Mueller Water Products Reports Fiscal Second Quarter 2010 Results

Mueller Water Products, Inc. reported net sales of $301.8 million and a net loss of $23.7 million for the quarter ended March 31, 2010. Net sales for the 2010 second quarter were $301.8 million, down 6.3 percent compared to $322.2 million for the 2009 second quarter. Excluding the net sales of two divested Anvil businesses, net sales for the 2010 second quarter increased 2.3 percent year-over-year.

"Our second-quarter results came in essentially as we had expected. Net sales excluding divested operations in the second quarter increased from the prior year period, the first quarter in six quarters in which net sales increased year-over-year," said Gregory E. Hyland, chairman, president and chief executive officer of Mueller Water Products. "Capacity utilization increased in all three business segments: Mueller Co., U.S. Pipe and Anvil, which is expected to benefit our financial performance in the second half of the year. Unit bookings of our core products at Mueller Co. - valves, hydrants and brass service - increased 40 percent year-over-year, and bookings on a tonnage basis at U.S. Pipe increased over 50 percent.” More…