BIRMINGHAM, Ala., April 18, 2002 (PRIMEZONE) -- Moore-Handley, Inc. (Nasdaq:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $294,000 or $0.16 per share for the quarter ended March 31, 2002 vs. 250,000 or $0.14 per share for the same period in 2001.
Sales for the quarter were $39,238,000, down slightly from the same quarter last year.
Summary results of operations follows:
Moore-Handley, Inc.
Summary Statements of Operations
(UNAUDITED)
Quarter Ended
March 31
2002 2001
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Sales $39,238,000 $39,402,000
Cost of merchandise sold 33,123,000 33,012,000
Warehouse and delivery expense 2,317,000 2,297,000
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Cost of sales 35,440,000 35,309,000
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Gross profit 3,798,000 4,093,000
Selling and administrative expense 3,132,000 3,267,000
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Operating income (loss) 666,000 826,000
Interest expense, net 201,000 434,000
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Income (loss) before income tax 465,000 392,000
Income tax 171,000 142,000
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Net income (loss) $ 294,000 $ 250,000
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Net income (loss) per share $ 0.16 $ 0.14
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Weighted average common
shares outstanding 1,896,000 1,814,000
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