SPRINGFIELD, Mo., April 26, 2024 (GLOBE NEWSWIRE) -- Paul Mueller Company (OTC:MUEL) today announced earnings for the quarter ended March 31, 2024. PAUL MUELLER COMPANY THREE-MONTH REPORT (In thousands)                   CONSOLIDATED STATEMENTS OF INCOME                       Three Months Ended   Twelve Months Ended     March 31   March 31     2024   2023   2024   2023                   Net Sales   $ 50,356   $ 56,351   $ 223,161   $ 207,096 Cost of Sales   34,560   39,554   153,631   159,979 Gross Profit   $ 15,796   $ 16,797   $ 69,530   $ 47,117 Selling, General and Administrative Expense 10,358   12,587   86,040   37,358 Operating Income (Loss)   $ 5,438   $ 4,210   $ (16,510)   $ 9,759 Interest Expense   (1,248)   (97)   (1,501)   (406) Other Income   1,544   720   3,491   1,571 Income (Loss) before Provision (Benefit) for Income Taxes $ 5,734   $ 4,833   $ (14,520)   $ 10,924 Provision (Benefit) for Income Taxes   1,285   1,166   (5,413)   2,526 Net Income (Loss)   $ 4,449   $ 3,667   $ (9,107)   $ 8,398                   Earnings (Loss) per Common Share –– Basic and Diluted $4.10   $3.38   $(8.39)   $7.74                   CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME                                   Three Months Ended               March 31               2024   2023                     Net Income           $ 4,449   $ 3,667 Other Comprehensive Income (Loss), Net of Tax:             Foreign Currency Translation Adjustment       (239)   164 Comprehensive Income       $ 4,210   $ 3,831                     CONSOLIDATED BALANCE SHEETS                                   March 31   December 31               2024   2023                     Cash             $ 5,644   $ 1,883 Marketable Securities           31,687   32,042 Accounts Receivable           25,209   25,166 Inventories (FIFO)           47,689   45,910 LIFO Reserve             (21,557)   (21,774) Inventories (LIFO)           26,132   24,136 Current Net Investments in Sales-Type Leases       28   27 Other Current Assets           7,344   3,537 Current Assets   $ 96,044   $ 86,791                     Net Property, Plant, and Equipment   42,854   42,011 Right of Use Assets           2,322   2,421 Other Assets   2,372   2,590 Long-Term Net Investments in Sales-Type Leases       480   456 Total Assets   $ 144,072   $ 134,269                     Accounts Payable           $ 11,993   $ 11,041 Current Maturities and Short-Term debt           632   640 Current Lease Liabilities           364   402