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HORNBECK ANNOUNCES RECORD FIRST QUARTER RESULTS

 GALVESTON, Texas, April 26 /PRNewswire/ -- Hornbeck Offshore Services, Inc. (NASDAQ-NMS: HOSS) announced its results of operations for the quarter ended March 31, 1993. Revenues totaled $9,703,000 and net income was $1,779,000 or $.17 per share in the first quarter of 1993. These quarterly revenues and net income results are the highest to date recorded by the company. In the first three months of 1992, revenues were $4,047,000 and the net loss was $753,000 or $.07 per share. The improved performance was attributable to the acquisition of 21 vessels from Petrol Marine and related entities coupled with increasing vessel dayrates.
 Larry D. Hornbeck, chairman of the board, president and chief executive officer stated: "We are pleased with our improved results for the first quarter and the fact that industry conditions continue to improve. The first quarter results were based on utilization of the company's vessels for such period at a rate of slightly less than 80 percent due to the drydocking of certain vessels acquired from Petrol as previously anticipated."
 Hornbeck is engaged in the worldwide offshore marine services business, primarily serving the oil and gas industry through its operation and management of a diversified fleet of 52 vessels. The fleet consists of supply, tug-supply, utility, crew and various specialty service vessels. The company maintains its corporate headquarters in Galveston and has additional operating offices in Morgan City and Houma, La. The company's common stock is traded on the NASDAQ National Market System under the symbol "HOSS."
 HORNBECK OFFSHORE SERVICES, INC.
 (In thousands, except per share, unaudited)
 March 31,
 1992 1993
 Revenues $4,047,000 $9,703,000
 Net income (loss) (573,000) 1,779,000
 Net income (loss) per share (.07) .17
 Weighted average shares outstanding 8,636,000 10,486,000
 -0- 04/26/93
 /CONTACT: Robert W. Hampton, vice president, treasurer and chief financial officer of Hornbeck Offshore Services, Inc., 409-744-9500 or 713-488-0067/
 (HOSS)


CO: Hornbeck Offshore Services, Inc. ST: Texas IN: MAR SU: ERN

AH -- NY096 -- 0795 04/26/93 14:21 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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