wsj_0161.xml
WSJ891102-0030
WSJ891102-0030
=
891102
=
891102
891102-0030
.
891102-0030
.
Business
Brief
--
Hadson
Corp.
:
@
Company
Expects
to
Report
@
Deficit
for
Third
Quarter
Business
Brief
--
Hadson
Corp.
:
@
Company
Expects
to
Report
@
Deficit
for
Third
Quarter
11/02/89
11/02/89
11/02/89
WALL
STREET
JOURNAL
(
J
)
WALL
STREET
JOURNAL
(
J
)
HAD
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
wo
n'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
.