Printer Friendly

MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE QUARTER ENDED SEPT. 30

             MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS
                   FOR THE QUARTER ENDED SEPT. 30
    BIRMINGHAM, Ala., Nov. 4 /PRNewswire/ -- Moore-Handley, Inc. (NASDAQ: MHCO) reported net sales of $33,905,000 and a net loss of $.09 per share for the quarter ended Sept. 30.
    This compares to sales of $29,546,000 and a profit of $.07 per share in the same quarter last year.
    Net sales and gross margin for the quarter both were up about 14 percent compared to last year's third quarter, but higher operating expenses, particularly in sales and transportation, depressed net income.
    A large competitor of the company filed for bankruptcy late in the second quarter, and the company acquired a number of new accounts and sales personnel formerly with this competitor.  Serving these accounts initially has required above average unit selling and delivery costs, but these began to decline toward the end of the third quarter.
    Summary results of operations follow:
                 SUMMARY STATEMENT OF OPERATIONS
               (In thousands except per share data)
      Quarter ended                 9/30/91      9/30/90
    Sales                           $33,905      $29,546
    Total gross margin                6,300        5,527
    Warehouse & delivery expense      2,325        1,790
    Gross profit                      3,975        3,737
    Selling & administrative
     expense                          4,081        3,302
    Operating income (loss)            (106)         435
    Interest expense                    210          174
    Income (loss) before provision
     (benefit) for income tax          (316)         261

    Income tax (benefit)               (107)         104
    Net income (loss)               $  (209)     $   157
    Net income (loss) per share     $  (.09)     $   .07
    Weighted average number of
     outstanding shares           2,257,000    2,257,000
      6 mos. ended                  9/30/91      9/30/90
    Sales                           $94,749      $87,649
    Total gross margin               17,678       16,362
    Warehouse & delivery expense      6,396        5,288
    Gross profit                     11,282       11,074
    Selling & administrative
     expense                         11,580        9,702
    Operating income (loss)            (298)       1,372
    Interest expense                    576          549
    Income (loss) before provision
     (benefit) for income tax          (874)         823
    Income tax (benefit)               (316)         329
    Net income (loss)               $  (558)     $   494
    Net income (loss) per share     $  (.25)     $   .22
    Weighted average number of
     outstanding shares           2,257,000    2,267,000
    -0-                         11/4/91
    /CONTACT:  L. Ward Edwards of Moore-Handley Inc., 404-577-5532/
    (MHCO) CO:  Moore-Handley, Inc. ST:  Alabama IN:  HOU SU:  ERN BR-BN -- AT012 -- 0877 11/04/91 16:09 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 4, 1991
Words:373
Previous Article:APPLE APPEALS TARIFF ON FLAT PANEL DISPLAYS
Next Article:NATIONAL ENVIRONMENTAL GROUP ANNOUNCES RESULTS


Related Articles
ADAGE ANNOUNCES APPOINTMENT OF HANDLEY AS PRESIDENT OF ITS ALLISTER ACCESS CONTROLS SUBSIDIARY
MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE YEAR ENDED DEC. 31, 1991
MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE QUARTER ENDED MARCH 31
MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE QUARTER ENDED JUNE 30
DAMES & MOORE REPORTS SECOND QUARTER RESULTS
MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE YEAR ENDED DEC. 31, 1992
MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE QUARTER ENDED MARCH 31
MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE QUARTER ENDED JUNE 30, 1993
IMCERA REPORTS 19 PCT. INCREASE IN FISCAL 1994 FIRST QUARTER PER SHARE EARNINGS FROM CONTINUING OPERATIONS, EXCLUDING A NONRECURRING TAX CREDIT
MAYNARD OIL COMPANY REPORTS FINANCIAL RESULTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters