Mueller Water Products Inc. (MWA) Tuesday reported second-quarter net income of $6 million or $0.04 per share, compared with net loss of $110 million or $0.70 per share last year.
Results for the prior-year quarter included a loss of $101 million related to discontinued operations.
Excluding items, earnings for the quarter would have been $7.3 million or $0.05 per share, compared with loss of $1.4 million or $0.01 per share a year ago.
On average, 10 analysts polled by Thomson Reuters estimated earnings of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.
Mueller makes products used in the transmission, distribution, and measurement of water.
The Atlanta, Georgia-based company reported quarterly revenues of $283 million, up 12.6 percent from $252 million a year ago, helped by higher shipment volumes. Analysts on consensus estimated revenues of $270.81 million for the quarter.
Adjusted operating margin for the quarter improved by 670 basis points to 12.5 percent.
The company's stock closed Tuesday at $5.92, up 0.34%, on a volume of 0.9 million shares on the NYSE. In after hours, the stock gained $0.58 or 9.80%.
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