Area public companies report first-quarter results

First-quarter earnings were 33 cents per share, including 4 cents for restructuring costs, compared to 37 cents in first-quarter 2005, which included 1 cent for restructuring costs.

Sales for the manufacturer of residential and office furniture totaled $1.38 billion, up 5.9 percent from the same period last year. Acquisitions increased sales by about 6 percent but were partially offset by a 1 percent decline in sales due to restructuring activity.

Company Chairman and CEO Felix E. Wright said in a news release that he expects sales to grow 5 percent in 2006 and full-year earnings per share to increase as much as 35 percent.

Company shares (NYSE: LEG) closed May 3 at $26.73, compared to a 52-week range of $18.19 to $28.60.

O’Reilly Automotive gains

Springfield-based O’Reilly Automotive Inc. reported record earnings for the first quarter, posting 35 cents per share.

Per-share earnings were up 16.7 percent from 30 cents in first-quarter 2005.

Net income for the quarter was $40.6 million, a 22.1 percent increase from $33.2 million during the same period last year. Product sales also were on the rise at $536.5 million, a 15.1 percent jump from $466.2 million a year ago.

Gross profit for the quarter increased to $233.4 million, from $196.2 million last year. Operating, selling, general and administrative expenses increased 18.1 percent to $168.5 million.

O’Reilly opened 36 stores during the quarter and continued work on a new distribution center in Indianapolis.

Shares of O’Reilly stock (Nasdaq: ORLY) closed May 3 at $33.89, compared to a 52-week range of $25.74 to $38.30.

Paul Mueller Co. losses

Springfield-based Paul Mueller Co. announced April 21 first-quarter earnings of 13 cents per share, down from $1.72 a year ago.

Net income reached $147,000, representing a $1.9 million decrease from first-quarter 2005. Net sales were $25.5 million, down from $32.8 million the same quarter last year.

The company gave no explanation to the losses in its quarterly report.

The company’s backlog increased during the quarter, as company officials predicted it would, after it was nearly depleted in the first quarter due to shipping methods. Backlog was $46.4 million, up from $37 million at the end of last year.

On May 1, the company also declared a 60-cent-per-share cash dividend payable June 9 to shareholders of record May 15.

Shares of Paul Mueller stock (OTC: MUEL.PK) closed May 2 at $37.25.

Empire District posts 1Q gain

Empire District Electric Co. posted a gain in first-quarter earnings, as customer growth and higher electric rates offset losses caused by warm weather and increased fuel costs.

The Joplin-based utility announced April 27 earnings of $1.6 million for the quarter, or 6 cents per share, compared to a first-quarter 2005 loss of $250,000.

Revenues were up by $8.4 million, or 10.6 percent. Increased electric rates had the most significant impact on revenues, contributing an estimated $11.6 million. Customer growth also increased revenues by an estimated $1.8 million.

Revenues were hurt, however, by the effects of the quarter’s weather, which reduced revenues by about $2 million and decreased off-system and other electric sales by $1.9 million.

Earnings for the 12 months ended March 31 were $25.6 million, or 99 cents per share, compared to earnings of $20 million, or 78 cents per share, in 2005. Total revenue for the year was up $66.7 million, or 20.3 percent.

Empire also declared a quarterly dividend of 32 cents per share, payable June 15 to shareholders of record June 1.

Empire District shares (NYSE: EDE) closed May 3 at $22.53, compared to a 52-week range of $19.25 to $25.01.[[In-content Ad]]