BIRMINGHAM, Ala., July 18, 2006 (PRIMEZONE) -- Moore-Handley, Inc. (Pink Sheets:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $333,000 or $0.20 per diluted share for the quarter ended June 30, 2006 vs. $258,000 or $0.17 per diluted share for the same period in 2005.
Sales for the quarter were $48,699,000, up 18.3% from the same quarter last year. Sales for the six months ended June 30, 2006 were $100,831,000 or 17.9% above those in 2005. Net income for the six months ended June 30, 2006 was $640,000 or $0.39 per diluted share vs. net income of $423,000 or $0.26 per diluted share last year.
Selected financial data follow:
Moore-Handley, Inc.
Selected Financial Data
(UNAUDITED) (UNAUDITED)
Quarter Ended Six Months Ended
June 30 June 30
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Operations: 2006 2005 2006 2005
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Sales $ 48,699,000 $ 41,173,000 $100,831,000 $ 85,522,000
Operating
income 1,013,000 746,000 1,907,000 1,297,000
Income
before
income tax 556,000 429,000 1,067,000 703,000
Net income $ 333,000 $ 258,000 $ 640,000 $ 423,000
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Net income
per share -
basic $ 0.20 $ 0.18 $ 0.39 $ 0.29
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Net income
per share -
diluted $ 0.20 $ 0.17 $ 0.39 $ 0.26
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Weighted
average
common
shares
outstanding
Basic 1,627,000 1,467,000 1,627,000 1,467,000
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Diluted 1,651,000 1,547,000 1,650,000 1,620,000
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Balance
Sheets:
June 30 - 2006 2005
-----------------------------------------
Current
assets $ 50,644,000 $ 44,005,000
Other assets 384,000 483,000
Property &
equipment,
net 9,422,000 9,402,000
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Total assets 60,450,000 53,890,000
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Current
liabilities 18,987,000 17,898,000
Long term
debt 25,800,000 21,741,000
Other
liabilities 1,730,000 1,193,000
Stockholders'
equity 13,933,000 13,058,000
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Total
liabilities &
stockholders'
equity $ 60,450,000 $ 53,890,000
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