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MOORE MEDICAL REPORTS EARNINGS IMPROVEMENT IN SECOND QUARTER

 MOORE MEDICAL REPORTS EARNINGS IMPROVEMENT IN SECOND QUARTER
 NEW BRITAIN, Conn., July 21 /PRNewswire/ -- Moore Medical Corp. (AMEX: MMD), today reported sales of $70,171,000 for the second quarter ending June 27, 1992, compared with $84,309,000 for last year's second quarter. Net income for the quarter of $790,000 (28 cents per share) increased significantly over the $144,000 (5 cents per share) earned in the comparable 1991 quarter. Before an extraordinary tax benefit, income per share was 19 cents in the 1992 quarter compared with 3 cents in the prior year's quarter.
 Commenting on the quarter, Mark E. Karp, president and chief executive officer, stated, "We have just completed two quarters of significantly improved earnings, resulting primarily from ongoing progress in executing our plans to redirect our business toward higher margin products and markets. Net income for the second quarter, as well as for the first half, reached its highest level in four years.
 As expected, sales volume of brand name pharmaceuticals has decreased following modification in mid-1991 of our pricing policy, designed to curtail low gross margin sales, and also from limited forward buying opportunities. Enhanced service capabilities and more targeted marketing programs have resulted in higher sales volume of generic drugs and of medical and surgical supplies. The more favorable sales mix has produced steady improvement in the gross profit margin rate to 11.8 percent in the second quarter. The decreased sales volume allowed us to make cuts during the past year in personnel and operating working capital, directly resulting in lower operating expenses and lower interest expense. Falling interest rates have also contributed to lower interest expense.
 Our financial results reflect effects of changes we have been making in the business over the past few years. We are confident we are building a stronger business for the long term as well as this year."
 Moore Medical Corp. is a national wholesale distributor of brand name and generic pharmaceuticals and medical and surgical supplies.
 MOORE MEDICAL CORPORATION
 Comparative Results of Operations
 For The Second Quarters Ended
 June 27, 1992 and June 29, 1991
 (In thousands, except per share data)
 Second Quarter Ended Percent Pct. of Sales
 6/27/92 6/29/91 Change 1992 1991
 Net sales $70,171 $84,309 (17) 100.0 100.0
 Cost of products
 sold 61,861 75,854 (18) 88.2 90.0
 Gross profit 8,310 8,455 (2) 11.8 10.0
 Selling, general
 & administrative
 expenses 6,680 6,989 (4) 9.5 8.3
 Operating income 1,630 1,466 11 2.3 1.7
 Interest expense, net 770 1,298 (41) 1.1 1.5
 Income before income
 taxes and
 extraordinary item 860 168 412 1.2 .2
 Income tax provision 321 81 --- .4 .1
 Income before
 extraordinary item 539 87 --- .8 .1
 Extraordinary item-(a) 251 57 --- .3 .1
 Net income $790 $144 449 1.1 .2
 Income per share:
 Income before
 extraordinary item 19 cents 3 cents
 Net income 28 cents 5 cents
 Average shares
 outstanding 2,851 2,852
 ----
 Note (a): Extraordinary item reflects tax benefits from utilization
 of net operating loss carryforwards.
 Comparative Results of Operations
 For the First Two Quarters Ended
 June 27, 1992 and June 29, 1991
 (In thousands, except per share data)
 Percent Pct. of Sales
 6/27/92 6/29/91 Change 1992 1991
 Net sales $146,309 $168,611 (13) 100 100
 Cost of products sold 129,267 151,488 (15) 88.4 89.8
 Gross profit 17,042 17,123 -- 11.6 10.2
 Selling, general &
 administrative expenses 13,733 14,178 (3) 9.4 8.4
 Operating income 3,309 2,945 12 2.2 1.8
 Interest expense, net 1,608 2,496 (33) 1.1 1.5
 Income before income
 taxes and
 extraordinary item 1,629 449 263 1.1 .3
 Income tax provision 598 200 -- .4 .1
 Income before
 extraordinary item 1,031 249 -- .7 .2
 Extraordinary item-(a) 505 152 -- .3 .1
 Net income $1,536 $401 283 1.0 .3
 Income per share:
 Income before
 extraordinary item 36 cents 9 cents
 Net income 54 cents 14 cents
 Average shares
 outstanding 2,845 2,848
 ----
 Note(a): Extraordinary item reflects tax benefits from utilization of net operating loss carryforwards.
 -0- 7/21/92
 /CONTACT: John A. Murray of Moore Medical Corp., 203-826-3677/
 (MMD) CO: Moore Medical Corp. ST: Connecticut IN: HEA MTC SU: ERN


DD -- NE008 -- 1217 07/21/92 10:30 EDT
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Date:Jul 21, 1992
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