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Springfield, MO
Last edited 3:23 p.m., Oct. 29, 2018
Springfield-based stainless steel equipment manufacturer Paul Mueller Co. (OTC: MUEL) posted $824,000 in third-quarter net income, a 54 percent drop from $1.8 million a year earlier.
In the quarter, domestic profits dropped by 21.4 percent to $1.6 million and the net loss for the company’s European unit widened to $740,000 from a loss of $191,000 a year earlier, according to a news release.
Third-quarter financial notes:
• Revenue fell by 3 percent to $46.8 million.
• Expenses related to federal tax legislation came to $200,000.
• Order backlog was $78.3 million as of Sept. 30, compared with $94 million at the end of 2017.
Mueller Co.’s assets were $143 million as of Sept. 30, according to the release.
The company’s over-the-counter stock closed Oct. 26 at $30.50.
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