Paul Mueller Co. earnings drop nearly 9.6%

Paul Mueller Co.’s (OTC: MUEL) earnings dropped 9.6 percent to $3 million in the second quarter, down from $3.3 million in the same period of 2014.

The Springfield-based stainless steel equipment manufacturer posted diluted share earnings of $2.45 for the three month period ending June 30, 26 cents below earnings a year earlier, according to a news release.

Mueller Co. posted revenue of $49.7 million for the quarter, a 5.9 percent decrease from $52.8 million last year. Within that category, domestic sales dropped 6.7 percent to $32.5 million and European sales via Mueller BV moved down 4.6 percent to $17.9 million.

As of June 30, Mueller Co.’s assets were $125.7 million and backlog was $55.3 million, according to the release.

The company’s over-the-counter stock closed July 31 at $32 per share, compared to a 52-week range of $30-$54 per share.