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HADSON ANNOUNCES SECOND QUARTER RESULTS

 HADSON ANNOUNCES SECOND QUARTER RESULTS
 OKLAHOMA CITY, Aug. 14 /PRNewswire/ -- Hadson Corporation


(NYSE: HAD) announced a net loss of $4,100,000 ($.10 per share) for the second quarter of 1992 on total revenues of $90,770,000. This compares to a net loss of $1,356,000 ($.04 per share) on revenues of $95,095,000 in the second quarter of 1991. The first six months of 1992 resulted in a net loss of $7,899,000 ($.20 per share) based on revenues of $196,335,000 vs. a net loss of $249,000 ($.01 per share) based on revenues of $213,935,000 for the same period in 1991.
 J. Michael Adcock, president of Hadson said, "The loss for the second quarter can be attributed to the ongoing interest expense recognized on the company's long-term debt which Hadson is currently proposing to restructure as well as reduced gas volumes and sales margins in the Energy Products and Services Group. We believe that the Group's operating results were negatively impacted due, in large part, to the Group's credit capacity constraints and Hadson's announcement of its proposed "pre-packaged" Chapter 11 filing. Late in the second quarter, the Group was successful in expanding its credit facility."
 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"). HEPSI is not a party to Hadson Corporation's debt agreements and will not be a party to Hadson's bankruptcy proceedings.
 HADSON CORPORATION
 (In thousands, except per-share data)
 Periods ended Three Months
 June 30 1992 1991
 Revenues $ 90,770 $ 95,095
 Net loss $ (4,100) $ (1,356)
 Net loss per common share
 and common equivalent share $ (.10) $ (.04)
 Shares outstanding 38,777 37,758
 Periods ended Six Months
 June 30 1992 1991
 Revenues $ 196,335 $ 213,935
 Net loss $ (7,899) $ (249)
 Net loss per common share
 and common equivalent share $ (.20) $ (.01)
 Shares outstanding 38,777 37,758
 -0- 8/14/92
 /CONTACT: J. Michael Adcock, president and chief operating officer of Hadson Corporation, 405-235-9531/
 (HAD) CO: Hadson Corporation ST: Oklahoma IN: OIL SU: ERN


AH -- NY090 -- 0276 08/14/92 18:36 EDT
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Publication:PR Newswire
Date:Aug 14, 1992
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