Mueller Co. more than doubles profits on higher sales, less expenses

Paul Mueller Co. (OTC: MUEL) grew its second-quarter net income by 141 percent to $1.6 million from $653,000 a year earlier. But officials noted last year’s second-quarter results were adversely affected by pension payments.

The Springfield-based stainless steel equipment manufacturer reported diluted share earnings of $1.31 in the most recent quarter, up from 55 cents in second-quarter 2017, according to a news release.

Second-quarter 2018 financial highlights:
    •    Net sales grew 58 percent to $62.7 million.
    •    Domestic earnings rose 288 percent, while European profits dipped 1.3 percent.
    •    The company’s order backlog was at $81.5 million at the end of the quarter, compared with $94 million as of Dec. 31, 2017.

As of June 30, Mueller Co.’s assets were $147.5 million, according to the release.

Mueller Co.’s over-the-counter stock was trading at $30.50 as of 10:14 a.m., compared with a 52-week range of $28.52 to $40.