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 2012 Third Quarter Results

Stocks in this article: MWA

Mueller Water Products, Inc. (NYSE: MWA) today reported net sales of $275.9 million and net income of $9.8 million for the fiscal 2012 third quarter ended June 30, 2012. Summarized consolidated results from continuing operations for the 2012 third quarter compared to the 2011 third quarter results were:

  • Net sales for the 2012 third quarter increased 6.3 percent to $275.9 million from $259.6 million for the 2011 third quarter.
  • Operating income for the 2012 third quarter increased to $25.7 million from $24.7 million for the 2011 third quarter. Adjusted operating income for the 2012 third quarter increased 5.6 percent to $26.4 million from $25.0 million for the 2011 third quarter.
  • Net income per diluted share was $0.06 for the 2012 third quarter compared to ($0.02) for the 2011 third quarter.
  • Adjusted EBITDA for the 2012 third quarter increased to $41.4 million from $40.7 million for the 2011 third quarter.
  • Free cash flow for the 2012 third quarter year-to-date increased to $5.0 million from ($16.1) million for the 2011 third quarter year-to-date.
  • The Company reduced its total debt outstanding by $69.7 million to $622.8 million during the 2012 third quarter.

“Third quarter results yielded increases in net sales, adjusted operating income and adjusted EBITDA on a year-over-year basis,” said Gregory E. Hyland, chairman, president and chief executive officer of Mueller Water Products. “The data on the residential construction market is trending positive, and we believe we benefitted from the improvement in this market during the third quarter.

“Net sales in Mueller Co.’s base business increased 6.9 percent in the third quarter and adjusted operating income grew 14.0 percent, driven by increased domestic shipments of valves and hydrants. We also had a number of important wins at both Mueller Systems and Echologics. Mueller Systems announced a significant agreement with American Water, the largest publicly traded U.S. water and wastewater utility company, for water meters and automated meter reading systems; and also a notable agreement with Bentonville, Arkansas for water meters and our advanced metering infrastructure system. Echologics also recently extended its contract with the City of New Orleans to continue supplying leak detection and pipe condition assessment services. We are encouraged to see the traction these newer technology businesses are gaining in the marketplace, which is evidence of their ability to grow going forward.

1 of 6

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 16,326.66 -53.75 -0.33%
S&P 500 1,890.39 +3.63 0.19%
NASDAQ 4,277.5630 +19.1250 0.45%

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