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ENTERRA ANNOUNCES 1992 RESULTS

 HOUSTON, Feb. 24 /PRNewswire/ -- Enterra Corporation (NYSE: EN) today announced net income of $14,748,000 or $.92 per share, for the year ended Dec. 31, 1992, compared with net income of $22,217,000 or $1.40 per share, in 1991. Revenues in 1992 were $150,206,000 vs. $171,143,000.
 Fourth quarter revenues were $35,506,000 in 1992 compared to $38,737,000 in 1991. Net income for the 1992 fourth quarter was $2,503,000 or $.16 per share compared to $4,086,000 in 1991 or $.26 per share.
 D. Dale Wood, chairman, president and CEO noted that the annual and quarterly decreases were expected in light of the 1992 worldwide decline in oilfield service activity coupled with a reduced level of new pipeline construction in North America and relatively few large international projects. Wood added that, "In spite of weaker market conditions, Enterra generated operating cash flow equal to 22 percent of revenues or approximately $34 million. Both the company's oilfield service and pipeline equipment segments accomplished this through effective cost controls. Such efforts are expected to result in strong operating leverage as industry conditions improve."
 Enterra Corporation is a worldwide provider of specialized services and products for drilling and servicing onshore and offshore oil and gas wells and of specialized equipment used in the construction and rehabilitation of pipelines.
 ENTERRA CORPORATION
 Comparative Data
 (In thousands, except per-share data)
 Periods ended Quarter Year
 Dec. 31 1992 1991 1992 1991
 Revenues $35,506 $38,737 $150,206 $171,143
 Net income 2,503 4,086 14,748 22,217
 Weighted average
 shares
 outstanding 16,123 16,020 16,094 15,916
 Net income per
 share $.16 $.26 $.92 $1.40
 -0- 2/24/93
 /CONTACT: Steve Grant of Enterra Corporation, 713-462-7300/
 (EN)


CO: Enterra Corporation ST: Texas IN: OIL SU: ERN

CK -- NY033 -- 9899 02/24/93 12:06 EST
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Publication:PR Newswire
Date:Feb 24, 1993
Words:316
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