HUGHES SUPPLY ANNOUNCES QUARTERLY RESULTS
HUGHES SUPPLY ANNOUNCES QUARTERLY RESULTS ORLANDO, Fla., Aug. 13 /PRNewswire/ -- Hughes Supply, Inc.
(NYSE: HUG) announced today that sales for the second quarter ended July 31, 1992 totaled $135.8 million, a 13 percent increase over last year's second quarter sales of $120.0 million. The company reported net income of $510,000 for the second quarter compared to a net loss last year of ($521,000). Earnings per share for the current period were $.12 per share.
For the six months ended July 31, 1992, sales were $258.6 million, an increase of 9 percent over last year's first six months. Net income totaled $620,000 for the first six months ended July 31, 1992 compared to a net loss of ($1,803,000) last year. Earnings per share for the current six month period were $.15 per share. The company has made significant 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- 8/13/92 /CONTACT: David H. Hughes, president of Hughes Supply, 407-841-4710/ (HUG) CO: Hughes Supply, Inc. ST: Florida IN: CST SU: ERN
AW-JB -- FL002 -- 9512 08/13/92 09:56 EDT
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|Date:||Aug 13, 1992|
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