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

 MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS
 FOR THE QUARTER ENDED JUNE 30
 BIRMINGHAM, Ala., July 17 /PRNewswire/ -- Moore-Handley, Inc. (NASDAQ: MHCO) reported net sales of $33,286,000 and a net profit of $511,000 or $.22 per share for the quarter ended June 30.
 These are the highest quarterly earnings in the company's history and compare to a loss of $153,000 or $.07 per share in the same quarter last year.
 Operating expenses for the quarter last year were high due to a rapid increase in sales personnel and number of accounts as the result of the bankruptcy of a large competitor. These costs have been brought back under control in the current year.
 Summary results of operations follow:
 SUMMARY STATEMENT OF OPERATIONS
 (in thousands, except per share data)
 Quarter ended 6/30/92 6/30/91
 Sales $33,286 $33,639
 Total gross margin 6,161 6,373
 Warehouse & delivery expense 1,879 2,311
 Gross profit 4,282 4,062
 Selling & administrative exp. 3,321 4,145
 Operating income (loss) 961 (83)
 Interest expense 150 161
 Income (loss) before provision
 (benefit) for income tax 811 (244)
 Income tax (benefit) 300 (91)
 Net income (loss) $ 511 $ (153)
 Net income (loss) per share $ .22 $ (.07)
 Weighted average number of
 outstanding shares 2,281,000 2,257,000
 6 mos. ended 6/30/92 6/30/91
 Sales $63,950 $60,844
 Total gross margin 11,970 11,378
 Warehouse & delivery expense 3,699 4,070
 Gross profit 8,271 7,308
 Selling & administrative exp. 6,595 7,499
 Operating income (loss) 1,676 (191)
 Interest expense 338 366
 Income (loss) before provision
 (benefit) for income tax 1,338 (557)
 Income tax (benefit) 495 (206)
 Net income (loss) $ 843 $ (351)
 Net income (loss) per share $ .37 $ (.16)
 Weighted average number of
 outstanding shares 2,281,000 2,257,000
 -0- 7/17/92
 /CONTACT: L. Ward Edwards of Moore-Handley, 404-577-5532/
 (MHCO) CO: Moore-Handley, Inc. ST: Alabama IN: HOU SU: ERN


EA-CF -- AT006 -- 0232 07/17/92 11:58 EDT
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Publication:PR Newswire
Date:Jul 17, 1992
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