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, 2005
MHCO.PK), a Birmingham-based distributor of hardware and home center products, reported net income of $320,000 or $0.21 per diluted share for the quarter ended September 30, 2005 vs. a net income of $110,000 or $0.07 per diluted share for the same period in 2004.BIRMINGHAM, Ala., October 17, 2005 -- Moore-Handley, Inc. (Other OTC:
Sales for the quarter were $48,936,000 up 12.5% from the same quarter last year. Sales for the nine months ended September 30, 2005 were $134,458,000 or 7.4% above those for the comparable period in 2004. The net income for the nine months ended September 30, 2005 was $743,000 or $0.46 per diluted share vs. net income of $758,000 or $0.46 per diluted share for the same period 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 |
Nine Months Ended |
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September 30 |
September 30 |
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2005 |
2004 |
2005 |
2004 |
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Sales |
$ 48,936,000 |
$ 43,482,000 |
$ 134,458,000 |
$ 125,159,000 |
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Operating income |
833,000 |
429,000 |
2,130,000 |
1,930,000 |
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Income before income tax |
533,000 |
175,000 |
1,236,000 |
1,204,000 |
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Net income |
$ 320,000 |
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$ 110,000 |
$ 743,000 |
$ 758,000 |
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Net income per share - basic |
$ 0.22 |
$ 0.07 |
$ 0.51 |
$ 0.49 |
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Net income per share - diluted |
$ 0.21 |
$ 0.07 |
$ 0.46 |
$ 0.46 |
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Weighted average common shares |
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outstanding: |
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Basic |
1,467,000 |
1,467,000 |
1,467,000 |
1,547,000 |
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Diluted |
1,560,000 |
1,520,000 |
1,631,000 |
1,634,000 |
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Balance Sheets: |
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September 30 - |
2005 |
2004 |
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Current assets |
$ 53,474,000 |
$ 48,692,000 |
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Other assets |
512,000 |
715,000 |
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Property & equipment, net |
9,310,000 |
8,793,000 |
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Total assets |
63,296,000 |
58,200,000 |
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Current liabilities |
26,702,000 |
21,664,000 |
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Long term debt |
22,021,000 |
23,169,000 |
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Deferred income taxes |
1,193,000 |
947,000 |
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Stockholders’ equity |
13,380,000 |
12,420,000 |
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Total liabilities & stockholders’ equity |
$ 63,296,000 |
$ 58,200,000 |
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End 10/17/05 |
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