BIRMINGHAM, Ala., April 17, 2006 (PRIMEZONE) -- Moore-Handley, Inc. (Pink Sheets:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $307,000 or $0.19 per diluted share for the quarter ended March 31, 2006, vs. $165,000 or $0.11 per diluted share for the same period in 2005.
Sales for the quarter were $52,132,000, up 17.5% from the same quarter last year.
Selected financial data follow:
Moore-Handley, Inc.
Selected Financial Data
(UNAUDITED)
Quarter Ended
March 31
=============================
Operations: 2006 2005
============== =============
Sales $ 52,132,000 $ 44,349,000
Operating income 894,000 551,000
Income before income tax 511,000 274,000
Net income $ 307,000 $ 165,000
============== =============
Net income per share - basic $ 0.19 $ 0.11
============== =============
Net income per share - diluted $ 0.19 $ 0.11
============== =============
Weighted average common shares
outstanding:
Basic 1,626,000 1,467,000
============== =============
Diluted 1,651,000 1,539,000
============== =============
Balance Sheets:
Current assets $ 60,373,000 $ 50,996,000
Other assets 384,000 499,000
Property & equipment, net 9,079,000 9,325,000
-------------- -------------
Total assets 69,836,000 60,820,000
============== =============
Current liabilities 26,030,000 23,474,000
Long term debt 28,513,000 23,355,000
Deferred income taxes & other 1,701,000 1,193,000
Stockholders' equity 13,592,000 12,798,000
-------------- -------------
Total liabilities & stockholders'
equity $ 69,836,000 $ 60,820,000
=============== ============
End 4/17/06