Wednesday July 18, 4:45 pm Eastern Time
Press Release
SOURCE: Moore-Handley
Moore-Handley Inc. Reports Results of Operations for the Quarter Ended Jan. 30, 2001
BIRMINGHAM, Ala., July 18, 2001 (PRIMEZONE) -- Moore-Handley, Inc. (Nasdaq:MHCO - news), a Birmingham distributor of hardware and home center products reported net income of 14 cents per share for the quarter ending June 30, 2001 compared to a loss of 8 cents for the same quarter last year. Six months net income was 28 cents versus a loss of 4 cents last year. Sales for the second quarter were up slightly from $38.6 to $39.8 million as compared to a decline of 9.9 percent in the first quarter.
MOORE-HANDLEY, INC.
STATEMENTS OF OPERATIONS
(UNAUDITED)
THREE MONTHS SIX MONTHS
ENDED JUNE 30 ENDED JUNE 30
----------------- ----------------
2001 2000 2001 2000
---- ---- ---- ----
Net sales $39,820,000 $38,642,000 $79,232,000 $82,397,000
Cost of
merchandise
sold 33,554,000 32,136,000 66,566,000 68,975,000
Warehouse and
delivery expense 2,248,000 2,547,000 4,549,000 5,203,000
Cost of sales 35,802,000 34,683,000 71,115,000 74,178,000
Gross profit 4,018,000 3,959,000 8,117,000 8,219,000
Selling and
administrative
expense 3,290,000 3,812,000 6,561,000 7,584,000
Operating Income 728,000 147,000 1,556,000 635,000
Interest expense,
net 333,000 385,000 767,000 758,000
Income before
income tax 395,000 (238,000) 789,000 (123,000)
Income tax 142,000 (91,000) 284,000 (47,000)
Net income $ 253,000 $ (147,000) $ 505,000 $ (76,000)
Net income per
common share -
basic and
diluted $ 0.14 $ (0.08) $ 0.28 $ (0.04)
Weighted average
common shares
outstanding 1,809,000 1,923,000 1,809,000 1,923,000
--------------------------------------------------------------------------------
CONTACT:
Donna Bridges, Birmingham
(205) 663-8316
Related Quotes
MHCO
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delayed 20 mins - disclaimer
Tuesday June 26, 2:15 pm Eastern Time
Press Release
SOURCE: Moore-Handley
Moore-Handley Board Authorizes Stock Buy-Back
BIRMINGHAM, Ala., June 26, 2001 (PRIMEZONE) -- Moore-Handley, Inc. (Nasdaq:MHCO - news) a Birmingham, Alabama distributor of hardware and home center products, announced today that its Board had authorized the repurchase by the Company of up to 300,000 shares of the Company's Common Stock in open market purchases from time to time. The authorization replaces one of last September under which the Company has purchased approximately 163,000 shares.
The Company's Chairman, William Riley, noted that the Company's unaudited earnings through May continued their strong rebound and that unaudited book value per share was just under $7 as compared to a recent market price of between $1-$1.50.
Some of the foregoing statements may constitute ``forward-looking statements.'' Such forward-looking statements are subject to various risks and uncertainties and the Company claims the privilege afforded by the safe harbor for forward-looking statements in the Private Securities Litigation Reform Act of 1995. These statements include statements as to the trend in early 2001 and any continuation thereof, and involve known and unknown risks and uncertainties, including the risk of continuing softness in economic conditions that, together with other risks and uncertainties detailed from time to time in the Company's filings with the SEC, may cause actual results or performance of the Company to be materially different from any future results or performance expressed or implied by the forward-looking statements.
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CONTACT: Moore-Handley, Inc., Birmingham
William Riley
(212) 753-1211
Friday April 20, 1:47 pm Eastern Time
Press Release
SOURCE: Moore-Handley
Moore-Handley Reports Results of Operations For The Quarter Ended March 31, 2001
BIRMINGHAM, Ala., April 20, 2001 (PRIMEZONE) -- Moore-Handley, Inc. (Nasdaq:MHCO - news), a Birmingham-based distributor of hardware and home center products, reported net income of $250,000 or $0.14 per share for the quarter ended March 31, 2001 vs. $71,000 or $0.04 per share for the same period in 2000.
The company noted that while sales remained soft in the quarter, expense reductions initiated in May 2000, which continued into 2001, along with slightly higher margins, produced a large percentage increase in net income and earnings per share.
Some of the foregoing statements may constitute ``forward-looking statements.'' Such forward-looking statements are subject to various risks and uncertainties and the Company claims the privilege afforded by the safe harbor for forward-looking statements in the Private Securities Litigation Reform Act of 1995. These statements include statements as to the trend in early 2001 and any continuation thereof and involve known and unknown risks and uncertainties, including the risk of continuing softness in economic conditions that, together with other risks and uncertainties detailed from time to time in the Company's filings with the SEC, may cause actual results or performance of the Company to be materially different from any future results or performance expressed or implied by the forward-looking statements.
Summary results of operations follows:
Moore-Handley, Inc.
Summary Statement of Operations
(in thousands, except per share data)
Quarter Ended
March 31,
--------------------
2001 2000
--------------------
Sales $39,402 $43,755
Total gross margin 6,390 6,916
Warehouse & delivery expense 2,297 2,656
------- -------
Gross profit 4,093 4,260
Selling & administrative expense 3,267 3,772
------- -------
Operating income 826 488
Interest expense, net 434 373
------- -------
Income before provision
for income tax 392 115
Income tax expense 142 44
------- -------
Net income $ 250 $ 71
======= =======
Net income per common share $ 0.14 $ 0.04
======= =======
Weighted average common
shares outstanding 1,814 1,933
======= =======
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CONTACT: Moore-Handley, Inc., Birmingham
Donna Bridges
(205) 663-8316 |
