MHCO shows 2 straight 14 cent quarters. Has nearly a $7 book & stock buyback is ongoing. Stock is cheap at $1.60ish.
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
SOURCE: Moore-Handle |
