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NEWPARK RESOURCES REPORTS THIRD QUARTER RESULTS

 NEW ORLEANS, Oct. 27 /PRNewswire/ -- Newpark Resources, Inc. (NASDAQ: NPRS) today reported income of $1,342,000, equal to 15 cents per share, in the third quarter on revenues of $19.9 million. This compares to income of $917,000, or 10 cents per share, on revenues of $15.2 million in the same quarter of 1992, representing a 46 percent increase in earnings on revenue growth of 31 percent.
 Forh?e first nine months, net income totaled $2,772,000, or 30 cents per share, on revenues of $53.1 million. This compares to net income of $3,794,000, equal to 42 cents per share, on revenues of $46.2 million in the same period of 1992.
 Revenue and income in the prior year were affected by Hurricane Andrew which disrupted operations in the markets served by the company.
 James D. Cole, president and CEO, commented that third quarter income, which almost equaled the combined results of the first and second quarters, reflected the recovery of natural gas drilling activity in the company's key markets from the historic low levels experienced in the first half of the year. While the level of activity as measured by the rig count has improved over 40 percent in that time, industry analysts suggest that further improvement can be expected into 1994. Cole noted that the company's revenue and income growth had occurred despite the slowness of the pit remediation market which has persisted throughout the first nine months of 1993.
 Newpark Resources, Inc. provides integrated environmental and oilfield services to the exploration and production industry.
 NEWPARK RESOURCES, INC.
 Statement of Operations
 (Unaudited; in 000s, except per-share amounts)
 Third Quarter Ended Nine Months Ended
 Sept. 30 Sept. 30
 1993 1992 1993 1992
 Revenues $19,885 $15,167 $53,148 $46,160
 Net income 1,342 917 2,772 3,794
 Earnings per share $.15 $.10 $.30 $.42
 Weighted average number of
 common and common
 equivalent shares
 outstanding 9,148 9,109 9,144 9,106
 Consolidated Revenues and Operating Profit by Industry Segment
 (Unaudited)
 For the Three Month Periods Ended Sept. 30
 1993 1992
 Operating Operating
 Industry Segments Revenues Profit Revenues Profit
 Environmental services $13,420 $1,625 $10,470 $914
 Oilfield services 2,727 589 1,594 269
 Marine services 3,738 179 3,103 443
 Total $19,885 2,393 $15,167 1,626
 For the Nine Month Periods Ended Sept. 30
 1993 1992
 Operating Operating
 Industry Segments Revenues Profit Revenues Profit
 Environmental services $35,868 $3,967 $31,356 $3,305
 Oilfield services 6,225 1,080 5,252 1,168
 Marine services 11,055 755 9,552 880
 Total $53,148 5,802 $46,160 5,353
 The 1992 segment operating profits reported herein have been restated to reflect expense allocation adjustments effected Dec. 31, 1992.
 -0- 10/27/93
 /CONTACT: Matthew W. Hardey, VP-finance of Newpark Resources, 504-838-8222/
 (NPRS)


CO: Newpark Resources, Inc. ST: Louisiana IN: OIL SU: ERN

CK -- NY119 -- 7585 10/27/93 18:17 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
Words:501
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