BIRMINGHAM, Ala., Oct. 16, 2006 (PRIMEZONE) -- Moore-Handley, Inc. (Pink Sheets:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $225,000 or $0.14 per diluted share for the quarter ended September 30, 2006 vs. $320,000 or $0.21 per diluted share for the same period in 2005.
Sales for the quarter were $48,424,000, down 1.0% from the same quarter last year. Sales for the nine months ended September 30, 2006 were $149,255,000 or 11.0% above those in 2005. Net income for the nine months ended September 30, 2006 was $865,000 or $0.52 per diluted share vs. net income of $743,000 or $0.46 per diluted share last year.
Selected financial data follow:
Moore-Handley, Inc.
Selected Financial Data
(UNAUDITED) (UNAUDITED)
Quarter Ended Nine Months Ended
September 30 September 30
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Operations: 2006 2005 2006 2005
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Sales $ 48,424,000 $ 48,936,000 $149,255,000 $134,458,000
Operating
income 865,000 833,000 2,772,000 2,130,000
Income before
income tax 373,000 533,000 1,440,000 1,236,000
Net income $ 225,000 $ 320,000 $ 865,000 $ 743,000
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Net income
per share
- basic $ 0.14 $ 0.22 $ 0.53 $ 0.51
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Net income
per share
- diluted $ 0.14 $ 0.21 $ 0.52 $ 0.46
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Weighted
average
common
shares
outstanding
Basic 1,628,000 1,467,000 1,627,000 1,467,000
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Diluted 1,647,000 1,560,000 1,648,000 1,631,000
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Balance Sheets:
September 30 - 2006 2005
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Current assets $ 56,041,000 $ 53,474,000
Other assets
384,000 512,000
Property & equipment, net 9,257,000 9,310,000
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Total assets 65,682,000 63,296,000
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Current liabilities 25,545,000 26,702,000
Long term debt 24,359,000 22,021,000
Other liabilities 1,620,000 1,193,000
Stockholders' equity 14,158,000 13,380,000
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Total liabilities & stockholders' equity $ 65,682,000 $ 63,296,000
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