Moore-Handley Reports Results of Operations For The Quarter Ended September 30, 2001
BIRMINGHAM, Ala., Oct. 18, 2001 (PRIMEZONE via COMTEX) -- Moore-Handley, Inc. (Nasdaq: MHCO chart, msgs), a Birmingham distributor of hardware and home center products, reported net income of 9 cents per share for the quarter ended September 30, 2001, compared to a loss of 3 cents for the same quarter last year. Nine months net income was 36 cents versus a loss of 7 cents last year. Sales for the third quarter were up slightly from $38.9 to $39.9 million. For the nine months ended September 30, sales were down slightly from 121.3 million to 119.1 million.
MOORE-HANDLEY, INC.
STATEMENTS OF OPERATIONS
(UNAUDITED)
THREE MONTHS NINE MONTHS
ENDED SEPTEMBER 30 ENDED SEPTEMBER 30
2001 2000 2001 2000
Net sales $39,858,000 $38,903,000 $119,090,000 $121,300,000
Cost of
merchandise
sold 33,613,000 32,802,000 100,184,000 101,778,000
Warehouse and
delivery
expense 2,317,000 2,450,000 6,861,000 7,652,000
----------- ----------- ----------- -----------
Cost of sales 35,930,000 35,252,000 107,045,000 109,430,000
----------- ----------- ----------- -----------
Gross profit 3,928,000 3,651,000 12,045,000 11,870,000
Selling and
administrative
expense 3,387,000 3,309,000 9,948,000 10,894,000
----------- ----------- ----------- -----------
Operating
Income 541,000 342,000 2,097,000 976,000
Interest
expense,net 301,000 437,000 1,068,000 1,195,000
----------- ----------- ----------- -----------
Income before
income tax 240,000 (95,000) 1,029,000 (219,000)
Income tax 85,000 (37,000) 369,000 (84,000)
----------- ----------- ----------- -----------
Net income $ 155,000 $ (58,000) $ 660,000 $ (135,000)
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Net income per
common share
- basic and
diluted $ 0.09 $ (0.03) $ 0.36 $ (0.07)
=========== =========== =========== ===========
Weighted average
common shares
outstanding 1,814,000 1,929,000 1,814,000 1,923,000
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SUBJECT: Earnings Releases And Operating Results KEYWORDS: EARNINGS
CONTACT: Moore-Handley, Inc., Birmingham
Donna Bridges
(205) 663-8316 |
