For:
Moore-Handley, Inc. Contact: Carol Temple
MHCO.PK), a Birmingham-based distributor of hardware and home center products, reported net income of $307,000 or $0.19 per diluted share for the quarter ended March 31, 2006 vs. $165,000 or $0.11 per diluted share for the same period in 2005.BIRMINGHAM, Ala., April 17, 2006 -- Moore-Handley, Inc. (Other OTC:
Sales for the quarter were $52,132,000, up 17.5% from the same quarter last year.
Selected financial data follow:
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Moore-Handley, Inc. |
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Selected Financial Data |
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(UNAUDITED) |
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Quarter Ended |
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March 31 |
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2006 |
2005 |
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Sales |
$ 52,132,000 |
$ 44,349,000 |
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Operating income |
894,000 |
551,000 |
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Income before income tax |
511,000 |
274,000 |
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Net income |
$ 307,000
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$ 165,000
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Net income per share - basic |
$ 0.19
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$ 0.11 |
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Net income per share - diluted |
$ 0.19
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$ 0.11 |
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Weighted average common shares outstanding: |
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Basic |
1,626,000 |
1,467,000 |
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Diluted |
1,651,000 |
1,539,000 |
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Balance Sheets: |
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Current assets |
$ 60,373,000 |
$ 50,996,000 |
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Other assets |
384,000 |
499,000 |
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Property & equipment, net |
9,079,000 |
9,325,000 |
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Total assets |
69,836,000 |
60,820,000 |
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Current liabilities |
26,030,000 |
23,474,000 |
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Long term debt |
28,513,000 |
23,355,000 |
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Deferred income taxes & other |
1,701,000 |
1,193,000 |
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Stockholders’ equity |
13,592,000 |
12,798,000 |
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Total liabilities & stockholders’ equity |
$ 69,836,000 |
$ 60,820,000 |
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End 4/17/06 |
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