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PARKER POSTS PROFITABLE QUARTER

 TULSA, Okla., Jan. 13 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) reported today unaudited revenue of $40,043,000 and net income of $1,608,000 or $.03 per share for the first three months of fiscal 1994, which ended Nov. 30, 1993.
 For the same quarter a year ago the comparison reflects total revenue of $23,927,000, a net loss of $2,527,000, and net loss per share of $.05.
 "Our profitable first quarter reflects higher rig utilization, primarily in international markets," said Robert L. Parker Jr., president and chief executive officer. He cited Russia, Kazakhstan and Argentina specifically as more active than they were a year ago.
 Parker, founded in 1934, is a worldwide drilling contractor with operations in 19 countries.
 PARKER DRILLING COMPANY
 Financial Highlights
 (In thousands except per share data)
 First Quarter First Quarter
 Fiscal 1994 Fiscal 1993
 Revenue $ 40,043 $ 23,927
 Net Income (Loss) $ 1,608 $ (2,527)
 Income (Loss) Per Share $ .03 $ (.05)
 Total Assets $ 239,647 $ 244,326
 Stockholders' Equity $ 209,475 $ 208,197
 -0- 1/13/94
 /CONTACT: Ed Hendrix or Phil Burch of Parker Drilling Company, 918-585-8221/
 (PKD)


CO: Parker Drilling Company ST: Oklahoma IN: OIL SU: ERN

MP -- NY028 -- 1722 01/13/94 09:42 EST
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Publication:PR Newswire
Date:Jan 13, 1994
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