Oklahoma Business Briefs

LSB reports decline of profits

Costs related to the start-up of a chemical plant slashed third-quarter profits for LSB Industries, an Oklahoma City chemical and heat pump manufacturing company. Net income was $1.1 million for the third quarter, compared with $4.2 million for the same period last year. LSB Chairman and CEO Jack Golsen said the challenging economic environment combined with third-quarter start-up costs of $7.1 million for the Pryor chemical plant accounted for the decline. The recession reduced construction, which affected LSB’s climate control business, and margins in the chemical business were also narrowed in the quarter, Golsen said. LSB shares gained 67 cents, or 5.6 pecent, to close Thursday at $12.66.

Shares of the Beard Co., which split Tuesday, were being properly reflected in trading activity on the Over The Counter Bulletin Board at Thursday’s opening bell. Previously, the Bulletin Board was not showing that the stock had split 2-for-1.

Academy Sports + Outdoors will celebrate a grand opening at its Norman store from 10 a.m. to 4 p.m. Saturday. The 74,863-square-foot store at 2010 NW 24th Ave. is the ninth store to open this year and the Katy, Texas-based company’s 119th location nationwide. The new store has 125 employees.

FROM STAFF REPORTS

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