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Oklahoma business briefs for Feb. 26

Oklahoma business briefs for Feb. 26
Published: February 26, 2013
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Oklahoma briefs

Ada plant wins business award

— Holcim Inc.'s Ada plant has been recognized for its community partnerships. The plant was awarded the Outstanding Business Partner Award by East Central University in Ada. The facility will receive grants of $500 each from the state and the university; the funds can be used for tuition waivers for employees, paid internships for current students, a faculty externship or additional equipment, materials or supplies. Holcim is a cement and mineral component supplier with about 1,800 employees and 12 plants nationwide.

GMX considers restructuring

GMX Resources Inc. has retained financial adviser Jefferies & Co. Inc. to help the board and senior management explore financing alternatives, including a potential restructuring of the company's balance sheet in light of its current liquidity and cash needs, the Oklahoma City energy company said Monday. GMX said it is continuing to explore and evaluate options for its capital needs and that it is working to evaluate and finalize its 2013 budget for capital expenditures based on its available liquidity.

EARNINGS

ONEOK INC.

— ONEOK Inc. on Monday announced 2012 profits of nearly $361 million, or $1.71 per share, largely unchanged from almost $361 million, or $1.68 per share in 2011. Fourth-quarter profits were nearly $112 million, or 53 cents a share, down slightly from $115 million, or 55 cents a share in the year-ago quarter. “Our ONEOK Partners and natural gas distribution segments performed well in 2012, said John W. Gibson, ONEOK's chairman and CEO. ONEOK reduced its 2013 net income guidance range to $350 million to $400 million, down from its previous guidance range of $405 million to $455 million.

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