Mueller Water Products, Inc. (NYSE: MWA) today reported net sales of $311.3 million and a net loss of $13.7 million for the fiscal 2011 second quarter ended March 31, 2011. Summarized consolidated 2011 second quarter results compared to 2010 second quarter results are as follows:
- Net sales for the 2011 second quarter were $311.3 million, up 3.1 percent, compared to $301.8 million for the 2010 second quarter.
- Loss from operations for the 2011 second quarter was $6.9 million compared to a loss from operations for the 2010 second quarter of $22.9 million. Adjusted loss from operations for the 2011 second quarter of $4.8 million improved $7.6 million from adjusted loss from operations of $12.4 million for the 2010 second quarter.
- Net loss per share for the 2011 second quarter was $0.09 compared to a net loss per share for the 2010 second quarter of $0.15. Adjusted net loss per share for the 2011 second quarter was $0.07 compared to an adjusted net loss per share for the 2010 second quarter of $0.11.
- Adjusted EBITDA for the 2011 second quarter of $15.8 million increased $6.8 million from adjusted EBITDA for the 2010 second quarter of $9.0 million.
“During the quarter, we benefited from both higher sales pricing, which covered increased raw material costs, and ongoing cost savings initiatives in all three of our businesses,” said Gregory E. Hyland, chairman, president and chief executive officer of Mueller Water Products. “Anvil’s second quarter adjusted income from operations, excluding a 2010 one-time gain, more than doubled.
“At Mueller Co., we continued to invest in new products and services that we believe have significant growth potential, including advanced metering infrastructure at Mueller Systems and pipe condition assessment and leak detection services at Echologics. These products and services enable our customers to maximize the efficiency of their water infrastructure systems which is becoming increasingly important. However, in the short term, expenses associated with these investments are masking the higher margins of the rest of our Mueller Co. business.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV