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ADAMS RESOURCES ANNOUNCES THIRD QUARTER RESULTS

 HOUSTON, Nov. 5 /PRNewswire/ -- Adams Resources & Energy, Inc. (AMEX: AE) announced unaudited net earnings for the third quarter of 1993 of $333,000 or $.08 per common share on revenues of $182,039,000. This compares to unaudited third quarter 1992 net earnings of $434,000. Earnings for the first nine months of 1993 were $1,070,000 or $.26 per common share and cash flow from operations for the first nine months of 1993 was $2,764,000.
 K. S. "Bud" Adams Jr., president, indicated the company has generally experienced reduced margins across all of its lines of business in 1993 relative to the first nine months of 1992. However, beginning in September of this year, the company has noticed a marked improvement in its marketing, transportation and oil and gas operations. Adams added the company currently anticipates noticeably improved results for the fourth quarter of 1993.
 Adams Resources & Energy, Inc. is engaged in the business of oil and gas exploration and production, crude oil marketing, petroleum products marketing and tank truck transportation of petroleum products and liquid chemicals.
 ADAMS RESOURCES & ENERGY, INC.
 Unaudited Consolidated Statement Of Operations
 (In thousands, except per share data)
 Period ended Nine Months Three Months
 Sept. 30, 1993 1992 1993 1992
 Revenues $551,510 $381,232 $182,039 $194,989
 Operating costs
 and expenses 549,877 379,177 181,524 194,265
 Income tax
 provision 563 801 182 290
 Earnings before
 cumulative effect
 of account change 1,070 1,254 333 434
 Cumulative effect
 of accounting change --- 3,391 --- ---
 Net earnings $ 1,070 $ 4,645 $ 333 $ 434
 Earnings per common
 share:
 Before cumulative
 effect of acctg.
 change $ .26 $ .30 $ .08 $ .10
 Cumulative effect
 of accounting
 change --- .82 --- ---
 Net earnings $ .26 $ 1.12 $ .08 $ .10
 -0- 11/5/93
 /CONTACT: Donna Oglesby of Adams Resources & Energy, 713-797-9966/
 (AE)


CO: Adams Resources & Energy, Inc. ST: Texas IN: OIL SU: ERN

MP -- NY031 -- 1189 11/05/93 11:20 EST
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Publication:PR Newswire
Date:Nov 5, 1993
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