For: Moore-Handley, Inc. Contact: Carol Temple
P. O. Box 2607 (205) 663-8316
Birmingham, Alabama 35202
BIRMINGHAM, Ala., April 19, 2004 -- Moore-Handley, Inc. (Other OTC:
MHCO.PK), a Birmingham-based distributor of hardware and home center products, reported net income of $330,000 or $0.19 per diluted share for the quarter ended March 31, 2004 vs. $167,000 or $0.09 per diluted share for the same period in 2003.Sales for the quarter were $43,027,000, up 6.9% 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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2004 |
2003 |
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Sales |
$ 43,027,000 |
$ 40,265,000 |
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Operating income |
762,000 |
494,000 |
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Income before income tax |
524,000 |
265,000 |
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Net income |
$ 330,000
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$ 167,000
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Net income per share - diluted |
$ 0.19
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$ 0.09
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Weighted average diluted common |
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shares outstanding |
1,749,000
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1,911,000 |
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Balance Sheets: |
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Current assets |
$ 48,812,000 |
$ 48,980,000 |
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Other assets |
135,000 |
602,000 |
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Property & equipment, net |
8,668,000 |
8,366,000 |
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Total assets |
57,615,000 |
57,948,000 |
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Current liabilities |
21,126,000 |
21,991,000 |
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Long term debt |
22,947,000 |
21,591,000 |
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Deferred income taxes |
947,000 |
1,032,000 |
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Stockholders' equity |
12,595,000 |
13,334,000 |
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Total liabilities & stockholders' equity |
$ 57,615,000 |
$ 57,948,000 |
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End 4/19/04 |
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