WASHINGTON (dpa-AFX) - ONEOK Inc. (OKE) reported that its first-quarter net income attributable to the company was $122.9 million, compared with $130.1 million for the same period in 2011.Earnings were $1.16 per share, compared with $1.19 per share for the same period last year.
'Our ONEOK Partners segment again posted exceptionally strong results, benefiting from continued favorable NGL price differentials, increased natural gas liquids volumes gathered and fractionated and higher natural gas volumes gathered and processed in the Williston Basin,' said John W. Gibson, ONEOK chairman and chief executive officer.
Revenues for the quarter declined to $3.41 billion from $3.76 billion in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $1.31 per share on revenues of $4.69 billion for the quarter. Analysts' estimates typically exclude special items.
ONEOK reaffirmed its 2012 net income guidance range of $360 million to $410 million.
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