RTTNews | Jul 29, 2021 11:00AM EDT

11:00 Thursday, July 29, 2021 (RTTNews.com) - Texas-based industrial company, Orion Group Holdings, Inc (ORN) is down 11% as the company, while reporting improved second-quarter results, missed the Street

The net income for the company was $3.53 million or $0.11 per share, compared to $2.02 million or $0.07 per share in the last quarter.

On an adjusted basis, earnings were $1.68 million or $0.05 per share, from $1.32 million or $0.04 share in the last quarter.

Four analysts polled by Thomson Reuters predicted earnings of $0.08 for the quarter.

The revenue of the company dropped 20% to $145.87 million from $183.71 million last year on a drop of contracts. Four analysts expected revenue to be $168.95 million.

The shares are currently changing hands at $5.36 , down $0.62 or 10.37% from $5.98 at the close on Wednesday. The shares opened at $5.92 in the morning. During the 52-weeks period, the shares have ranged between $2.46 and $6.67.

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