BIRMINGHAM, Ala., April 19, 2004 (PRIMEZONE) -- Moore-Handley, Inc. (Pink Sheets:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $330,000 or $0.19 per diluted share for the quarter ended March 31, 2004 vs. $167,000 or $0.09 per diluted share for the same period in 2003.
Sales for the quarter were $43,027,000, up 6.9% from the same quarter last year.
Selected financial data follow:
Moore-Handley, Inc.
Selected Financial Data
(UNAUDITED)
Quarter Ended
March 31
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Operations: 2004 2003
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Sales $43,027,000 $40,265,000
Operating income 762,000 494,000
Income before income tax 524,000 265,000
Net income $ 330,000 $ 167,000
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Net income per share - diluted $ 0.19 $ 0.09
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Weighted average diluted common
shares outstanding 1,749,000 1,911,000
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Balance Sheets:
Current assets $48,812,000 $48,980,000
Other assets 135,000 602,000
Property & equipment, net 8,668,000 8,366,000
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Total assets 57,615,000 57,948,000
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Current liabilities 21,126,000 21,991,000
Long term debt 22,947,000 21,591,000
Deferred income taxes 947,000 1,032,000
Stockholders' equity 12,595,000 13,334,000
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Total liabilities & stockholders'
equity $57,615,000 $57,948,000
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