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HUGHES SUPPLY, INC. ANNOUNCES FIRST QUARTER EARNINGS

 ORLANDO, Fla., May 17 /PRNewswire/ -- Hughes Supply, Inc. (NYSE: HUG) today announced that net income for the first quarter ended April 30, 1993 totaled $648,000 compared to $110,000 for the first quarter of the prior fiscal year. Earnings per share increased to $.15 per share compared to $.03 per share last year.
 Sales for the quarter totaled $141,636,000 a 15 percent increase over last year's first quarter sales of $122,827,000. Gross profit dollars increased by 12 percent. Gross profit percent declined from 19.9 percent to 19.4 percent while operating expenses expressed as a percent of sales declined from 19.2 percent to 18.4 percent.
 The first quarter is traditionally the slowest quarter for Hughes. Results of operations were favorably impacted by lower mortgage rates and increased consumer confidence offset by the effects of adverse weather conditions throughout most of the Southeast.
 -0- 5/17/93
 /CONTACT: David H. Hughes, president of Hughes Supply, Inc., 407-841-4710/
 (HUG)


CO: Hughes Supply, Inc. ST: Florida IN: CST SU: ERN

JB-SS -- FL009 -- 9081 05/17/93 10:13 EDT
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Publication:PR Newswire
Date:May 17, 1993
Words:184
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