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MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE YEAR ENDED DEC. 31, 1991

 MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS
 FOR THE YEAR ENDED DEC. 31, 1991
 BIRMINGHAM, Ala., Feb. 27 /PRNewswire/ -- Moore-Handley, Inc. (NASDAQ: MHCO) reported a net loss of $.43 per share compared to net income of $.24 per share for the preceding year.
 Net sales were $123,627,000, up 10 percent over the previous year.
 Fourth quarter per share net loss for the Birmingham, Ala., distributor of hardware and home center supplies was 19 cents vs. income of 2 cents in 1990. Sales were $28,878,000, up 17 percent over the previous year.
 Sales for January 1992 were $8,006,000 compared to $6,786,000 for January 1991 and the company broke-even for the month compared to a loss of $.08 per share last January.
 Summary results of operations for 1991 follow:
 SUMMARY STATEMENT OF OPERATIONS
 (In thousands, except per share data)
 Qtr. ended 12/31/91 12/31/90
 Sales $28,878 $24,698
 Total gross margin 5,498 5,025
 Warehouse & delivery expense 2,146 1,641
 Gross profit 3,352 3,384
 Selling & administrative exp. 3,752 3,156
 Operating income (loss) (400) 228
 Interest expense 180 160
 Income (loss) before provision
 (benefit) for income tax (580) 68
 Income tax (benefit) (161) 29
 Net income (loss) $ (419) $ 39
 Net income (loss) per share $ (.19) $ .02
 Weighted average number of
 outstanding shares 2,257,000 2,257,000
 Year ended 12/31/91 12/31/90
 Sales $123,627 $112,347
 Total gross margin 23,176 21,387
 Warehouse & delivery expense 8,542 6,929
 Gross profit 14,634 14,458
 Selling & administrative exp. 15,331 12,857
 Operating income (loss) (697) 1,601
 Interest expense 756 710
 Income (loss) before provision
 (benefit) for income tax (1,453) 891
 Income tax (benefit) (477) 358
 Net income (loss) $ (976) $ 533
 Net income (loss) per share $ (.43) $ .24
 Weighted average number of
 outstanding shares 2,257,000 2,265,000
 -0- 2/27/92
 /CONTACT: L. Ward Edwards of Moore-Handley Inc., 404-577-5532/
 (MHCO) CO: Moore-Handley, Inc. ST: Alabama IN: HOU SU: ERN


BR-BN -- AT005 -- 3180 02/27/92 10:40 EST
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Publication:PR Newswire
Date:Feb 27, 1992
Words:352
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