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HUGHES SUPPLY, INC. ANNOUNCES SECOND QUARTER EARNINGS

 ORLANDO, Fla., Aug. 16 /PRNewswire/ -- Hughes Supply, Inc. (NYSE: HUG) today announced earnings per share for the second quarter of $.34 per share fully diluted compared to $.12 last year. Sales increased 15 percent to $163,950,000 compared to $142,155,000. Net income was $1,718,000 for the quarter compared to $562,000 in last year's second quarter.
 For the six month period ended July 31, 1993 sales totaled $312,464,000, a 14 percent increase over last year's six month period. Net income increased to $2,417,000 or $.51 per share fully diluted, compared to $745,000 for a year ago or $.16 per share.
 Prior results and the current year's first quarter have been restated to reflect the acquisition of Electrical Distributors, Inc. which has been accounted for using the pooling-of-interest method of accounting. This transaction was consummated on June 30, 1993. The restatement had only a minor impact on previously reported results of operations, but is expected to add to incremental earnings in the future. Three other purchase transactions were closed late in the second quarter and had only a minor impact.
 Results for the second quarter ended July 31, 1993 were favorably impacted by lower interest rates, a gradual improvement in construction activity, and an aggressive marketing program to gain market share.
 -0- 8/16/93
 /CONTACT: David H. Hughes, president of Hughes Supply, Inc., 407-841-4755/
 (HUG)


CO: Hughes Supply, Inc. ST: Florida IN: CS

PRNEWSWIRE

JB-AW -- FL010 -- 2938 08/16/93 09:37 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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