This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Mueller Water Products Reports Fiscal 2011 Second Quarter Results

“Municipalities recognize the need to upgrade their water infrastructure systems; however, we believe they will remain cautious in the near term as they balance this need against current budget concerns. With this caution, as well as the delayed recovery of the residential construction market, we believe that volumes in our water infrastructure businesses for the second half of the year will be roughly flat on a year-over-year basis. But our overall earnings performance should continue to improve given the benefits of higher pricing and our cost savings initiatives and other operational improvements we have made.”

Second Quarter Consolidated Results

Net sales for the 2011 second quarter of $311.3 million increased 3.1 percent from net sales for the 2010 second quarter of $301.8 million. Net sales increased primarily due to higher prices of $13.9 million, partially offset by lower shipment volumes of $5.1 million.

Adjusted loss from operations for the 2011 second quarter of $4.8 million improved $7.6 million from an adjusted loss from operations for the 2010 second quarter of $12.4 million. Manufacturing and other cost savings of $15.8 million and higher sales prices of $13.9 million were partially offset by higher raw material costs of $11.2 million, higher per-unit overhead costs due to lower production of $5.1 million and higher selling, general and administrative expenses of $4.2 million. Selling, general and administrative expenses for the 2010 second quarter included a gain of $3.1 million from the sale of Anvil’s Canadian distribution business.

Second Quarter Segment Results

Mueller Co.

Net sales for Mueller Co. for the 2011 second quarter of $148.9 million increased 5.5 percent from net sales for the 2010 second quarter of $141.2 million. The increase was due to higher prices of $4.4 million, higher shipment volumes of $2.4 million and favorable Canadian currency exchange rates of $0.9 million.

2 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs