Paul Mueller Co. records $257K quarterly loss

Paul Mueller Co. (OTC: MUEL.PK) posted a first-quarter net loss of $257,000, though sales rose 22 percent compared to the same quarter a year ago. The net loss represented a 91.2 percent increase compared to the company's 2010 first-quarter loss of $2.9 million.

The stainless steel manufacturer reported a loss per share of 22 cents during the quarter, compared to a loss of $2.45 per share in the same quarter of 2010.

First-quarter highlights:

• Sales were $30.8 million, up from $25.2 million in first-quarter 2010.
• Cost of sales was $20.9 million, compared to $19.3 million.
• Long-term debt dropped to $17.7 million from $18.2 million.

Paul Mueller Co.'s assets were $112.9 million as of March 31, up from $102.8 million at the end of 2010.

The company manufactures stainless steel equipment and performs on-site construction, repair and maintenance.  

Paul Mueller's pink sheet stock closed May 11 at $19.50 per share, compared to a 52-week range of $14.56 to $27.[[In-content Ad]]