Mueller Co.'s Q2 profits jump nearly 71%

Paul Mueller Co. (OTC: MUEL) reported a nearly 71% increase in second-quarter profits.

The Springfield-based stainless steel manufacturer posted net income of $11.6 million, up from $6.8 million in the same quarter last year, according to a news release. Earnings per share moved up to $12.50 from $7.26 year over year.

Mueller Co.'s top-line net sales figure grew by 10.6% to $72.6 million, and company officials additionally pointed to an end-of-quarter work backlog that totaled $234.2 million, up from $187.3 million a year earlier.

"The majority of this increase is related to our pharmaceutical customers, which continue to drive our improvement in revenue and net income over the prior year," Mueller Co. officials said in the release.

As of June 30, Mueller Co.'s assets were $195.3 million.

The company's over-the-counter stock was trading at $402.03 as of 11:01 a.m., compared with a 52-week range of $140 to $402.50 per share.