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HADSON ANNOUNCES RESULTS OF RESTRUCTURING

 OKLAHOMA CITY, March 26 /PRNewswire/ -- Hadson Corporation (NYSE: HAD) today announced a net loss of $23,169,000 ($.55 per share) for the year ended Dec. 31, 1992, on total revenues of $430,900,000. This compares to a net loss of $4,320,000 ($.11 per share) on revenues of $441,565,000 for the year ended Dec. 31, 1991. The fourth quarter of 1992 resulted in a net loss of $12,243,000 ($.23 per share) based on revenues of $126,543,000 vs. a net loss of $2,434,000 ($.06 per share) based on revenues of $128,179,000 for the same period in 1991.
 J. Michael Adcock, president of Hadson said, "Results for 1992 include the effect of our restructuring, which was completed Dec. 16, 1992, including the settlement of various claims which were filed during the bankruptcy proceedings. In addition, 1992 includes almost a full year of interest expense on our long-term debt, which was restructured as of Dec. 16. We are excited and optimistic about the opportunities now available to us in the natural gas and natural gas liquids businesses as Hadson enters 1993 with the financial restructuring complete."
 Hadson Corporation is an independent producer and supplier of energy products and services. Hadson has continuing operations in natural gas and gas liquids through its subsidiary, Hadson Energy Products and Services, Inc. (HEPSI).
 HADSON CORPORATION
 (In thousands, except per-share data)
 Three Months Ended Dec. 31 1992 1991
 Revenues $126,543 128,179
 Loss from continuing operations (5,900) (7,263)
 Net loss $(12,243) (2,434)
 Net loss per common share and
 common equivalent share $ (.23) (.06)
 Average shares outstanding 53,446 37,758
 Twelve months ended Dec. 31 1992 1991
 Revenues $430,900 441,565
 Loss from continuing operations (15,066) (9,149)
 Net loss $(23,169) (4,320)
 Net loss per common share and
 common equivalent share $ (.55) (.11)
 Average shares outstanding 42,392 37,758
 -0- 3/26/93 R
 /CONTACT: J. Michael Adcock, president and chief operating officer of Hadson Corporation, 405-235-9531/
 (HAD)


CO: Hadson Corporation ST: Oklahoma IN: OIL SU: RCN

TS -- NY011R -- 0064 03/26/93 12:39 EST
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Date:Mar 26, 1993
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