Oklahoma briefs: Pre-Paid Legal profits grow

Oklahoman Modified: April 28, 2009 at 5:15 am •  Published: April 28, 2009
Pre-Paid Legal profits grow

ADA — First-quarter profits grew 7 percent for Pre-Paid Legal Services Inc. when compared to the same period last year, when the company paid a higher tax bill, according to a report Monday. Net income grew to $17.1 million from $15.9 million in last year’s quarter. Pre-Paid spent $13.5 million in the first quarter to buy back its common stock at an average price of $32.05. Pre-Paid sells subscriptions to a limited packages of legal services through a multilevel marketing network of independent associates. Shares of Pre-Paid rose 2 percent to close Monday at $33.84.

Coal producer trims outlook
TULSA — Crediting rising coal prices, coal producer Alliance Resource Partners LP reported a 68 percent increase in first-quarter profits Monday. However, the company trimmed its 2009 revenue outlook, citing reduced demand for coal on the spot market because of the economic slowdown. Alliance reported earning net income of $72.5 million, or $1.56 a share, for the first quarter of 2009. That compares to $43.2 million, or 92 cents a share, for the same quarter a year earlier. The company announced it was increasing its quarterly distribution to shareholders to 73 cents per share, compared with 58.5 cents per share for the same quarter a year earlier and 71.5 cents a share for the fourth quarter of 2008. In a related announcement, Alliance Holdings GP reported it is increasing its quarterly distribution to 41.5 cents a share. The company distributed 28.75 cents a share for the same quarter a year earlier and 40.25 cents a share for the fourth quarter of 2008.

Chamber offers internship
A summer internship program offered by the Greater Oklahoma City Chamber kicks off June 6 at several Oklahoma City landmarks.


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