Apex Trader Funding (ATF) - News
Paul Mueller Company Announces Its Second Quarter Earnings of 2024
SPRINGFIELD, Mo., July 26, 2024 (GLOBE NEWSWIRE) -- Paul Mueller Company (OTC:MUEL) (the "Company") announces its second-quarter earnings of 2024.
PAUL MUELLER COMPANY
SIX-MONTH REPORT
Unaudited
(In thousands)
CONSOLIDATED STATEMENTS OF INCOME
Three Months Ended
Six Months Ended
Twelve Months Ended
June 30
June 30
June 30
2024
2023
2024
2023
2024
2023
Net Sales
$
65,670
$
59,931
$
116,026
$
116,282
$
228,900
$
221,050
Cost of Sales
45,871
41,379
80,431
80,933
158,123
165,816
Gross Profit
$
19,799
$
18,552
$
35,595
$
35,349
$
70,777
$
55,234
Selling, General and Administrative Expense
11,417
12,714
21,775
25,301
84,743
39,675
Operating Income (Loss)
$
8,382
$
5,838
$
13,820
$
10,048
$
(13,966
)
$
15,559
Interest Income (Expense)
70
(80
)
(1,178
)
(177
)
(1,351
)
(369
)
Other Income
506
613
2,050
1,333
3,383
2,310
Income (Loss) before Provision (Benefit) for Income Taxes
$
8,958
$
6,371
$
14,692
$
11,204
$
(11,934
)
$
17,500
Provision (Benefit) for Income Taxes
2,154
1,558
3,439
2,724
(4,817
)
4,140
Net Income (Loss)
$
6,804
$
4,813
$
11,253
$
8,480
$
(7,117
)
$
13,360
Earnings (Loss) per Common Share ––
Basic and Diluted
$7.26
$4.43
$11.13
$7.81
($6.79
)
$12.31
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Six Months Ended
June 30
2024
2023
Net Income
$
11,253
$
8,480
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation Adjustment
(780
)
441
Comprehensive Income
$
10,473
$
8,921
CONSOLIDATED BALANCE SHEETS
June 30
December 31
2024
2023
Cash and Short-Term Investments
$
3,409
$
1,883
Marketable Securities
18,169
32,042
Accounts Receivable
35,662
25,166
Reserve for Doubtful Accounts
(1,141
)
Inventories (FIFO)
44,379
45,910
LIFO Reserve
(21,310
)
(21,774
)
Inventories (LIFO)
23,069
24,136
Current Net Investments in Sales-Type Leases
29
27
Other Current Assets
5,920
3,537
Current Assets
$
85,117
$
86,791
Net Property, Plant, and Equipment
44,253
42,011
Right of Use Assets
2,280
2,421
Other Assets