BIRMINGHAM, Ala., Oct. 17, 2005 (PRIMEZONE) -- Moore-Handley, Inc. (Pink Sheets:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $320,000 or $0.21 per diluted share for the quarter ended September 30, 2005 vs. a net income of $110,000 or $0.07 per diluted share for the same period in 2004.
Sales for the quarter were $48,936,000 up 12.5% from the same quarter last year. Sales for the nine months ended September 30, 2005 were $134,458,000 or 7.4% above those for the comparable period in 2004. The net income for the nine months ended September 30, 2005 was $743,000 or $0.46 per diluted share vs. net income of $758,000 or $0.46 per diluted share for the same period last year.
Moore-Handley, Inc.
Selected Financial Data
(UNAUDITED)
Quarter Ended Nine Months Ended
September 30 September 30
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2005 2004 2005 2004
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Operations:
Sales $ 48,936,000 $ 43,482,000 $134,458,000 $125,159,000
Operating income 833,000 429,000 2,130,000 1,930,000
Income before
income tax 533,000 175,000 1,236,000 1,204,000
Net income $ 320,000 $ 110,000 $ 743,000 $ 758,000
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Net income per
share - basic $ 0.22 $ 0.07 $ 0.51 $ 0.49
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Net income per
share - diluted $ 0.21 $ 0.07 $ 0.46 $ 0.46
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Weighted average
common shares
outstanding:
Basic 1,467,000 1,467,000 1,467,000 1,547,000
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Diluted 1,560,000 1,520,000 1,631,000 1,634,000
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Balance Sheets:
September 30 - 2005 2004
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Current assets $53,474,000 $48,692,000
Other assets 512,000 715,000
Property & equipment, net 9,310,000 8,793,000
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Total assets 63,296,000 58,200,000
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Current liabilities 26,702,000 21,664,000
Long term debt 22,021,000 23,169,000
Deferred income taxes 1,193,000 947,000
Stockholders' equity 13,380,000 12,420,000
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Total liabilities &
stockholders' equity $63,296,000 $58,200,000
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