Newspaper article THE JOURNAL RECORD

Enogex Pipeline Yields 4.5-Pct Gain for Oklahoma-Based OGE Energy

Newspaper article THE JOURNAL RECORD

Enogex Pipeline Yields 4.5-Pct Gain for Oklahoma-Based OGE Energy

Article excerpt

Aided by a profitable summer from its Enogex pipeline, OGE Energy Corp. reported slight gains in earnings during the third quarter, company officials said Thursday.

OGE Energy Corp.'s net income rose 4.5 percent to $126.8 million, or $1.37 per share, up from $121.4 million, or $1.31 per share, during the corresponding quarter of 2006.

Enogex had earnings of 22 cents per diluted share, up from 13 cents per share during the third quarter of last year. Enogex's gross margin was $86 million, well ahead of $67 million during the corresponding quarter.

The OG&E utility division earned $1.18 per diluted share, up from $1.16 per diluted share last year.

OGE Energy backed its 2007 earnings guidance of $2.30 to $2.50 per share. The forecast is based on a revenue estimate of approximately $213 million to $231 million.

"It was another quarter of solid business performance, especially in light of the mild summer weather we experienced," said Pete Delaney, chairman, president and chief executive of OGE Energy. …

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