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HADSON REPORTS FIRST QUARTER RESULTS

 HADSON REPORTS FIRST QUARTER RESULTS
 OKLAHOMA CITY, May 15 /PRNewswire/ -- Hadson Corporation


(NYSE: HAD) today announced a loss from continuing operations for the first quarter of 1992 of $3,799,000 ($.10 per share) on total revenues of $105,565,000. This compares to earnings from continuing operations of $1,107,000 ($.03 per share) on revenues of $118,840,000 in the first quarter of 1991.
 J. Michael Adcock, president of Hadson, said, "We have filed preliminary proxy materials with the Securities and Exchange Commission regarding our previously announced proposed reorganization. We hope to shortly begin solicitation of votes for or against this plan of reorganization. This loss for the first quarter of 1992 is attributable primarily to the on-going high interest costs of our existing debt structure as well as costs related to the settlement of a contract dispute between our natural gas marketing group and a third party."
 Hadson Corporation is an independent producer and supplier of energy products and services. Hadson has continuing operations in natural gas and gas liquids.
 HADSON CORPORATION
 (In thousands, except per-share data)
 Three months ended March 31 1992 1991
 Results from operations:
 Revenues $105,565 $118,840
 Net earnings (loss) (3,799) 1,107
 Per-share data:
 Net earnings (loss) (.10) .03
 Shares used to compute earnings
 (loss) per share 38,777 35,572
 -0- 5/15/92
 /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


TS -- NY052 -- 0703 05/15/92 11:28 EDT
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Publication:PR Newswire
Date:May 15, 1992
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