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HORNBECK OFFSHORE SERVICES ANNOUNCES FINANCIAL RESULTS

 HORNBECK OFFSHORE SERVICES ANNOUNCES FINANCIAL RESULTS
 GALVESTON, Texas, April 24 /PRNewswire/ -- Hornbeck Offshore


Services, Inc. (NASDAQ-NMS: HOSS), today announced its results of operations for the quarter ended March 31, 1992.
 Revenues totaled $4,047,000 and the net loss was $573,000 or $0.07 per share in the first quarter. In the first three months of 1991, revenues were $5,493,000 and net income was $540,000 or $.05 per share. The company's profitability is being negatively affected by the industry-wide decline in dayrates and utilization rates for offshore service vessels in the U.S. Gulf of Mexico.
 Larry D. Hornbeck, chairman of the board, president and chief executive officer, commented, "Activity in the Gulf of Mexico is at historic lows and the service vessel industry is again 'under siege.' However, we remain optimistic about the company's ability to adapt to current industry conditions through expanded specialty service activity, movement of vessels to stronger foreign markets, and by cutting operating costs in the U.S. Gulf of Mexico. Under current conditions, the size of the industry's domestic supply vessel fleet and number of operators will downsize considerably in the future. Considering Hornbeck's strong financial position, these negative events could result in opportunities for attractive acquisitions."
 The company 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 34 vessels. The fleet consists of supply, tug-supply, utility, crew, container hauling and geophysical vessels. The company maintains offices in Galveston, Texas, and Morgan City, La.
 HORNBECK OFFSHORE SERVICES, INC.
 Three months ended March 31 1991 1992
 Revenues $5,493,000 $4,047,000
 Net income (loss) $ 540,000 $ (573,000)
 Earnings (loss) per share $0.05 $(0.07)
 -0- 4/24/92
 /CONTACT: Robert W. Hampton, vice president, treasurer and chief financial officer of Hornbeck, 409-762-8228 or 713-488-0067/
 (HOSS) CO: Hornbeck Offshore Services, Inc. ST: Texas IN: OIL SU: ERN


GK -- NY038 -- 2401 04/24/92 11:28 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
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