A reversal from a net loss a year earlier, Paul Mueller Co. (OTC: MUEL) reported positive earnings in the third quarter.
The Springfield-based stainless steel manufacturer's net income was $980,000, compared with a loss of roughly $1 million in third-quarter 2021, according to a news release. Diluted share earnings were 90 cents during the latest quarter, up from a 96-cent share loss in the same three-month period last year.
Third-quarter financial notes for Mueller Co.
• Net sales climbed 6.3% to $45.8 million.
• Work order backlog was $139.2 million as of Sept. 30, up from $78.4 million at the end of 2021.
• The company employed 39 additional workers as of Sept. 30 compared with the beginning of the year, with 18 in production, a 5% increase.
As of Sept. 30, Mueller Co.'s assets were $128 million, according to the release.
The company's over-the-counter stock closed at $47.99 on Friday , compared with a 52-week range of $38.23 to $48 per share.
A pair of area medical colleges that received state grant funding in the fall are now investing the funds toward technology and new programs with the intent of attracting more students to the nursing profession.