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Springfield, MO
Paul Mueller Co. (OTC: MUEL) cited U.S. tax law changes and international expenses for a larger net loss in 2017.
The Springfield-based stainless steel equipment manufacturer recorded a $2.33 million net loss for the 12 months ended Dec. 31, 2017. That’s 2 percent worse than the $2.28 million loss posted a year earlier, according to a news release.
The company took a large hit in the fourth quarter, when its net loss was $4.6 million, compared with a loss of $755,000 in the same quarter of 2016.
Mueller Co. officials indicated 2017 net income was adversely affected by $4.2 million in expenses related to U.S. tax overhaul, as well as costs to consolidate its four Dutch plants into a single center in the Netherlands. Consolidation costs included severance payments, lease terminations and losses on the sale of assets, according to the release.
Full-year financial notes:
• Net sales were down slightly to $167.96 million from $168 million a year earlier.
• Mueller Co.’s job backlog as of Dec. 31 was $94 million, a 113 percent increase from the same time in 2016.
• Domestic revenue rose 8.4 percent to $120.3 million.
As of Dec. 31, Mueller Co. had $139.9 million in assets, according to the release.
Mueller Co.’s over-the-counter stock was trading at $34.50 as of 9:34 a.m., compared with a 52-week range of $26.60 to $40.
Helping people is the foremost purpose in business for Angela Stephens. The idea for Re-Focus the Creative Office was born to help her son, Drake Stephens, who had started struggling in school in fifth grade.
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