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MOORE MEDICAL REPORTS HIGHER EARNINGS IN FIRST QUARTER

 NEW BRITAIN, Conn., April 22 /PRNewswire/ -- Moore Medical Corp. (AMEX: MMD) today reported sales of $74,517,000 for the first quarter ending April 3, 1993, compared with $76,138,000 for last year's first quarter. Net income for the quarter of $702,000 (24 cents per share) was 43 percent higher than the $492,000 (17 cents per share) earned in the comparable 1992 quarter.
 Commenting on the quarter, Mark E. Karp. president and chief executive officer, stated "This was the sixth successive quarter of year-to-year improvement in earnings. Our marketing strategies have continued to generate increased sales of generic pharmaceuticals and medical and surgical supplies, our higher margin products. Although total sales declined slightly, gross profits and operating income increased due to the more favorable mix of products sold. Net income for the quarter benefited from lower interest expense as well as the increase in operating income.
 "An important milestone was the opening of our new 50,000 square foot distribution center in California, which is larger and better-located than our priority facility. From the new distribution center we are able to achieve more rapid delivery of products, particularly medical and surgical supplies, to west coast customers. Start-up expenses, mostly for hiring and training the work force, were $150,000, or 3 cents per share in the first quarter."
 Moore Medical Corp. is a national wholesale distributor of brand name and generic pharmaceuticals and medical and surgical supplies
 MOORE MEDICAL CORPORATION
 Statement of Operations
 For The First Quarter of 1993 and 1992
 (In thousands, except per share data)
 Percent Pct. of Sales
 1993 1992 Change 1993 1992
 Net sales $74,517 $76,138 (2) 100.0 100.0
 Cost of products
 sold 65,031 67,406 (4) 87.3 88.5
 Gross profit 9,486 8,732 9 12.7 11.5
 Selling, general
 & administrative
 expenses 7,722 7,053 9 10.3 9.3
 Operating income 1,764 1,679 5 2.4 2.2
 Interest expense, net 667 910 (27) .9 1.2
 Income before income
 taxes 1,097 769 43 1.5 1.0
 Income tax provision 395 277 --- .5 .4
 Net income $702 $492 43 1.0 .6
 Net income per share 24 cents 17 cents
 Average shares
 outstanding 2,888 2,841
 ----
 Note: The first quarters ended on April 3, 1993 and March 28, 1992
 -0- 4/22/93
 /CONTACT: John A. Murray of Moore Medical Corp., 203-826-3677/
 (MMD)


CO: Moore Medical Corp. ST: Connecticut IN: HEA MTC SU: ERN

TM -- NE011 -- 9275 04/22/93 10:03 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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