"We are pleased with our results for the quarter including better than expected revenue," said Mike Pearson, Orion Marine Group's President and Chief Executive Officer. "During the quarter we continued to see a good pace of bid activity while continuing our solid project execution."

Financial highlights of the Company's third quarter 2009 include:

 * Third quarter 2009 contract revenues increased to $81.5 million,
   up 29.5% as compared with the third quarter of 2008. Revenue
   growth for the quarter exceeded the Company's third quarter
   revenue growth goal of 16% to 21% as a result of favorable
   conditions including the acceleration of project schedules.

 * Gross profit for the quarter was $16.0 million which represents
   an increase of $3.4 million or 27.0% as compared with the third
   quarter of 2008.  Gross profit margin for the quarter was 19.6%,
   which was essentially flat compared to the prior year period.

 * Selling, General, and Administrative expenses for the third
   quarter 2009 were $7.7 million, a slight increase year-over-year.

 * The Company's third quarter 2009 EBITDA was $13.2 million,
   representing a 16.2% EBITDA margin, which compares to third
   quarter 2008 EBITDA of $10.3 million, or a 16.5% EBITDA margin.
   EBITDA margin for the quarter was within the Company's third
   quarter goal range of 15% to 17%.

 * The Company self-performed approximately 83% of its work as
   measured by cost during the third quarter 2009 as compared with
   87% in the prior year period.  Self performance for the third
   quarter 2009 was lower due to the timing and mix of projects.

Backlog of work under contract as of September 30, 2009 was a record $224.3 million which compares with backlog under contract at September 30, 2008 of $160.5 million. In addition, the recently announced large project award involving dredging services adds approximately $10 million to backlog. The Company reminds investors that backlog can fluctuate from period to period due to the timing and execution of contracts. Given the typical duration of the Company's projects, which range from three to nine months, the Company's backlog at any point in time usually represents only a portion of the revenue it expects to realize during a twelve month period. Backlog consists of projects under contract that have either (a) not been started, or (b) are in progress and not yet complete, and the Company cannot guarantee that the revenue projected in its backlog will be realized, or, if realized will result in earnings.

"Overall we are pleased with the results of the third quarter and are optimistic about the road ahead," said Mark Stauffer, Orion Marine Group's Executive Vice President and Chief Financial Officer. "We will continue to execute our growth plan while working to maintain our industry leading EBITDA margins".

2009 Outlook

The Company remains comfortable with its previously stated full year 2009 year-over-year revenue growth goal of 12% to 16% and its full year 2009 EBITDA margin goal of 14% to 18%. Given the timing shifts of revenue during the second quarter and expected low material pricing which could reduce overall contract values, the Company believes its revenue growth for the full year 2009 will be at the lower end of the stated full year 2009 revenue growth goal range. However, the Company believes the favorable EBITDA margins experienced in the first half of the year will boost its full year EBITDA margin towards the middle to upper end of its full year 2009 EBITDA margin goal range.

2010 Outlook

The Company expects the positive trends in port expansion, U.S. infrastructure updates, coastal and wetland restoration projects, expansion in the cruise industry and projects involving dredging services to continue to provide good bid opportunities long term.

"2010 is shaping up to be another record year for Orion Marine Group with the highest level of booked work we have seen at this point headed into the next year," said Mr. Pearson. "Additionally, we continue to see multiple end markets with good funding and drivers for continued growth for 2010 and beyond."

Looking at 2010 in detail, the Company is tracking $4.0 to $4.5 billion of bid opportunities of which it expects approximately $1.8 billion could liquidate in 2010. As a result of the current backlog and current expected bid opportunities, the Company's initial full year 2010 revenue goal range is between $350 million and $360 million. The Company's initial full year 2010 EBITDA margin goal is 14% - 18%.

Conference Call Details

Orion Marine Group will conduct a telephone briefing to discuss its results for the third quarter 2009 at 10:00 a.m. Eastern Time/9:00 a.m. Central Time on Thursday, November 5, 2009. To listen to a live broadcast of this briefing, visit the Investor Relations section of the Company's website at www.orionmarinegroup.com.