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MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE QUARTER ENDED MARCH 31

 MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS
 FOR THE QUARTER ENDED MARCH 31
 BIRMINGHAM, Ala., April 10 /PRNewswire/ -- Moore-Handley, Inc. (NASDAQ: MHCO) reported that the company earned $332,000 or $.15 per share for the first quarter ending March 31, compared to a loss of $198,000 or nine cents per share in the same quarter of 1991.
 Sales increased 13 percent from $27,205,000 to $30,644,000.
 The company attributed the improvement in earnings to higher sales, a slight increase in margins and better control of costs.
 Summary results of operations follow:
 SUMMARY STATEMENT OF OPERATIONS
 (in thousands, except per share data)
 Quarter ended March 31 1992 1991
 Sales $30,664 $27,205
 Total gross margin 5,809 5,005
 Warehouse & delivery expense 1,820 1,756
 Gross profit 3,989 3,249
 Selling & administrative exp. 3,274 3,357
 Operating income (loss) 715 (108)
 Interest expense 188 206
 Income (loss) before provision
 (benefit) for income tax 527 (314)
 Income tax (benefit) 195 (116)
 Net income (loss) $ 332 $ (198)
 Net income (loss) per share $ .15 $ (.09)
 Weighted average number of
 outstanding shares 2,257,000 2,257,000
 -0- 4/10/92
 /CONTACT: L. Ward Edwards of Moore-Handley Inc., 404-577-5532/
 (MHCO) CO: Moore-Handley, Inc. ST: Alabama IN: HOU SU: ERN


EA-BR -- AT005 -- 7192 04/10/92 11:29 EDT
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Publication:PR Newswire
Date:Apr 10, 1992
Words:220
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