WASHINGTON (dpa-AFX) - Mueller Industries, Inc. (MLI) Tuesday posted higher earnings for the second quarter on 11.6 percent growth in sales year-over-year.
The company's net income rose to $35.0 million, or $0.62 per share, from $25.5 million, or $0.45 per share last year.
Earnings per share for 2013 have been adjusted to reflect a 2-for-1 stock split which was effected during the first quarter of 2014.
Net sales for the second quarter grew 11.6 percent to $649.7 million from $582.3 million a year ago.
Commenting on the outlook, Greg Christopher, CEO said: 'Despite the lack of supportive market conditions, we are pleased with how our businesses continue to improve. Although there are fluctuations in building construction metrics the overall direction seems to be improving and we anticipate the same will continue into the second half of the year.'
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