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MOORE MEDICAL REPORTS HIGHER EARNINGS FOR THIRD QUARTER

 NEW BRITAIN, Conn., Oct. 19 /PRNewswire/ -- Moore Medical Corp. (AMEX: MMD) today reported operating results for the third quarter ending Oct. 2, 1993. Sales of $66,301,000 were 2 percent higher than the level in the third quarter a year ago. Net income for the quarter of $869,000 (30 cents per share) was 35 percent higher than the $644,000 (23 cents per share) earned in the 1992 third quarter. For the first three quarters of the year, earnings increased 33 percent to $2,230,000 (77 cents per share).
 Commenting on the operating performance, Mark E. Karp, president and chief executive officer, stated, "Earnings improvements continue to result from a shift in sales product mix toward the higher margin products. Sales increases for generic pharmaceuticals and medical/surgical supplies have been replacing, and in the third quarter surpassed, decreases in sales of brand-name pharmaceuticals. Whereas quarterly earnings have improved since we revised our marketing strategy two years ago, this is the first time that we have also experienced sales gains.
 "Our improving delivery speed is one significant customer service factor underlying our financial performance. We have modified order processing procedures to achieve a significant increase in shipments made on the same day as the customer's order."
 Moore Medical Corp. is a national wholesale distributor of brand-name and generic pharmaceuticals and medical/surgical supplies.
 MOORE MEDICAL CORPORATION
 Statement of Operations
 For The Third Quarter of 1993 and 1992
 (Amounts in thousands, except per share data)
 Percent Pct. of Sales
 1993 1992 change 1993 1992
 Net sales $66,301 $65,010 2 pct 100.0 pct 100.0 pct
 Cost of products
 sold 57,251 56,532 1 86.3 87.0
 Gross profit 9,050 8,478 7 13.7 13.0
 Selling, general
 & administrative
 expenses 7,003 6,862 2 10.6 10.5
 Operating income 2,047 1,616 27 3.1 2.5
 Interest expense, net 714 642 11 1.1 1.0
 Income before income
 taxes 1,333 974 37 2.0 1.5
 Income tax provision 464 330 -- .7 .5
 Net income $869 $644 35 pct 1.3 pct 1.0 pct
 Net inc. per share 30 cents 23 cents
 Average shares
 outstanding 2,879 2,860
 NOTE: The third quarters ended on Oct. 2, 1993, and Sept. 26, 1992.
 MOORE MEDICAL CORPORATION
 Statement of Operations
 For The First Three Quarters of 1993 and 1992
 (Amounts in thousands, except per share data)
 Percent Pct. of Sales
 1993 1992 Change 1993 1992
 Net sales $211,001 $211,319 - pct 100.0 pct 100.0 pct
 Cost of products
 sold 183,433 185,799 (1) 86.9 87.9
 Gross profit 27,568 25,520 8 13.1 12.1
 Selling, general
 & administrative
 expenses 22,010 20,595 7 10.4 9.8
 Operating income 5,558 4,925 13 2.7 2.3
 Interest expense,
 net 2,097 2,322 (10) 1.0 1.1
 Income before income
 taxes 3,461 2,603 33 1.7 1.2
 Income tax provision 1,231 928 -- .6 .4
 Net income $2,230 $1,675 33 pct 1.1 pct .8 pct
 Net inc. per share 77 cents 59 cents
 Average shares
 outstanding 2,883 2,851
 NOTE: The first three quarters ended on Oct. 2, 1993, and Sept. 26, 1992.
 -0- 10/19/93
 /CONTACT: John A. Murray of Moore Medical Corp., 203-826-3677/
 (MMD)


CO: Moore Medical Corp. ST: Connecticut IN: MTC SU: ERN

JL-CM -- NE014 -- 4045 10/19/93 14:03 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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