Exhibit 99.1 MUELLER INDUSTRIES, INC. REPORTS THIRD QUARTER RESULTS MEMPHIS, Tenn., Oct. 20 /PRNewswire-FirstCall/ -- Quarterly and Year-to-Date Earnings Harvey L. Karp, Chairman of Mueller Industries, Inc. (NYSE: MLI), today announced the Company's results for the third quarter of 2005. Net income from continuing operations for the third quarter was $21.0 million, or 57 cents per diluted share, which compares with $18.8 million, or 51 cents per diluted share, for the third quarter of fiscal 2004. Net sales for the three months ended October 1, 2005 were $434.1 million, compared with net sales of $322.5 million for the third quarter of 2004. The current period includes approximately $4.8 million of interest expense (approximately 9 cents per diluted share net of tax) related primarily to the Subordinated Debentures issued in the fourth quarter of 2004. Year-to-date, the Company earned $53.4 million from continuing operations, or $1.44 per diluted share, on net sales of $1.25 billion. This compares with income from continuing operations of $63.8 million, or $1.73 per diluted share, on net sales of $1.05 billion for the first nine months of 2004. Financial and Operating Highlights Regarding the third quarter financial results, Mr. Karp said, "Mueller's financial position remains sound. - "Operating income increased to $30.2 million, reflecting increased volumes. Pounds of product shipped by our core product lines totaled 187 million in the third quarter of 2005 compared with 171 million for 2004. - "The COMEX copper price for the third quarter of 2005 averaged $1.70 per pound compared with $1.29 per pound for the third quarter of 2004 which contributed to the increase in sales. - "Our Standard Products Division posted quarterly operating income of $31.0 million, compared with $22.2 million in 2004. Standard Products Division's net sales were $322.5 million for the quarter, compared with $233.7 million for 2004. We continued to realize solid results from our copper and plastic fittings businesses. SPD's earnings were benefited by businesses acquired during the latter half of 2004. - "Operating income at Industrial Products Division was $5.7 million compared with $6.0 million for the third quarter of 2004. Net sales were $114.3 million in the third quarter of 2005 which compares with $92.6 million for 2004. Results at our brass rod mill decreased on lower spreads, partially offset by improved results in other product lines. - "We invested $12.8 million during the quarter to acquire KX Group Limited (doing business as Brassware Sales). Brassware Sales is an import distributor of plumbing and residential heating products with annual sales of approximately $48 million to plumbers' merchants and builders' merchants throughout the U.K. This acquisition will strengthen the Company's presence in the U.K. market. - "During the third quarter we settled a business interruption claim related to operations sold in 2002. This $3.3 million after-tax gain is classified as discontinued operations. We also recognized a $4.0 million pre-tax gain, classified as other income, on the sale of land and building in Cerritos, California. - "Mueller ended the quarter with $108.0 million in cash. The impact of rising copper prices on accounts receivable and inventories was readily funded with cash-on-hand. - "Our current ratio remains excellent at 2.4 to 1 and our working capital is $326.5 million. - "Capital expenditures totaled $13.4 million during the first nine months of 2005. - "Stockholders' equity has grown to $396.8 million." Business Outlook Discussing the outlook, Mr. Karp said, "Over the next twelve months we believe the housing industry will be adjusting to higher prices, higher mortgage rates, and more restrictive lending standards. This may result in a modest decline in housing starts, but overall, starts for 2006 will likely remain at the high end of historical levels. At the same time, non-housing construction activity is trending upward and this is an important sector for Mueller's business. Mueller Industries, Inc. is a leading manufacturer of copper tube and fittings; brass and copper alloy rod, bar and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings and valves; refrigeration valves and fittings; and fabricated tubular products. Mueller's operations are located throughout the United States and in Canada, Mexico, and Great Britain. Statements in this release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials and energy, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the company's SEC filings. MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (In thousands, except per share data)