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HADSON ANNOUNCES SECOND QUARTER RESULTS

 OKLAHOMA CITY, Okla., Aug. 16 /PRNewswire/ -- Hadson Corporation (NYSE: HAD) announced net earnings of $861,000 ($.01 per share) on revenues of $121,407,000 for the second quarter of 1993 and a net loss of $932,000 ($.01 per share) on revenues of $253,792,000 for the six months ending June 30, 1993. These results include an extraordinary gain of $3,355,000 ($.03 per share) which was recorded in the second quarter of 1993 and resulted from the sale of the company's 49 percent interest in Hadson Energy Resources Corporation. The 1993 results compare to a net loss from continuing operations of $2,340,000 ($.06 per share) and a net loss from discontinued operations of $1,760,000 ($.04 per share) on revenues of $90,860,000 for the second quarter of 1992 and a net loss from continuing operations of $6,139,000 ($.16 per share) and a net loss from discontinued operations of $1,760,000 ($.04 per share) on revenues of $196,515,000 for the six months ended June 30, 1992.
 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)
 Periods ended June 30 Three Months Six Months
 1992 1993 1992 1993
 Results from
 Continuing Operations:
 Revenues $90,860 121,407 196,515 253,792
 Net loss (2,340) (2,494) (6,139) (4,287)
 Loss on disposal of
 power systems (1,760) - (1,760) -
 Extraordinary gain on
 sale of HERC - 3,355 - 3,355
 Net earnings (loss) $ (4,100) 861 (7,899) (932)
 Net Loss Per Common
 Share and Common
 Equivalent Share:
 Continuing operations $ (.06) (.02) (.16) (.04)
 Discontinued
 operations (.04) - (.04) -
 Extraordinary gain - .03 - .03
 Net earnings (loss) $ (.10) .01 (.20) (.01)
 Shares outstanding 38,777 127,268 38,777 125,595
 -0- 8/16/93
 /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

TM -- NY099 -- 3283 08/16/93 17:17 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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