ONEOK earning rise 40 percent

Tuesday, August 2nd 2005, 10:17 am
By: News On 6

TULSA, Okla. (AP) _ Natural gas company ONEOK (ONE'-oak) Incorporated reports that second-quarter 2005 net income rose 40 percent from the same period last year.

The company says the increase is a result of stronger natural gas, natural gas liquids and oil prices.

Net income for the quarter was 24-point-nine (m) million dollars compared with last year's 17-point-eight (m) million dollars.

The company also says it is revising its 2005 earnings guidance. Net earnings per share are expected to be in the range of two-dollars-56-cents to two-dollars-62 cents per diluted share. The revised guidance for income from continuing operations is in the range of one-dollar-92-cents to one-dollar-98-cents per diluted share.

ONEOK is among the largest natural gas distributors in the United States and serves more than two (m) million customers in Oklahoma, Kansas and Texas.