Adjusted income from operations for the 2012 first quarter was $5.1 million compared to adjusted income from operations for the 2011 first quarter of $8.8 million. Adjusted income from operations in Mueller Co.’s base business was down $1.7 million while adjusted loss from operations in Mueller Systems and Echologics was $2.0 million higher.In summary, the $3.7 million decline in adjusted income from operations was primarily due to higher raw material costs of $3.5 million; higher selling, general and administrative expenses of $3.0 million, the majority of which is related to both investment in Echologics, acquired in December 2010, and ongoing investment in Mueller Systems; and lower shipment volumes of $2.8 million. However, adjusted income from operations benefitted from net manufacturing and other cost savings of $3.4 million and higher sales prices of $2.4 million.
Mueller Water Products Reports Fiscal 2012 First Quarter Results
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