OKLAHOMA CITY (AP) -- OGE Energy Corp. said Thursday that net income fell by 8.8 percent in the second quarter as sales declined in its electric utility and natural gas marketing business.
The Oklahoma City energy company reported earnings of $93.9 million, or 95 cents per share, for the April-June quarter. That compares with $103 million, or $1.04 per share, for the same part of 2011. Revenue fell by 12.6 percent to $855 million.
OGE operates electric utility, natural gas transportation and storage, natural gas gathering and processing and natural gas marketing businesses. The company said that weaker electricity sales hurt its utilities business while a drop in natural gas prices cut into its natural gas marketing business in the quarter.
The company kept its profit forecast unchanged for 2012 at $3.40 to $3.60 per share.
Shares rose $1.15, or 2.2 percent, to $54.08 in afternoon trading.
