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Oklahoma business briefs for July 16

Oklahoma business briefs for July 16, 2014
Oklahoman Published: July 16, 2014
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Oklahoma brief

Former bank officer owes $45K

A former officer at a Durant bank was sentenced Tuesday to eight months of home detention after pleading guilty to embezzlement. Daniel James Abbott, 32, also must pay more than $45,000 in restitution. Abbott was an officer at Durant’s First National Bank and Trust between October 2011 and September 2013 when he took the money, according to prosecutors. The Calera resident, who pleaded guilty in May, also will be on probation for three years.

EARNINGS

EDUCATIONAL DEVELOPMENT CORP.

Educational Development Corp. on Tuesday reported net earnings of $239,700, or 6 cents a share, for the first quarter. That is up from $66,600, or 2 cents a share, in the same period of last year as the children’s book seller’s net revenue rose 20 percent to about $7.2 million. The company has not recorded a losing quarter in 27 years.

From Staff Reports