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PARKER DRILLING POSTS NET LOSS

 TULSA, Okla., April 13 /PRNewswire/ -- Parker Drilling Co. (NYSE: PKD) reported today unaudited revenue of $25,306,000 and a net loss of $4,971,000 or nine cents per share for the second quarter fiscal 1993, which ended Feb. 28.
 This compares to revenue of $31,870,000, and net income of $2,558,000, or net income per share of five cents for the same quarter one year ago.
 "For the second quarter, Parker's earnings reflect a lack of activity in Russia and Myanmar -- markets which were active a year ago," said Robert L. Parker Jr., president and chief executive officer. "However, we are gratified to have recently been awarded a contract by BP Exploration in Western Siberia and look forward to resuming operations in Russia," he added.
 A worldwide oil and gas drilling contractor, Parker Drilling specializes in deep gas, Arctic and remote location drilling.
 PARKER DRILLING FINANCIAL HIGHLIGHTS
 (In thousands except per share data)
 QUARTER ENDED FEB. 28 SIX MONTHS ENDED FEB. 28
 Fiscal 1993 Fiscal 1992 Fiscal 1993 Fiscal 1992
 Revenue $ 25,306 $ 31,870 $ 49,233 $ 58,533
 Net Income
 (Loss) $ (4,971) $ 2,558 $ (7,498) $ 4,054
 Income (Loss)
 Per Share $ (0.09) $ 0.05 $ (0.14) $ 0.08
 Total Assets $ 238,188 $ 268,797 $ 238,188 $ 268,797
 Stockholders'
 Equity $ 204,869 $ 223,812 $ 204,869 $ 223,812
 -0- 4/13/93
 /CONTACT: Ed Hendrix or Phil Burch of Parker Drilling, 918-585-8221/
 (PKD)


CO: Parker Drilling Co. ST: Oklahoma IN: OIL SU: ERN

SG -- SF004 -- 5142 04/13/93 10:30 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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