NL INDUSTRIES INC &lt;NL> 4TH QTR DEC 31 LOSS

  Shr loss 28 cts vs profit seven cts
      Net loss 10.7 mln vs profit 5,188,000
      Sales 119.3 mln vs 216.1 mln
      Year
      Shr loss 5.80 dlrs vs profit 30 cts
      Net loss 324.2 mln vs profit 21.5 mln
      Sales 549.3 mln vs 859.1 mln
      NOTE: Share after preferred dividends.
      NOTE: In July 1986, company set a dividend on Series C
  preferred, effecting a spin-off of its chemical operations.
  They unit has been accounted for as a discontinued operation.
      Fourth quarter and full year 1986 reflect non-recurring
  charges from change in control at company. Fourth quarter 1986
  also reflects writeoff of 20.7 mln dlrs of goodwill.
      Full year 1986 includes a charge of 224.6 mln dlrs taken in
  the second quarter for asset revaluation and restructuring
  costs.
      In fourth quarter 1986, reversion of pension plan surplus
  assets completed. Fourth quarter and full year 1986 includes
  net income of 81.5 mln dlrs or 1.34 dlrs a share.
      Company also gained 2.4 mln dlrs or four cts a share in
  fourth quarter 1986, and 15.9 mln dlrs or 26 cts a share in
  full year 1986, from adoption of accounting rule SFAS 87.
      In fourth quarter 1986, company also adjusted carrying
  value of non-chemicals discontinued operations assets leading
  to charge of 15.6 mln dlrs.
  

