Mueller announces 36 cents per share earnings

The Springfield stainless steel component manufacturer announced 2005 third-quarter earnings of 36 cents per diluted share. It’s a marked improvement over the third quarter of 2004, in which the company lost $4.55 per share.

For the year to date, the company has seen net sales of $98.6 million, up 27 percent over last year, and net income of $2.79 million compared to a loss of $9.4 million during the same period in 2004.

The rosy earnings announcement comes just as the company announced a change in leadership. Matthew T. Detelich was elected as the company’s new president and CEO at an Oct. 14 board of directors meeting. He replaces Dan Manna, who retired in May after 23 years with the company.

Last week, Mueller Co. declared a 60-cent per share cash dividend to shareholders of record Nov. 21.

Shares of Paul Mueller stock (OTC: MUEL.PK) closed Oct. 28 at $28.60.