This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Mueller Water Products Reports Fiscal 2014 First Quarter Results

Stocks in this article: MWA

Mueller Water Products, Inc. (NYSE: MWA) today reported net sales of $257.4 million and net income of $1.1 million for the fiscal 2014 first quarter ended December 31, 2013. The following compares fiscal 2014 first quarter results from continuing operations with those of the prior year period. In the 2014 first quarter, the Company:

  • Increased net sales $12.3 million to $257.4 million from $245.1 million,
  • Improved operating income 103 percent to $14.0 million from $6.9 million and adjusted operating income 86 percent to $14.1 million from $7.6 million,
  • Increased net income per diluted share to $0.01 from a loss of $0.03 and increased adjusted net income per diluted share to $0.01 from a loss of $0.02, and
  • Improved adjusted EBITDA 29 percent to $28.8 million from $22.4 million.

“Mueller Co. increased net sales 9.2 percent in the first quarter, with growth across most product lines, especially valves and brass products,” said Gregory E. Hyland, chairman, president and chief executive officer of Mueller Water Products. “This increase was achieved despite a decline in domestic hydrant sales volume of about 13% due to some of our distributors and end users delaying orders as they sought further clarity regarding the applicability of the Reduction of Lead in Drinking Water Act to fire hydrants. Legislation was passed in late December specifically exempting fire hydrants from the Act. Consequently, we believe the decline in hydrant sales was only a timing issue, and we expect to see year-over-year domestic sales volume improve in subsequent quarters.

“We are pleased with the year-over-year operating income improvement at Mueller Co. Adjusted operating income improved 82 percent, and adjusted operating margin improved 390 basis points to 9.7 percent. In addition, net sales of Mueller Co.'s newer technology products and services grew about 12 percent this quarter compared with last year.

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!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

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