 million.
Based on the current forecast, the company expects full year revenues to grow for at least 20% in 2016, ranging around $625 to $675 million.