BIRMINGHAM, Ala., March 13, 2006 (PRIMEZONE) -- Moore-Handley, Inc. (Other OTC:MHCO), 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.
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.
Moore-Handley, Inc.
Selected Financial Data
(UNAUDITED) (AUDITED)
Quarter Ended Twelve Months Ended
December 31 December 31
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Operations: 2005 2004 2005 2004
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Sales $43,310,000 $38,224,000 $177,768,000 $163,383,000
Operating income 880,000 635,000 3,010,000 2,565,000
Income before
income tax 548,000 395,000 1,784,000 1,599,000
Net income $ 327,000 $ 249,000 $ 1,070,000 $ 1,007,000
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Net income per
share - basic $ 0.21 $ 0.17 $ 0.72 $ 0.66
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Net income per
share - diluted $ 0.20 $ 0.16 $ 0.66 $ 0.62
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Weighted average
common shares
outstanding
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:
December 31 - 2005 2004
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Current assets $49,031,000 $42,323,000
Other assets 384,000 550,000
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
Long term debt 22,064,000 19,828,000
Other liabilities 1,672,000 1,194,000
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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