HUGHES SUPPLY, INC. ANNOUNCES QUARTERLY RESULTS
HUGHES SUPPLY, INC. ANNOUNCES QUARTERLY RESULTS ORLANDO, Fla., Nov. 12 /PRNewswire/ -- Hughes Supply, Inc.
(NYSE: HUG) announced today that sales for the third quarter ended Oct. 31, 1992 totaled $138.8 million, a 12.5 percent increase over last year's third quarter sales of $123.4 million. The company reported net income of $633,000 for the third quarter compared to a net loss last year of ($235,000). Earnings per share for the current period were $.15 per share.
For the nine months ended Oct. 31, 1992, sales were $397.4 million, an increase of 10.4 percent over last year's nine month period. Net income totaled $1,253,000 for the nine months ended Oct. 31, 1992 compared to a net loss of ($2,038,000) last year. Earnings per share for the current nine month period were $.30 per share. The company continues to make progress in realigning its operations and improving profitability in markets which, although improved, remain at levels substantially below those of recent years. The company is optimistic as market conditions continue to improve slowly. The construction recovery remains tenuous throughout most of the Southeast, as consumers continue to delay major purchases. -0- 11/12/92 /CONTACT: David H. Hughes, president of Hughes Supply, Inc., 407-841-4710/ (HUG) CO: Hughes Supply, Inc. ST: Florida IN: CST SU: ERN
AW-JB -- FL001 -- 0065 11/12/92 09:49 EST
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|Date:||Nov 12, 1992|
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