O'Reilly reports 40% revenue increase

O’Reilly announced its 13th consecutive year of record annual revenues, as annual income – before the cumulative effect of accounting changes – surpassed $164.3 million, up 39.6 percent from $117.7 million in 2004. Shares (Nasdaq: ORLY) closed March 1 at $37.20, a new 52-week high.

Diluted earnings per common share for the year, also before accounting changes, increased 38.1 percent to $1.45 on 113.4 million shares.

Product sales for 2005 totaled $2.05 billion, up 18.8 percent from the $1.72 billion total of the previous year, and 2005 gross profit increased 20.1 percent to $892.5 million. Comparable store sales – those open at least a year – increased 7.5 percent for the year.

For the fourth quarter of 2005, net income reached $39.5 million, up 79.5 percent from the $22 million posted in the fourth quarter of 2004. Diluted earnings per common share were 35 cents in the quarter, up 75 percent from the same period in 2004.

Fourth-quarter product sales totaled $515 million, up 20.4 percent from the same period in 2004, while comparable store sales increased 7.4 percent.

Company officials say the growth will continue in 2006, with 170 to 175 new stores and a new distribution center expected.

Decorize sales down, orders up

While Springfield-based Decorize Inc. reported increased open sales orders for its second quarter, lower sales volume resulted in a quarterly loss.

The supplier and manufacturer of home accents reported Feb. 13 the results for its fiscal-year 2006 second quarter, ended Dec. 31.

Open sales orders grew 116 percent during the quarter, due partly to record-breaking orders taken in October at the International Home Furnishings Market in High Point, N.C. Year-over-year sales orders in the independent sales channel more than doubled.

Quarterly revenue was $1.6 million, bringing in $479,000 in gross profit, but Decorize still reported a $700,000 loss for the quarter because of lower sales volume.

“The changes that we at Decorize have implemented in our product design process, as well as improvements to our supply chain, have resulted in significant sales growth,” said Steve Crowder, CEO, in a news release. “Although the increased order activity did not have a positive impact to our second-quarter results, we anticipate the increased activity will lead to much stronger sales levels during the third quarter.”

Warrant-holders throughout the year exercised their warrants in exchange for 2.1 million common shares of Decorize, showing shareholder confidence and providing additional capital to expedite product delivery, Crowder said in the release.

Decorize shares (AMEX: DCZ) closed March 1 at 51 cents, compared to a 52-week range of 40 cents to 81 cents.

Paul Mueller Co. moves into black

Springfield stainless steel manufacturer Paul Mueller Co. turned a multimillion-dollar loss into a multimillion-dollar gain in 2005, and it means new jobs for the local work force.

Net income topped $6.6 million, compared to a loss of $8.6 million in 2004. Net sales for the company were up 22.3 percent from 2004, totaling $138.1 million.

The positive results have led to 59 job openings at the 800-employee Springfield shop and six in field construction. Fifty positions are for welders, grinders and production workers, and nine slots are in sales, project management and design.

Company officials cite a strong starting backlog and a 9.5 percent increase in order entry as factors in the year’s results and the addition of new staff.

“Across the board, when it comes to order entries, shipment and performance, all of our segments contributed to 2005,” President and CEO Matthew Detelich said. “The market is improving in the areas we are servicing, and our capabilities are improving.”

Diluted earnings per common share of the company’s stock totaled $5.68 for the year, compared to a loss of $7.36 per share in 2004.

Quarterly sales were $39.5 million, compared to $35.3 million in fourth-quarter 2004, leading to quarterly earnings per diluted share totaling $3.31, up from 69 cents in the same quarter last year.

Shares of company stock, traded over the counter under the symbol MUEL.PK, ended trading Feb. 27 at $33.50.[[In-content Ad]]