O'Reilly Auto quarterly sales climb 14.3%

In its earnings release April 24, the company announced first-quarter net income of $48.4 million, up 19.3 percent from $40.6 million a year ago. Diluted earnings per share rose 20 percent to 42 cents, on 115.5 million shares.

Sales for the quarter were $613 million, up 14.3 percent from a year ago. Quarterly gross profit was $269 million, up 15.4 percent.

Comparable store sales – stores open for at least a year – increased 6.8 percent for the quarter and 3.8 percent for 2006.

With its 47 new stores, O’Reilly has 1,687 locations, and the company is on track to open between 190 and 195 additional stores this year.

O’Reilly officials have set a goal of $4 billion in sales by 2010. The company surpassed a previous sales goal of $2 billion in early 2006.

Company shares (Nasdaq: ORLY) closed May 2 at $36.48, compared to a 52-week range of $27.49 to $38.84.

Paul Mueller shows steep 1Q growth

Paul Mueller Co. showed double-digit percentage increases in both sales and gross profit for the first quarter, according to the Springfield-based steel equipment manufacturer’s quarterly report released April 25.

Net sales for the quarter were $49.5 million, up 94 percent from first-quarter 2006. Quarter gross profit was $8.5 million, a 73 percent increase.

Net income for the quarter was $1.9 million, up from $147,000 a year ago, while diluted earnings per share were $1.61, up from 13 cents a year ago but down from $5.12 in fourth-quarter 2006.

Operating income posted strong growth, reaching $2.8 million, compared to a loss of $45,000 in first-quarter 2006.

Total assets as of March 31 were $117.6 million, and the company had a $160.5 million backlog.

Company shares (OTC: MUEL.PK) closed May 2 at $49.05, just under the 52-week high of $50.

Leggett’s profit increases after 1Q divestiture

Leggett & Platt’s first-quarter sale of its Prime Foam division gave the manufacturer a 7-cent lift in quarterly per-share earnings, a boost that continues to be offset partially by the sale’s slight drain on income.

The Carthage-based diversified manufacturer saw earnings of 41 cents per diluted share for the quarter, including the 7-cent benefit from Leggett’s discontinued Prime Foam operations that netted a pretax gain of $24 million. First-quarter earnings were up from 33 cents a year before, when figures included 3 cents-per-share from Prime Foam income. Year-ago earnings also included 4 cents-per-share related to a long-term restructuring ongoing at the company since 2005.

The absence of Prime Foam income is expected to affect Leggett’s operating earnings by 1 cent-per-share each quarter for the remainder of the year, according to a company news release.

Sales for the quarter were $1.29 billion from continuing operations, a 2.2 percent decrease from a year before. Same-store sales fell 3.7 percent.

About 1.5 percent of the revenue increase was due to acquisitions, the company reported. Leggett added a designer and assembler of docking stations for electronic equipment inside vehicles, and a manufacturer of coated wire products, including dishwasher racks. Those new units are expected to add $80 million in annual sales.

The company expects to take in $700 million in 2007 and plans to spend about $200 million on dividends and maintenance capital, with the remainder available for investment in internal growth and acquisitions. Officials project 2 percent sales growth in 2007, with earnings per-share coming in between $1.60 and $1.80.

Company shares (NYSE: LEG) closed May 2 at $23.86, compared to a 52-week range of $21.93 to $27.04.

Empire District annual EPS rise 45 cents

The Empire District Electric Co. issued its first-quarter earnings report April 26, noting an increase in income that was hurt slightly by maintenance costs associated with January’s ice storm.

The Joplin-based utility’s earnings for the quarter were $4.5 million, or 15 cents per share, compared to $1.6 million, or 6 cents per share, in first-quarter 2006. Earnings for the year ended March 31 were $42.2 million, or $1.44 per share, up from $25.6 million, or 99 cents per share.

Electric operations, which include water operations, contributed $2.8 million in net income for the quarter, compared to $2 million a year ago. Gas operations, which were acquired in June, contributed $1.7 million.

Officials attribute the jump in net income to a $14.3 million increase in electric revenue from first-quarter 2006, due mostly to a rate increase that went into effect Jan. 1. The increase was offset by higher costs in fuel and purchased power and an electric maintenance cost of $5.2 million because of the January ice storm.

The company also declared a quarterly dividend of 32 cents per share of common stock, payable June 15 to shareholders of record on June 1.

Shares (NYSE: EDE) closed May 2 at $24.95, compared to a 52-week range of $20.25 to $26.13.