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