After posting a net loss in the fourth quarter, Springfield-based Paul Mueller Co. (OTC: MUEL) started 2013 with earnings of $1.4 million, boosting the stainless steel manufacturer's bottom line by 9.7 percent from $1.3 million a year ago.
The company reported diluted earnings per share of $1.19 for the three months ended March 31, up from $1.07 in first-quarter 2012, according to a news release.
Mueller Co.'s sales were relatively flat at $41.5 million, led by a 4.5 percent increase in domestic sales to $27 million. European sales were $14.6 million last quarter, representing a 5.2 percent decrease from $15.3 million a year ago.
The company, which has assets of $104 million, saw its backlog rise 15 percent to $55.1 million last quarter from $48 million a year ago. The Springfield manufacturer also counted liabilities and shareholders' investment of $104 million as of March 31, according to the release.
Mueller Co.'s pink sheet stock was trading at $18.40 as of 9:30 a.m., compared to a 52-week range of $16 to $29.75.[[In-content Ad]]
