FOR IMMEDIATE RELEASE
Moore-Handley Reports Results of Operations for the Fourth Quarter and Year Ended December 31, 2005
Other OTC: MHCO.PK), a Birmingham-based distributor of hardware and home center products, reported net income of $327,000 or $0.20 per diluted share for the quarter ended December 31, 2005 vs. net income of $249,000 or $0.16 per diluted share for the same period in 2004.BIRMINGHAM, Ala., March 13, 2006 -- Moore-Handley, Inc. (
Sales for the quarter were $43,310,000, up 13.3% from the same quarter last year. Sales for the twelve months ended December 31, 2005 were $177,768,000 or 8.8% above those in 2004. Net income for the year ended December 31, 2005 was $1,070,000 or $0.66 per diluted share vs. net income $1,007,000 or $0.62 per diluted share 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) (AUDITED) |
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Quarter Ended |
Twelve Months Ended |
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December 31 |
December 31 |
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2005 |
2004 |
2005 |
2004 |
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Sales |
$ 43,310,000 |
$ 38,224,000 |
$ 177,768,000 |
$163,383,000 |
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Operating income |
880,000 |
635,000 |
3,010,000 |
2,565,000 |
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Income before income tax |
548,000 |
395,000 |
1,784,000 |
1,599,000 |
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Net income |
$ 327,000
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$ 249,000
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$ 1,070,000 |
$ 1,007,000 |
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Net income per share - basic |
$ 0.21
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$ 0.17
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$ 0.72 |
$ 0.66 |
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Net income per share - diluted |
$ 0.20
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$ 0.16 |
$ 0.66 |
$ 0.62 |
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Weighted average common |
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shares outstanding |
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Basic |
1,554,000 |
1,467,000 |
1,489,000 |
1,527,000 |
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Diluted |
1,659,000 |
1,536,000 |
1,618,000 |
1,627,000 |
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Balance Sheets: |
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December 31 - |
2005 |
2004 |
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Current assets |
$ 49,031,000 |
$ 42,323,000 |
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Other assets |
384,000 |
550,000 |
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Property & equipment, net |
9,072,000 |
9,210,000 |
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Total assets |
58,487,000 |
52,083,000 |
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Current liabilities |
21,465,000 |
18,423,000 |
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Long term debt |
22,064,000 |
19,828,000 |
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Other liabilities |
1,672,000 |
1,194,000 |
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Stockholders’ equity |
13,286,000 |
12,638,000 |
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Total liabilities & stockholders’ equity |
$ 58,487,000 |
$ 52,083,000 |
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End 3/13/06 |
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