

wsj_0161

11/02/89


WSJ891102-0030 = 891102 891102-0030.
Business Brief -- Hadson Corp.: @ Company Expects to Report @ Deficit for Third Quarter 11/02/89 WALL STREET JOURNAL (J) HAD



Hadson Corp. said it expects to report a third-quarter net loss of $17 million to $19 million because of special reserves and continued low natural-gas prices.

The Oklahoma City energy and defense concern said it will record a $7.5 million reserve for its defense group, including a $4.7 million charge related to problems under a fixed-price development contract and $2.8 million in overhead costs that won't be reimbursed.

In addition, Hadson said it will write off about $3.5 million in costs related to international exploration leases where exploration efforts have been unsuccessful.

The company also cited interest costs and amortization of goodwill as factors in the loss.

A year earlier, net income was $2.1 million, or six cents a share, on revenue of $169.9 million.

































