Moore-Handley Reports Results of Operations for the Quarter Ended September 30, 2000


BIRMINGHAM, Ala., Oct. 24, 2000 (PRIMEZONE) -- Moore-Handley, Inc. (Nasdaq:MHCO) a Birmingham, Alabama distributor of hardware and home center products, announced a net loss of three cents per share in the quarter ended September 30, 2000 versus a loss of two cents in the same quarter last year. Nine month results were a loss of seven cents versus six cents last year. The Company noted that the essentially flat bottom-line results for the quarter and nine months were achieved despite sharply lower sales, attributed to higher interest rates, tighter credit and lower housing sales, as well as a decision to discontinue selling about 300 unprofitable dealers.

The Company noted that a change in the method of estimating vendor allowances, described more fully in the Company's Form 10-Q, increased 2000 reported third quarter pretax income by approximately $244,000 and reduced reported pretax income approximately $265,000 for the first six months of 2000. The effect of the change was to reduce the net loss per share by $.08 for the third quarter of 2000 and increase the net loss by $(.09) for the first six months of 2000. This change in accounting estimate has no impact on annual reporting.


                    Summary Statement of Operations
                (in thousands, except per share data)

                             Quarter Ended         Nine Months Ended
                              September 30            September 30
                            ----------------       -----------------
                            2000        1999       2000         1999
                            ----        ----       ----         ----

 Sales                  $  38,903   $  43,566   $ 121,300   $ 130,933
 Total gross margin         6,101       6,932      19,522      20,215
 Warehouse & delivery
  expense                   2,450       2,802       7,652       8,350
                        ---------   ---------   ---------   ---------
   Gross profit             3,651       4,130      11,870      11,865
 
 Selling & administrative
  expense                   3,309       3,821      10,894      11,021
                        ---------   ---------   ---------   ---------
   Operating income           342         309         976         844
 Interest expense             437         378       1,195       1,014
                        ---------   ---------   ---------   ---------
 Loss before provision
  for income tax benefit      (95)        (69)       (219)       (170)
 Income tax (benefit)         (37)        (27)        (84)        (64)
                        ---------   ---------   ---------   ---------
   Net  (loss)          $     (58)  $     (42)  $    (135)  $    (106)
                        =========   =========   =========   =========
   Net (loss) per share $    (.03)  $    (.02)  $    (.07)  $    (.06)
                        =========   =========   =========   =========
 Weighted average common
  shares outstanding        1,929       1,876       1,923       1,876


            

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