AAON profit rise in on higher revenues
BY KYLE ARNOLD World Staff Writer
Thursday, November 08, 2012
Tulsa’s AAON Inc. reported higher earnings and sales for the third quarter Thursday.
Profits for the heating and air conditioning manufacturer rose 7 percent to $6 million while the company watched sales increase 4 percent to $76.8 million, $3 million than the same period a year ago.
“The increases in revenues primarily reflect gains in market share, while the increases in earnings for the third quarter and the first nine months of 2012 were attributable to improved productivity,” said AAON president and CEO Norman H. Asbjornson.
For the first nine months of 2102, AAON sales were up 11 percent to $225.1 million, a record for the first three quarters. Net income was up 52 percent from the same period in 2011 to $19.9 million.
Asbjornson also said the company’s backlog of orders has grown slightly from a year ago.
The company also announced that is semi-annual dividend would be 12 cents a share, payable on Dec. 24 for shareholders that held stock in the company on Dec. 3.
AAON has about 1,100 employees at its Tulsa factory and headquarters.