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 .