BIRMINGHAM, Ala., March 12, 2007 (PRIME NEWSWIRE) -- Moore-Handley, Inc. (Pink Sheets:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $257,000 or $0.16 per diluted share for the quarter ended December 31, 2006 vs. $327,000 or $0.20 per diluted share for the same period in 2005.
Sales for the quarter were $37,133,000, down 14.3% from the same quarter last year. Sales for the twelve months ended December 31, 2006 were $186,388,000 or 4.8% above those in 2005. Net income for the year ended December 31, 2006 was $1,122,000 or $0.68 per diluted share vs. net income of $1,070,000 or $0.66 per diluted share last year.
Selected financial data follow:
Moore-Handley, Inc.
Selected Financial Data
(UNAUDITED) (AUDITED)
Quarter Ended Twelve Months Ended
December 31 December 31
========================== ==========================
Operations: 2006 2005 2006 2005
============ ============ ============ ============
Sales $ 37,133,000 $ 43,310,000 $186,388,000 $177,768,000
Operating
income 882,000 880,000 3,654,000 3,010,000
Interest
expense 452,000 332,000 1,784,000 1,226,000
Income before
income tax 430,000 548,000 1,870,000 1,784,000
Net income $ 257,000 $ 327,000 $ 1,122,000 $ 1,070,000
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Net income
per share
- basic $ 0.16 $ 0.21 $ 0.69 $ 0.72
============ ============ ============ ============
Net income
per share
- diluted $ 0.16 $ 0.20 $ 0.68 $ 0.66
============ ============ ============ ============
Weighted
average
common
shares
outstanding
Basic 1,608,000 1,554,000 1,623,000 1,489,000
============ ============ ============ ============
Diluted 1,624,000 1,659,000 1,642,000 1,618,000
============ ============ ============ ============
Balance Sheets:
December 31 - 2006 2005
-------------------------------------------
Current assets $ 49,573,000 $ 49,031,000
Other assets 360,000 384,000
Property &
equipment,
net 9,128,000 9,072,000
------------ ------------
Total assets 59,061,000 58,487,000
============ ============
Current
liabilities 18,743,000 21,465,000
Long term
debt 24,766,000 22,064,000
Other
liabilities 3,327,000 1,672,000
Stockholders'
equity 12,225,000 13,286,000
------------ ------------
Total
liabilities
& stockholders'
equity $ 59,061,000 $ 58,487,000
============ ============