Oklahoma business briefs
Study sees benefits in feed with probiotics
Officials from Edmond-based Energy and Environmental Services and Nature’s Formula said Thursday they are excited about study results involving piglets that added a probiotic supplement to their normal feed.
The study, conducted with North Carolina State University, combined the supplement with food the piglets normally ate as part of their diet during a 34-day period. The test group put on 10% more weight than the control group.
"We wanted to prove that applying the right probiotic mix to an animal's diet will increase natural weight gain over any normal feeding programs," Bill Strange, founder of Nature's Formula, added. “The importance of probiotics to any diet is essential.”
Strange added that scientists are seeing comparable results with cattle and horses that are receiving the supplement and that the probiotic supplement is shown to increase the health of an animal’s digestive system.
Blueknight Energy Partners reports $3.76 million profit
Blueknight Energy Partners LP this week recorded a first-quarter profit of $3.76 million on revenues of $93.7 million, compared to a net income of $4.44 million on revenues of $44.7 million in the first quarter of 2018.
After deducting preferred interest, the company recorded a net loss of 6 cents a share, compared to a loss of 5 cents a share in the year-ago quarter. Adjusted earnings before interest, taxes, depreciation and amortization was $16.2 million, down from $16.5 million one year ago.
“Our strong performance during the quarter was driven by higher throughput and margins, especially within our crude oil transportation segments,” CEO Mark Hurley said. “We continue to execute on our strategy to improve our financial profile by completing sales of non-core assets, enhancing the performance and efficiency of our current assets and generating and retaining more cash flow to pay down debt."
Matrix Service generates $8.93 million profit
Matrix Service Co. generated a profit of $8.93 million, or 33 cents a share, in the fiscal third quarter, compared to a loss of $6 million, or 19 cents a share, in the year-ago period, company officials said this week.
Revenues improved to $359 million from $246 million in the third quarter of 2018. The company's backlog increased 25 percent to $1.15 billion from $914 million one year ago.
Officials this week narrowed the company's full-year guidance to revenues between $1.375 billion and $1.425 billion and profits of between 90 cents a share and $1.10 a share.
“We are pleased with our third quarter results, which, as previously forecasted, reflect continued improvement in revenue, gross margins and earnings per share," CEO John R. Hewitt said. "This was led by strong performance in Storage Solutions and Oil Gas & Chemical, which was reinforced by increased scope on refinery turnaround projects and engineering work on a number of gas processing facilities."
Williams Cos. plans to issue dividend
Williams Cos. Inc. directors on Thursday approved a quarterly dividend of 38 cents a share payable June 24 to shareholders as of June 7.