BIRMINGHAM, Ala., June 26, 2001 (PRIMEZONE) -- Moore-Handley, Inc. (Nasdaq:MHCO) 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.