FOR IMMEDIATE RELEASE

            For:     Moore-Handley, Inc.                                                      Contact:      Carol Temple

                        P. O. Box 2607                                                                                  (205) 663-8316

                        Birmingham, Alabama 35202

 

Moore-Handley Reports Results of Operations for the Quarter Ended September 30, 2007

 

BIRMINGHAM, Ala., October 17, 2007 -- Moore-Handley, Inc. (Other OTC: MHCO.PK), a Birmingham-based distributor of hardware and home center products, reported a net loss of $597,000 or $0.37 per diluted share for the quarter ended September 30, 2007 vs. net income of $225,000 or $0.14 per diluted share for the same period in 2006.

 

Sales for the quarter were $43,058,000, down 11.1% from the same quarter last year. Sales for the nine months ended September 30, 2007 were $133,050,000 or 10.9% below those in 2006. Net loss for the nine months ended September 30, 2007 was $476,000 or $0.30 per diluted share vs. net income of $865,000 or $0.52 per diluted share last year. 

 

Selected financial data follow:

Moore-Handley, Inc.

Selected Financial Data

 

                                                                       (UNAUDITED)                                                      (UNAUDITED)

 

 

 

Quarter Ended

 

Nine Months Ended

 

 

 

September 30

 

September 30

 

 

 

 

 

 

 

 

 

 


Operations:

 

 

2007

 

2006

 

2007

 

2006

 

 

 

 

 

 

 

 

 

 

Sales

 

 

 $   43,058,000 

 

 $   48,424,000

 

 $    133,050,000

 

 $   149,255,000

 

 

 

 

 

 

 

 

Operating income (loss)

          (477,000) 

 

           865,000

 

            785,000

 

          2,772,000

 

 

 

 

 

 

 

 

Interest expense

           535,000

 

           492,000

 

         1,592,000

 

          1,332,000

 

 

 

 

 

 

 

 

Income (loss) before income tax

       (1,012,000)

 

           373,000

 

            (807,000)

 

          1,440,000

 

 

 

 

 

 

 

 

 

Net income (loss)

 

 $       (597,000)

 

  $       225,000 

 

 $          (476,000)

 

 $          865,000

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share - basic

 $           (0.37)

 

    $             0.14

 

 $              (0.30)

 

 $                0.53

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share - diluted

 $           (0.37)

 

    $             0.14

 

 $              (0.30)

 

 $                0.52

 

 

  

 

 

 

 

 

Weighted average common

 

 

 

 

 

 

 

shares outstanding

 

 

 

 

 

 

 

    Basic

1,600,000

 

1,628,000

 

1,599,000

 

1,627,000

 

 

 

 

 

 

 

 

    Diluted

1,600,000

 

1,647,000

 

1,599,000

 

1,648,000

 

 

 

 

 

 

 

 

 

Balance Sheets:

 

 

 

 

 

 

 

September 30 -

 

 

2007

 

2006

 

 

 

 

Current assets

$  58,912,000

 

$  56,041,000

 

 

 

 

Other assets

                  360,000

 

                  384,000

 

 

 

 

Property & equipment, net

8,772,000

 

9,257,000

 

 

 

 

Total assets

 

 

68,044,000

 

65,682,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

23,911,000

 

25,545,000

 

 

 

 

Long term debt

 

 

29,143,000

 

24,359,000

 

 

 

 

Other liabilities

3,235,000

 

1,620,000

 

 

 

 

Stockholders’ equity

11,755,000

 

14,158,000

 

 

 

 

Total liabilities & stockholders’ equity

$  68,044,000

 

$  65,682,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

End 10/17/07