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PARKER POSTS LOSS FOR QUARTER

 TULSA, Okla., July 14 /PRNewswire/ -- Parker Drilling Co. (NYSE: PKD) today reported revenue of $25,033,000 and a net loss of $2,113,000, or 4 cents per share for its third quarter of fiscal 1993, which ended May 31.
 This compares to the company's total revenue of $32,256,000 and net income of $1,787,000 or 3 cents per share for the same quarter a year ago.
 "While the quarter reflects lower revenues due to decreased utilization in international markets, we are redeploying certain rigs and equipment to new, active areas," explained Robert L. Parker Jr., president and chief executive officer. "As we approach our fiscal year end, we are optimistic about the future for Parker in these new markets," he added.
 Parker is a worldwide oil and gas drilling contractor, with operations in nine countries.
 A summary of third quarter and nine months fiscal 1993 results compared to the same periods in fiscal 1992 is shown below.
 PARKER DRILLING CO. FINANCIAL HIGHLIGHTS
 (In thousands except per share data)
 Quarter Ended May 31 Nine Months Ended May 31
 Fiscal 1993 Fiscal 1992 Fiscal 1993 Fiscal 1992
 Revenue $ 25,033 $ 32,256 $ 74,266 $ 90,789
 Net Income
 (Loss) $ (2,113) $ 1,787 $ (9,611) $ 5,841
 Income (Loss)
 Per Share $ (.04) $ .03 $ (.18) $ .11
 Total Assets $237,660 $264,252 $237,660 $264,252
 Stockholders'
 Equity $207,943 $226,523 $207,943 $226,523
 -0- 7/14/93
 /CONTACT: I.E. Hendrix or Phil Burch of Parker Drilling Co., 918-585-8221/
 (PKD)


CO: Parker Drilling Co. ST: Oklahoma IN: OIL SU: ERN

GT -- SF010 -- 1316 07/14/93 10:47 EDT
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Publication:PR Newswire
Date:Jul 14, 1993
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