Energy services company OGE Energy has reported a net income of $21.8 million for the fourth quarter ended December 31, 2008, compared to $37.6 million for the same period of 2007.
For the fourth quarter ended December 31, 2008, the company has reported operating revenues of $686 million, compared to $958.2 million for the same period of 2007.
According to the company, it has reported operating income of $60.1 million for the fourth quarter of 2008, compared to $73.6 million for the same period of 2007.
The energy services company has reported a net income of $231 million in 2008, compared to $244 million in 2007.
OGE Energy reported consolidated operating revenues of $4.1 billion in 2008, compared with $3.8 billion in 2007. The company has reported operating income of $462 million in 2008, compared to $455 million in 2007.
For the three months ended December 31, 2008, OGE Energy reported earnings of $0.23 per diluted share, compared with $0.40 per diluted share in the fourth quarter of 2007. The decrease was due primarily to lower profit margins in the Enogex pipeline business. The 2008 results also included a $0.06 per share non-recurring charge related to the planned initial public offering of Enogex LLC and the previously proposed ETP Enogex Partners joint venture, said the company.
