Moore-Handley, Inc. Reports Operating Results for the Quarter Ended March 31, 2003


BIRMINGHAM, Ala., May 1, 2003 (PRIMEZONE) -- Moore-Handley, Inc. (Nasdaq:MHCO), a Birmingham, AL distributor of hardware and home center products, reported net income of 9 cents per diluted share for the quarter ended March 31, 2003 compared to net income of 16 cents per diluted share for the same quarter last year.

Sales of $40.2 million were up $1.0 million or 2.6% over the same quarter last year, but net income was down mainly due to a reduction in gross profit and slightly higher selling and administrative expense related to the company's expansion into new markets.


                      Moore-Handley, Inc.
                Summary Statements of Operations
                         (UNAUDITED)

                                              Quarter Ended
                                                March 31
                                      =============================== 
                                    
                                         2003                2002
                                      ===========         ===========
                                     
 Sales                                $40,265,000         $39,238,000
 
 Cost of merchandise sold                               
                                       34,192,000          33,123,000
 Warehouse and delivery expense                         
                                        2,378,000           2,317,000
                                      -----------         ----------- 
 Cost of sales                         36,570,000          35,440,000
                                      -----------         ----------- 
 
 Gross profit                           3,695,000           3,798,000
 Selling and administrative expense                     
                                        3,201,000           3,132,000
                                      -----------         ----------- 
 Operating income (loss)                  494,000             666,000
 Interest expense, net                                  
                                          229,000             201,000
                                      -----------         ----------- 
 Income (loss) before income tax          265,000             465,000
 Income tax                                             
                                           98,000             171,000
                                      -----------         ----------- 
 Net income (loss)                    $   167,000         $   294,000
                                      ===========         =========== 
 Net income (loss) per share          $      0.09         $      0.16
                                      ===========         ===========
 
 Weighted average diluted common
  shares outstanding
                                        1,911,000           1,896,000
                                      ===========         ===========


            

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