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MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE QUARTER ENDED JUNE 30, 1993

 BIRMINGHAM, Ala., July 19 /PRNewswire/ -- Moore-Handley, Inc. (NASDAQ: MHCO) reported net sales of $33,035,000 and a net profit of $379,000 or $.17 per share for the quarter ended June 30.
 This compares to a profit of $511,000 or $.22 per share in the same quarter last year.
 Sales for the quarter were approximately the same as a year ago. However, gross margin was down 5 percent due to a more competitive pricing policy.
 Summary results of operations follow:
 SUMMARY STATEMENT OF OPERATIONS
 (In thousands, except per share data)
 Quarter ended June 30 1993 1992
 Sales $33,035 $33,286
 Total gross margin 5,852 6,161
 Warehouse & delivery expense 1,925 1,879
 Gross profit 3,927 4,282
 Selling & administrative expense 3,189 3,321
 Operating income 738 961
 Interest expense 137 150
 Income before provision for income tax 601 811
 Income tax 222 300
 Net income $ 379 $ 511
 Net income per share $ .17 $ .22
 Weighted average number of
 outstanding shares 2,281,000 2,281,000
 Six months ended June 30 1993 1992
 Sales $65,254 $63,950
 Total gross margin 11,327 11,970
 Warehouse & delivery expense 3,741 3,699
 Gross profit 7,586 8,271
 Selling & administrative expense 6,487 6,595
 Operating income 1,099 1,676
 Interest expense 307 338
 Income before provision for income tax 792 1,338
 Income tax 293 495
 Net income $ 499 $ 843
 Net income per share $ .22 $ .37
 Weighted average number of
 outstanding shares 2,281,000 2,281,000
 -0- 7/19/93
 /CONTACT: L. Ward Edwards of Moore-Handley, 404-577-5532/
 (MHCO)


CO: Moore-Handley, Inc. ST: Alabama IN: SU: ERN

RA-BN -- AT016 -- 3088 07/19/93 13:13 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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