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BAKER HUGHES ANNOUNCES 1ST QUARTER EARNINGS

 HOUSTON, Jan. 27 /PRNewswire/ -- Baker Hughes Incorporated (NYSE, PSE, Zurich: BHI) Chairman, President and Chief Executive Officer, J.D. Woods today announced results for the first fiscal quarter ended Dec. 31, 1992, included revenues of $684.1 million compared to $602.5 million the previous year. Earnings before a pretax charge of $17.5 million for the settlement of a civil antitrust lawsuit concerning the marketing of tricone rockbits were $21.7 million or $.13 per share. The company has reached an agreement to settle the
antitrust suit with the class plaintiffs. The settlement is subject to the customary judicial approvals associated with class settlements. Reported earnings per share, which include the charge, declined to $.01 as compared to $.18 in the same quarter last year.
 "Strong oilfield activity in the U.S. and other key geographic areas benefited our operating results more than we anticipated. Additionally, our EnviroTech businesses were positively impacted by the improving economy." Woods stated. "The timing of the legal settlement was unfortunate because it dampens
what in reality was a good operating quarter. However, resolving our exposure to this litigation was in the company's best interest." Woods concluded.
 Also, the Baker Hughes Board declared the regular quarterly cash dividend of $.115 per share of common stock payable Feb. 26, 1993 to holders of record Feb. 8, 1993.
 A table of comparative results follows:
 BAKER HUGHES INCORPORATED
 (In thousands of dollars except per share amounts)
 Period ended Three Months
 Dec. 31 1992
 Revenues $ 684,073
 Income before income tax 13,964
 Income tax 9,754
 Net income 4,210
 Net income per share of common stock $.01 (A)
 Average shares outstanding during period 138,655,000
 Three Months
 1991
 Revenues $ 602,515
 Income before income tax 32,537
 Income tax 7,972
 Net income 24,565
 Net income per share of common stock $.18
 Average shares outstanding during period 138,455,000
 (A) The net income per share amount for the quarter ended Dec. 31, 1992, has been adjusted for dividends on preferred stock of $3.0 million.
 Baker Hughes is a leading provider of products and services for the oil, gas and process industries.
 NOT INTENDED FOR DISTRIBUTION TO BENEFICIAL HOLDERS
 -0- 01/27/93
 /CONTACT: Ronald G. Turner of Baker Hughes, 713-439-8666/
 (BHI)


CO: Baker Hughes Incorporated ST: Texas IN: OIL SU: ERN

AH -- NY053 -- 9583 01/27/93 11:16 EST
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Date:Jan 27, 1993
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