logo
Share SHARE
FONT-SIZE Plus   Neg

Mueller Industries Posts Lower Q1 Profit - Quick Facts

Mueller Industries, Inc. (MLI) posted first-quarter net income of $32.6 million or $0.85 per share versus $40.6 million or $1.07 per share last year.

According to the company, the first quarter of 2012 includes the effects of a LIFO gain of $8.0 million or 13 cents per share and a gain on the settlement of an insurance claim of $1.5 million or two cents per share.

Excluding these unusual items, Mueller's net income for the first quarter was $26.6 million or 69 cents per share compared to $33.8 million or 89 cents per share in the first quarter of 2011.

Net sales in the first quarter declined to $577.7 million from $687.7 million in the same quarter a year earlier.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Lab equipment maker Thermo Fisher Scientific Inc. has agreed to acquire electron microscope maker FEI Co. for about $4.2 billion in cash, the two companies said Friday. Thermo Fisher noted that FEI's electron microscopy platform will complement its own mass spectrometry systems to accelerate advancements in structural biology. While reporting a wider loss for the first quarter, Sears Holdings Corp. said it has decided to "aggressively evaluate" all potential alternatives for its top brands - Kenmore, Craftsman and DieHard or KCD, and the Sears Home Services or SHS businesses. Sears has retained Citigroup Global Markets and LionTree Advisors to assist in its efforts. Philips Lighting, the splinter group of Dutch consumer electronics giant Philips, saw its shares rally around 8.50 percent on its debut on Friday at the Amsterdam stock exchange. The shares are currently at 21.70 euros, above its set pricing of 20 euros per share.
comments powered by Disqus
Follow RTT