-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MhOIUQwd9wxGSRuCgrV03ByT4wGFTCrVBBrRXDG+nIBJ8pS8etbWqmNt/E4Q2m5K H34Zz2yR8Jb7xtKcBhAmwA== 0000089439-98-000005.txt : 19980424 0000089439-98-000005.hdr.sgml : 19980424 ACCESSION NUMBER: 0000089439-98-000005 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 19980328 FILED AS OF DATE: 19980423 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: MUELLER INDUSTRIES INC CENTRAL INDEX KEY: 0000089439 STANDARD INDUSTRIAL CLASSIFICATION: ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS [3350] IRS NUMBER: 250790410 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 001-06770 FILM NUMBER: 98599584 BUSINESS ADDRESS: STREET 1: 6799 GREAT OAKS ROAD STREET 2: SUITE 200 CITY: MEMPHIS STATE: TN ZIP: 38138-2572 BUSINESS PHONE: (901)753-3200 MAIL ADDRESS: STREET 1: 6799 GREAT OAKS ROAD STREET 2: P.O. BOX 382100 CITY: MEMPHIS STATE: TN ZIP: 38138-2100 FORMER COMPANY: FORMER CONFORMED NAME: SHARON STEEL CORP DATE OF NAME CHANGE: 19910103 10-Q 1 FORM 10-Q FOR THE FISCAL QUARTER ENDED MARCH 28, 1998 1998 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal quarter ended March 28, 1998 Commission file number 1-6770 MUELLER INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Delaware 25-0790410 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) 6799 Great Oaks Road, Suite 200 Memphis, Tennessee 38138 (Address of principal executive offices) Registrant's telephone number, including area code: (901) 753-3200 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange Title of each class on which registered Common Stock, $ 0.01 Par Value New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by a check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes /X/ No / / The number of shares of the Registrant's common stock outstanding as of April 21, 1998, was 17,579,437. -1- MUELLER INDUSTRIES, INC. FORM 10-Q For the Period Ended March 28, 1998 INDEX Part I. Financial Information Page Item 1. Financial Statements (Unaudited) a.) Consolidated Statements of Income for the quarters ended March 28, 1998 and March 29, 1997 3 b.) Consolidated Balance Sheets as of March 28, 1998 and December 27, 1997 4 c.) Consolidated Statements of Cash Flows for the quarters ended March 28, 1998 and March 29, 1997 6 d.) Notes to Consolidated Financial Statements 7 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 8 Part II. Other Information Item 6. Exhibits and Reports on Form 8-K 10 Signatures 11 -2- PART I. FINANCIAL INFORMATION Item 1. Financial Statements MUELLER INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands, except per share data)
For the Quarter Ended March 28, 1998 March 29, 1997 Net sales $ 226,652 $ 201,366 Cost of goods sold 175,457 155,784 ---------- ---------- Gross profit 51,195 45,582 Depreciation and amortization 5,584 4,832 Selling, general, and administrative expense 17,842 15,496 ---------- ---------- Operating income 27,769 25,254 Interest expense (1,352) (1,178) Environmental reserves (600) (2,000) Other income, net 2,723 1,030 ---------- ---------- Income before income taxes 28,540 23,106 Current income tax expense (8,533) (6,728) Deferred income tax expense (742) (620) ---------- ---------- Total income tax expense (9,275) (7,348) ---------- ---------- Net income $ 19,265 $ 15,758 ========== ========== Weighted average shares for basic earnings per share 17,550 17,473 Effect of dilutive stock options 2,223 2,119 ---------- ---------- Adjusted weighted average shares for diluted earnings per share 19,773 19,592 ---------- ---------- Basic earnings per share $ 1.10 $ 0.90 ========== ========== Diluted earnings per share $ 0.97 $ 0.80 ========== ========== See accompanying notes to consolidated financial statements.
-3- MUELLER INDUSTRIES, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands)
March 28, 1998 December 27, 1997 Assets Current assets: Cash and cash equivalents $ 76,082 $ 69,978 Accounts receivable, less allowance for doubtful accounts of $3,331 in 1998 and $3,680 in 1997 143,648 128,902 Inventories: Raw material and supplies 15,144 19,960 Work-in-process 21,105 20,283 Finished goods 56,938 57,531 Gold 437 407 ---------- ---------- Total inventories 93,624 98,181 Current deferred income taxes 5,075 5,023 Other current assets 8,683 6,967 ---------- ---------- Total current assets 327,112 309,051 Property, plant and equipment, net 269,186 260,364 Deferred income taxes 6,960 7,837 Other assets 33,105 33,524 ---------- ---------- $ 636,363 $ 610,776 ========== ========== See accompanying notes to consolidated financial statements.
-4- MUELLER INDUSTRIES, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share data)
March 28, 1998 December 27, 1997 Liabilities and Stockholders' Equity Current liabilities: Current portion of long-term debt $ 18,234 $ 18,980 Accounts payable 32,732 30,530 Accrued wages and other employee costs 18,320 21,095 Other current liabilities 39,580 29,952 ---------- ---------- Total current liabilities 108,866 100,557 Long-term debt 49,508 53,113 Pension and postretirement liabilities 14,613 14,222 Environmental reserves 10,562 10,368 Deferred income taxes 1,957 2,040 Other noncurrent liabilities 12,505 11,745 ---------- ---------- Total liabilities 198,011 192,045 ---------- ---------- Minority interest in subsidiaries 946 691 Stockholders' equity: Preferred stock - shares authorized 4,985,000; none outstanding - - Series A junior participating preferred stock - $1.00 par value; shares authorized 15,000; none outstanding - - Common stock - $.01 par value; shares authorized 50,000,000; issued 20,000,000; outstanding 17,575,937 in 1998 and 17,508,708 in 1997 200 200 Additional paid-in capital, common 253,830 253,928 Retained earnings (Since January 1, 1991) 217,018 197,753 Cumulative translation adjustment (3,842) (3,232) Treasury common stock, at cost (29,800) (30,609) ---------- ---------- Total stockholders' equity 437,406 418,040 Commitments and contingencies (Note 2) - - ---------- ---------- $ 636,363 $ 610,776 ========== ========== See accompanying notes to consolidated financial statements.
-5- MUELLER INDUSTRIES, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands)
For the Quarter Ended March 28, 1998 March 29, 1997 Cash flows from operating activities Net income $ 19,265 $ 15,758 Reconciliation of net income to net cash provided by operating activities: Depreciation and amortization 5,584 4,832 Minority interest in subsidiaries 255 - Deferred income taxes 742 620 (Gain) loss on disposal of properties (1,418) 116 Changes in assets and liabilities: Receivables (15,193) (23,566) Inventories 4,433 1,484 Other assets (3,520) (3,622) Current liabilities 9,217 7,879 Other liabilities 1,633 1,173 Other, net (105) (153) ---------- ---------- Net cash provided by operating activities 20,893 4,521 ---------- ---------- Cash flows from investing activities Businesses acquired - (27,855) Capital expenditures (14,570) (5,019) Proceeds from sales of properties 1,480 590 Escrowed IRB proceeds 1,877 - ---------- ---------- Net cash used in investing activities (11,213) (32,284) ---------- ---------- Cash flows from financing activities Repayments of long-term debt (4,347) (2,573) Proceeds from sale of treasury stock 711 569 ---------- ---------- Net cash used in financing activities (3,636) (2,004) ---------- ---------- Effect of exchange rate changes on cash 60 - ---------- ---------- Increase (decrease) in cash and cash equivalents 6,104 (29,767) Cash and cash equivalents at the beginning of the period 69,978 96,956 ---------- ---------- Cash and cash equivalents at the end of the period $ 76,082 $ 67,189 ========== ========== See accompanying notes to consolidated financial statements.
-6- MUELLER INDUSTRIES, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) General Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. Results of operations for the interim periods presented are not necessarily indicative of results which may be expected for any other interim period or for the year as a whole. This quarterly report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K, including the annual financial statements incorporated therein by reference. The accompanying unaudited interim financial statements include all adjustments which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. Note 1 - Earnings Per Common Share Basic per share amounts have been computed based on the average number of common shares outstanding. Diluted per share amounts reflect the increase in average common shares outstanding that would result from the assumed exercise of outstanding stock options, computed using the treasury stock method. Note 2 - Commitments and Contingencies The Company is subject to normal environmental standards imposed by federal, state, local and foreign environmental laws and regulations. Based upon information currently available, management believes that the outcome of pending environmental matters will not materially affect the overall financial position and results of operations of the Company. In addition, the Company is involved in certain litigation as either plaintiff or defendant as a result of claims that arise in the ordinary course of business which management believes will not have a material effect on the Company's financial condition. Note 3 - Comprehensive Income During 1997, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards No. 130, Reporting Comprehensive Income (SFAS No. 130). The Company adopted this Statement as of the beginning of 1998. SFAS No. 130 established new rules for the reporting and display of comprehensive income and its components; however, the adoption of this Statement had no impact on the Company's net income or stockholders' equity. SFAS No. 130 requires foreign currency translation adjustments, which prior to adoption were reported separately in stockholders' equity, to be included in other comprehensive income. Total comprehensive income was $18,655,000 and $15,501,000 for the quarters ending March 28, 1998, and March 29, 1997, respectively. -7- Note 4 - Subsequent Event On April 14, 1998, the Company's Board of Directors declared a two- for-one stock split to be effected in the form of a 100 percent stock dividend. Stockholders of record on May 12, 1998, will receive one additional share of common stock for each share of the Company's common stock held on that date. Earnings per share presented elsewhere herein have not been adjusted to reflect this stock split. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations General Overview The Company's principal business is the manufacture and sale of copper tube, brass rod, copper and plastic fittings, forgings, valves, and other products made of copper, brass, bronze, plastic and aluminum. New housing starts and commercial construction are important determinants of the Company's sales to the air-conditioning, refrigeration, and plumbing markets because the principal end use of a significant portion of the Company's products is in the construction of single and multi-family housing and commercial buildings. The Company's product is sold to wholesalers in the plumbing, air-conditioning and refrigeration markets and to OEMs in these and other markets. Mueller's plants are located throughout the United States and in Canada, France and Great Britain. The Company also owns a short line railroad in Utah and natural resource properties in the Western U.S. Profitability of certain of the Company's product lines depends upon the "spreads" between the cost of metal and the selling prices of its completed products. The open market price for copper cathode, for example, directly influences the selling price of copper tubing, a principal product manufactured by the Company. The Company attempts to minimize the effects of changes in copper prices by passing base metal costs through to its customers as metal prices fluctuate. "Spreads" fluctuate based upon competitive market conditions. During 1997, the Company acquired two European copper tube manufacturers. Wednesbury Tube is located in Bilston, England, and Desnoyers S.A. is located near Paris, France. These acquisitions give the Company a major manufacturing and sales presence in Europe. The Company uses the LIFO method to value the copper component of certain of its copper tube and fittings inventories in the United States. The market price of copper also indirectly affects the carrying value (FIFO basis) of the Company's brass and other metal inventories. Results of Operations Net income was $19.3 million, or 97 cents per diluted share, for the first quarter of 1998, which compares with net income of $15.8 million, or 80 cents per diluted share, for the same period of 1997. -8- During the first quarter of 1998, the Company's net sales were $226.7 million, which compares to net sales of $201.4 million, or a 13 percent increase over the same period of 1997. Pounds shipped totaled 156.1 million, an increase of 25 percent. Of this increase, 83 percent was attributable to acquired businesses. Pounds shipped grew by a larger percent than sales dollars because the price of copper was lower in the first quarter of 1998 than in the same period of 1997. First quarter operating income increased primarily due to: (i) higher sales volumes particularly at brass rod and plastics; (ii) productivity improvements at certain manufacturing plants; and (iii) spread improvements in certain product lines, primarily copper tube and copper fittings. Selling, general, and administrative expense increased primarily due to acquired businesses. Interest expense in the first quarter of 1998 totaled $1.4 million, which was $0.2 million greater than the first quarter of 1997. The Company capitalized $0.1 million of interest related to capital improvement programs in the first quarter of 1998 compared to none in the first quarter of 1997. Total interest in the first quarter of 1998 increased due to the increase in long-term debt following the issuance of Industrial Development Revenue Bonds in the third quarter of 1997, partially offset by scheduled reductions in other long-term debt. The provision for environmental reserves of $0.6 million in the first quarter of 1998 was based on updated information and results of ongoing environmental remediation at a previously identified environmental site, U.S.S. Lead Refinery, Inc. The effective tax rate of 32.5 percent in the first quarter of 1998 reflects the benefit of a lower federal provision relating to the recognition of net operating loss carryforwards and a lower state provision associated with incentive IRB financings. Liquidity and Capital Resources Cash provided by operating activities in the first quarter of 1998 totaled $20.9 million which is primarily attributable to net income, depreciation and amortization, and increased current liabilities, offset by increased receivables. During the first quarter of 1998, the Company used $11.2 million for investing activities, consisting primarily of $14.6 million for capital expenditures. Existing cash balances, cash from operations, plus escrowed IRB proceeds were used to fund the first quarter investing activities. The Company has a $100.0 million unsecured line-of-credit agreement (the Credit Facility) which expires in May 2001, but which may be extended for successive one year periods by agreement of the parties. Borrowings under the Credit Facility bear interest, at the Company's option, at (i) prime rate less .50 percent, (ii) LIBOR plus .27 percent, or (iii) Federal Funds Rate plus .65 percent. There are no outstanding borrowings under the Credit Facility. At March 28, 1998, funds available under the Credit Facility was reduced by $4.9 million for outstanding letters of credit. At March 28, 1998, the Company's total debt was $67.7 million or 13.4 percent of its total capitalization. -9- The Company's financing obligations contain various covenants which require, among other things, the maintenance of minimum levels of working capital, tangible net worth, and debt service coverage ratios. The Company is in compliance with all debt covenants. Management believes that cash provided by operations and currently available cash of $76.1 million will be adequate to meet the Company's normal future capital expenditure and operational needs. Additionally, certain capital improvements are being funded with escrowed IRB proceeds. The Company's current ratio remains strong at 3.0 to 1. The Company has approved a $25.3 million capital improvement project at its Fulton copper tube mill to improve the utilization of scrap metal and enhance the mill's refining processes. This project is also expected to improve yield and productivity and increase casting capacity. Moreover, the project, when completed in early 1999, will allow the Fulton tube mill to use more scrap copper when market conditions warrant. Another important ongoing program is the modernization of the Company's copper fittings plant in Covington, Tennessee. Modernization of this facility, which produces a broad range of low-volume copper fittings, is estimated to require approximately $7.3 million in capital improvements and will be completed in 1999. This project, when completed, will also increase output and improve efficiency. Mueller also has programs underway to make near-term improvements at its European operations. Further, the Company is also considering various long-term capital investments for these businesses which will further improve their cost structure and productivity. Part II. OTHER INFORMATION Item 6. Exhibits and Reports on Form 8-K (a) Exhibits 19.1 Mueller Industries, Inc.'s Quarterly Report to Stockholders for the quarter ended March 28, 1998. Such report is being furnished for the information of the Securities and Exchange Commission only and is not to be deemed filed as part of this Quarterly Report on Form 10-Q. (b) During the quarter ended March 28, 1998, the Registrant filed no Current Reports on Form 8-K. Items 1, 2, 3, 4, and 5 are not applicable and have been omitted. -10- SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on April 23, 1998. MUELLER INDUSTRIES, INC. /S/ EARL W. BUNKERS Earl W. Bunkers, Executive Vice President and Chief Financial Officer /S/ KENT A. MCKEE Kent A. McKee Vice President Business Development/ Investor Relations /S/ RICHARD W. CORMAN Richard W. Corman Director of Corporate Accounting -11- EX-19.1 2 EXHIBIT 19.1 QUARTERLY REPORT TO STOCKHOLDERS TO OUR STOCKHOLDERS, CUSTOMERS AND EMPLOYEES We are pleased to report that Mueller's earnings rose 22 percent for the first quarter of 1998 compared with the same quarter of 1997. Net sales, pounds shipped, and operating income all posted double digit gains, resulting in the best first quarter in Mueller's history. Net earnings were $19.3 million, or 97 cents per diluted share, compared to $15.8 million, or 80 cents per diluted share, for the first quarter of 1997. Net sales for the first quarter were $226.7 million, an increase of 13 percent over sales of $201.4 million during the same quarter of 1997. Pounds shipped totaled 156.1 million, an increase of 25 percent. Of this increase, 83 percent was attributable to acquired businesses. Pounds shipped grew by a larger percent than sales dollars because the price of copper was lower in the first quarter of 1998 than in the same period of 1997. Improvement in margins in our U.S. copper tube business was of particular importance in achieving record first quarter earnings. Earnings at our copper fittings operations also rose; however volume was down slightly. Brass rod turned in a star performance in both sales and profit. Our DWV plastics business also generated good earnings on excellent volume. We are making investments to improve our European copper tube operations. Progress was made during the first quarter, and we are optimistic that, over time, these operations will become a significant contributor to Mueller's earnings. In 1997, Mueller spent $36.9 million on capital improvement programs. In 1998, we expect to spend or commit in excess of $50 million for capital projects. We believe these projects will enable Mueller to further reduce costs and better serve our customers. U.S. economic conditions continue to be excellent for our business. Housing starts are running at an annualized rate of more than 1.6 million units for the first time in 10 years. Likewise, permits for new construction are the highest they have been since 1986. The supply of unsold new homes on the market is less than four months, the smallest inventory in two decades. Conventional 30-year mortgage rates are low, just above 7 percent. Inflation and unemployment are modest. Consumer confidence is high. Overall, the outlook for the balance of 1998 is promising. On April 14, 1998 Mueller's Board of Directors declared a two-for-one stock split to be effected in the form of a 100 percent stock dividend. Stockholders of record on May 12, 1998 will receive one additional share of common stock for each share of the Company's common stock held on that date. -1- Our Annual Shareholders' Meeting will be held in Memphis, Tennessee on May 7, 1998. You should have already received the notice of the meeting, as well as proxy material and the 1997 Annual Report. We hope you can attend, but if you cannot, we urge you to sign and return your proxy card. Sincerely, Harvey L. Karp Chairman of the Board William D. O'Hagan President and Chief Executive Officer April 16, 1998 -2- Historical Analysis (1994-1998) of Quarterly Earnings Before Tax and Earnings Per Share Mueller's earnings have grown substantially over the past four years. In the first quarter of 1998, our Company earned $28.5 million before tax, compared with $6.7 million for the same quarter of 1994, an increase of 325 percent. Diluted earnings per share have risen 385 percent, from $0.20 to $0.97. [GRAPH] First Quarter Diluted Earnings Per Share 1994 $0.20 1995 0.53 1996 0.69 1997 0.80 1998 0.97 A similar progression is evident in each of the quarters from 1994 to the present: Earnings Before Tax (millions)
Quarter ------------------------------------------------ Total 1st 2nd 3rd 4th Year 1994 $ 6.7 $ 9.1 $ 12.0 $ 13.0 $ 40.8 1995 14.7 15.6 17.0 17.2 64.5 1996 19.3 20.1 23.4 25.6 88.4 1997 23.1 23.6 25.8 28.3 100.8 1998 28.5
Diluted Earnings Per Share
Quarter ------------------------------------------------ Total 1st 2nd 3rd 4th Year 1994 $ 0.20 $ 0.28 $ 0.45 $ 0.50 $ 1.41 1995 0.53 0.56 0.60 0.65 2.34 1996 0.69 0.71 0.83 0.91 3.14 1997 0.80 0.83 0.92 1.00 3.56 1998 0.97
-3- MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands, except per share data)
For the Quarter Ended March 28,1998 March 29,1997 Net sales $ 226,652 $ 201,366 Cost of goods sold 175,457 155,784 Depreciation and amortization 5,584 4,832 Selling, general, and administrative expense 17,842 15,496 ---------- ---------- Operating income 27,769 25,254 Interest expense (1,352) (1,178) Environmental reserves (600) (2,000) Other income, net 2,723 1,030 ---------- ---------- Income before taxes 28,540 23,106 Income tax expense (9,275) (7,348) ---------- ---------- Net income $ 19,265 $ 15,758 ========== ========== Earnings per share: Basic: Weighted average shares outstanding 17,550 17,473 ========== ========== Basic earnings per share $ 1.10 $ 0.90 ========== ========== Diluted: Weighted average shares outstanding 19,773 19,592 ========== ========== Diluted earnings per share $ 0.97 $ 0.80 ========== ==========
-4- MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands)
March 28,1998 Dec. 27, 1997 ASSETS Cash and cash equivalents $ 76,082 $ 69,978 Accounts receivable, net 143,648 128,902 Inventories 93,624 98,181 Other current assets 13,758 11,990 ---------- ---------- Total current assets 327,112 309,051 Property, plant and equipment, net 269,186 260,364 Other assets 40,065 41,361 ---------- ---------- $ 636,363 $ 610,776 ========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY Current portion of long-term debt $ 18,234 $ 18,980 Accounts payable 32,732 30,530 Other current liabilities 57,900 51,047 ---------- ---------- Total current liabilities 108,866 100,557 Long-term debt 49,508 53,113 Other noncurrent liabilities 39,637 38,375 ---------- ---------- Total liabilities 198,011 192,045 Minority interest in subsidiaries 946 691 Stockholders' equity 437,406 418,040 ---------- ---------- $ 636,363 $ 610,776 ========== ========== -5-
EX-27.1 3 EXHIBIT 27.1 ARTICLE 5 FINANCIAL DATA SCHEDULES
5 THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S FORM 10-Q FOR THE FISCAL QUARTER ENDED MARCH 28, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 0000089439 MUELLER INDUSTRIES, INC. 1,000 3-MOS DEC-26-1998 MAR-28-1998 76,082 0 146,979 3,331 93,624 327,112 363,860 94,674 636,363 108,866 49,508 0 0 200 437,206 636,363 226,652 226,652 175,457 175,457 23,426 0 1,352 28,540 9,275 19,265 0 0 0 19,265 1.10 0.97 EX-27.2 4 EXHIBIT 27.2 ARTICLE 5 FINANCIAL DATA SCHEDULES
5 THIS RESTATED FINANCIAL DATA SCHEDULE, IN ACCORDANCE WITH SFAS NO. 128 (EARNINGS PER SHARE), CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED DECEMBER 30, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 0000089439 MUELLER INDUSTRIES, INC. 1,000 YEAR DEC-30-1995 DEC-30-1995 48,357 0 86,698 2,986 66,360 211,038 275,301 54,289 450,835 67,884 59,653 0 0 200 285,675 450,835 678,838 678,838 549,884 549,884 64,943 0 4,168 64,549 19,726 44,823 0 0 0 44,823 2.59 2.34 EX-27.3 5 EXHIBIT 27.3 ARTICLE 5 FINANCIAL DATA SCHEDULES
5 THIS RESTATED FINANCIAL DATA SCHEDULE, IN ACCORDANCE WITH SFAS NO. 128 (EARNINGS PER SHARE), CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL PERIOD ENDED MARCH 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 0000089439 MUELLER INDUSTRIES, INC. 1,000 3-MOS DEC-28-1996 MAR-30-1996 45,471 0 102,349 3,021 64,731 224,710 282,522 58,406 467,178 75,819 55,792 0 0 200 299,151 467,178 180,515 180,515 143,532 143,532 18,354 0 1,240 19,269 5,977 13,292 0 0 0 13,292 0.77 0.69 EX-27.4 6 EXHIBIT 27.4 ARTICLE 5 FINANCIAL DATA SCHEDULES
5 THIS RESTATED FINANCIAL DATA SCHEDULE, IN ACCORDANCE WITH SFAS NO. 128 (EARNINGS PER SHARE), CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL PERIOD ENDED JUNE 29, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 0000089439 MUELLER INDUSTRIES, INC. 1,000 6-MOS DEC-28-1996 JUN-29-1996 52,804 0 110,039 2,821 68,379 244,357 286,275 62,576 484,140 82,116 52,900 0 0 200 313,104 484,140 370,072 370,072 293,068 293,068 37,844 0 2,713 39,387 12,198 27,189 0 0 0 27,189 1.57 1.40 EX-27.5 7 EXHIBIT 27.5 ARTICLE 5 FINANCIAL DATA SCHEDULES
5 THIS RESTATED FINANCIAL DATA SCHEDULE, IN ACCORDANCE WITH SFAS NO. 128 (EARNINGS PER SHARE), CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL PERIOD ENDED SEPTEMBER 28, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 0000089439 MUELLER INDUSTRIES, INC. 1,000 9-MOS DEC-28-1996 SEP-28-1996 77,528 0 107,312 2,844 69,692 264,570 287,834 66,663 502,422 82,335 51,327 0 0 200 330,301 502,422 546,063 546,063 426,272 426,272 55,350 0 4,113 62,747 19,376 43,371 0 0 0 43,371 2.49 2.23 EX-27.6 8 EXHIBIT 27.6 ARTICLE 5 FINANCIAL DATA SCHEDULES
5 THIS RESTATED FINANCIAL DATA SCHEDULE, IN ACCORDANCE WITH SFAS NO. 128 (EARNINGS PER SHARE), CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED DECEMBER 28, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 0000089439 MUELLER INDUSTRIES, INC. 1,000 YEAR DEC-28-1996 DEC-28-1996 96,956 0 92,093 3,188 76,647 274,712 290,763 70,908 509,357 78,956 44,806 0 0 200 347,882 509,357 718,312 718,312 554,570 554,570 73,280 0 5,346 88,412 27,239 61,173 0 0 0 61,173 3.52 3.14 EX-27.7 9 EXHIBIT 27.7 ARTICLE 5 FINANCIAL DATA SCHEDULES
5 THIS RESTATED FINANCIAL DATA SCHEDULE, IN ACCORDANCE WITH SFAS NO. 128 (EARNINGS PER SHARE), CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL PERIOD ENDED MARCH 29, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 0000089439 MUELLER INDUSTRIES, INC. 1,000 3-MOS DEC-27-1997 MAR-29-1997 67,189 0 118,655 3,210 89,603 287,333 307,815 75,475 535,738 88,739 42,193 0 0 200 363,952 535,738 201,366 201,366 155,784 155,784 20,328 0 1,178 23,106 7,348 15,758 0 0 0 15,758 0.90 0.80 EX-27.8 10 EXHIBIT 27.8 ARTICLE 5 FINANCIAL DATA SCHEDULES
5 THIS RESTATED FINANCIAL DATA SCHEDULE, IN ACCORDANCE WITH SFAS NO. 128 (EARNINGS PER SHARE), CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL PERIOD ENDED JUNE 28, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 0000089439 MUELLER INDUSTRIES, INC. 1,000 6-MOS DEC-27-1997 JUN-28-1997 36,439 0 122,248 3,223 101,315 273,292 320,428 80,133 548,780 88,667 39,335 0 0 200 380,737 548,780 416,803 416,803 328,469 328,469 40,546 0 2,296 46,688 14,591 32,097 0 0 0 32,097 1.84 1.64 EX-27.9 11 EXHIBIT 27.9 ARTICLE 5 FINANCIAL DATA SCHEDULES
5 THIS RESTATED FINANCIAL DATA SCHEDULE, IN ACCORDANCE WITH SFAS NO. 128 (EARNINGS PER SHARE), CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE COMPANY'S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FISCAL PERIOD ENDED SEPTEMBER 27, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS 0000089439 MUELLER INDUSTRIES, INC. 1,000 9-MOS DEC-27-1997 SEP-27-1997 44,333 0 142,483 3,229 113,162 310,132 352,417 96,026 609,643 109,382 61,094 0 0 200 396,986 609,643 645,936 645,936 509,845 509,845 61,259 0 4,114 72,475 22,327 50,148 0 0 0 50,148 2.87 2.56 -----END PRIVACY-ENHANCED MESSAGE-----