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The Springfield-based stainless steel equipment manufacturer’s profits swing to a positive $1.8 million in the third quarter.
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The Springfield-based stainless steel equipment manufacturer’s profits swing to a positive $1.8 million in the third quarter.

Mueller Co. moves back into the black

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After a third-quarter loss in 2016, Paul Mueller Co. (OTC: MUEL) reversed course this year, and its stock is performing at a 52-week high.

The Springfield-based stainless steel equipment manufacturer posted earnings of $1.8 million, or $1.51 per diluted share, compared with a net loss of $3.2 million, or a loss of $2.66 per share, in third-quarter 2016, according to a news release.

Last year’s loss
occurred when Mueller Co. paid out $13.8 million to 218 pension participants. Lump-sum pension payments were not present in the latest quarter.

Third-quarter financial notes:
    •    Net sales rose 9.4 percent to $48.3 million compared with a year earlier.
    •    Domestic sales led with a 12 percent increase to $34.9 million.
    •    A slow dairy farm market in the Netherlands dragged on the company’s European sales, keeping them roughly flat at $13.5 million.

Mueller Co. held assets of $136.7 million as of Sept. 30, according to the release.

The manufacturer’s over-the-counter stock hit a 52-week high yesterday of $37 per share. Its 52-week low is $26.60 per share.

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