Oklahoma business briefs for July 29

Oklahoma business briefs for July 29, 2014
Oklahoman Published: July 29, 2014
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OKLAHOMA BRIEFS

Eatery schedules benefit

S&B Burger Joint, 7745 S Walker Ave., is hosting “Pay it Forward Tuesday” on Tuesday with 10 percent of net sales going to Central Oklahoma Habitat for Humanity. Volunteers will be on hand from 11 a.m. to 2 p.m. and from 5 to 8 p.m. to answer questions about Central Oklahoma Habitat. Applications for Habitat also will be available.

EARNINGS

Alliance Resource Partners LP

Alliance Resource Partners LP on Monday reported net income of $137.7 million, or $1.37 a unit, for the second quarter, fueled once again by record revenues and coal sales volumes. Alliance’s net income was up more than 32 percent from $104.1 million, or 98 cents a unit, for the same period of last year. “Building on its strong start to the year, ARLP continued its record-setting performance by once again posting new operating and financial benchmarks in the 2014 quarter,” CEO Joseph W. Craft III said. “Based on our record quarterly results and its confidence in ARLP’s future performance and growth prospects, our board is pleased to share this success with our unitholders by increasing distributions for the 25th consecutive quarter.” The board for Alliance’s general partner increased its cash distribution to 62.5 cents a unit.

Alliance Holdings GP LP

Alliance Holdings GP LP posted record net income of $77.3 million, or $1.29 a unit, for the second quarter thanks to strong results achieved by its operating subsidiary, Alliance Resource Partners LP. Alliance Holdings also reported Monday that the board of its general partner has increased its cash distribution to 87 cents a unit. The holding company earned $61 million, or $1.02 a unit, in the same period of last year.

From Staff Reports