Business
Paul Mueller Company Announces Its Third Quarter Earnings of 2016
Paul Mueller Company Announces Its Third Quarter Earnings of 2016.
About this update from Mueller (paul) Co.
[{"type":"text","content":"\n\n SPRINGFIELD, Mo., Oct. 28, 2016 (GLOBE NEWSWIRE) -- Paul Mueller Company (OTC:MUEL) today announced earnings for the quarter ended September 30, 2016.\n The Company has made progress on important initiatives previously discussed in the 2015 annual report. Of note, the Company successfully completed a lump sum offer to some of its pension participants which had a $6.7 million noncash negative effect on pretax earnings.   PAUL MUELLER COMPANY NINE-MONTH REPORT Unaudited                 CONSOLIDATED STATEMENTS OF INCOME                 (In thousands)  Three Months Ended Nine Months Ended Twelve Months Ended     September 30 September 30 September 30      2016   2015   2016   2015   2016   2015                  Net Sales   $44,116  $40,102  $130,801  $134,456  $174,940  $185,011  Cost of Sales    33,117   27,133   94,682   94,266   126,778   131,551  Gross Profit  $10,999  $12,969  $36,119  $40,190  $48,162  $53,460  Selling, General and Administrative Expense  16,045   10,295   38,766   30,324   47,477   41,606  Operating Income  $(5,046) $2,674  $(2,647) $9,866  $685  $11,854  Interest Expense  (86)  (80)  (185)  (301)  (246)  (528) Other Income (Expense)   (49)  17   (160)  (309)  (74)  (441) Income before Provision for Income Taxes $(5,181) $2,611  $(2,992) $9,256  $365  $10,885  Provision (Benefit) for Incom...