Paul Mueller Co. (OTC: MUEL) swung to a net loss in the third quarter as its pharmaceutical and field operations divisions posted less revenue.
The net loss was $1 million for the Springfield-based stainless steel manufacturer, compared with profits of $4 million a year earlier, according to a news release. The company took a diluted share loss of 96 cents after posting $3.34 in per-share profits in third -quarter 2020.
Third-quarter financial notes for Mueller Co.
• Revenue was down 16.6% to $43.1 million.
• The company's work order backlog was $75.8 million, up from $75.3 million a year earlier.
• A Paycheck Protection Program loan of $1.9 million was forgiven and showed up on the quarterly report.
As of Sept. 30, Mueller Co.'s assets were $121.4 million, according to the release.
The company's over-the-counter stock closed Oct. 29 at $43, compared with a 52-week range of $27.25 to $53 per share.
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