3 Oklahoma small firms make Forbes 100 list
Three companies in Oklahoma are among the best in the country in their size category, according to an upcoming edition of Forbes magazine.
Continental Resources Inc. of Enid, Tulsa-based AAON Inc. and Ada-based Pre-Paid Legal Services Inc. all made Forbes' list of America's 100 Best Small Companies of 2010.
The ranking, based on sales and other financial data, will be published in the Nov. 8 issue of Forbes.
To compile the annual list, the magazine ranks public companies that have revenues of $5 million to $1 billion. The enterprises must have been publicly traded for at least a year and have shares valued at more than $5.
Oil exploration company Continental Resources, included on the list for the first time, ranked No. 23 based on $906 million in revenues and sales growth of 15 percent in the four quarters ended June 30.
The drilling company has garnered headlines in becoming one of the largest holders of oil reserves in the country, and CEO Harold Hamm has become a billionaire in recent years.
Continental also had a healthy return on equity of 40 percent, Forbes says.
AAON, which makes heating and air conditioning equipment, made the list for the sixth time. Ranked 77th this year, the company continues to deliver steady results despite downturns in the construction industry.
The manufacturer had sales of $227 million during the past year and sales growth of 9 percent.
CEO Norm Asbjornson, in a written statement, said he is honored to be ranked again on Forbes' list and gave credit to the company's 1,165 employees.
Pre-Paid Legal Services immediately followed AAON at No. 78, just a day after announcing that it was considering a buyout from an unidentified private equity firm.
Pre-Paid, which partners with law firms across the country to offer legal services, increased its revenues 4 percent in the last year to $460 million.
AAON and Pre-Paid Legal Services each made last year's list ranked at 58th and 66th, respectively.
Read more from this Tulsa World article at http://www.tulsaworld.com/business/article.aspx?subjectid=46&articleid=20101027_46_E1_Threec909363
Wed, October 27, 2010
by Ann Miller