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MOORE-HANDLEY REPORTS RESULTS OF OPERATIONS FOR THE YEAR ENDED DEC. 31, 1992

 BIRMINGHAM, Ala., Feb. 18 /PRNewswire/ -- Moore-Handley, Inc. (NASDAQ: MHCO) reported 1992 net income of $.59 per share compared to a net loss of $.43 per share for the preceding year.
 Both sales and net income for 1992 were the highest in the company's history.
 The Birmingham distributor of hardware and home center supplies reported net income of $.04 per share for the fourth quarter vs. a loss of $.19 for the fourth quarter of 1991.
 Summary results of operations for 1992 follow:
 SUMMARY STATEMENT OF OPERATIONS
 (In thousands, except per share data)
 Quarter ended 12/31/92 12/31/91
 Sales $28,977 $28,878
 Total gross margin 5,270 5,498
 Warehouse & delivery expense 1,929 2,146
 Gross profit 3,341 3,352
 Selling & administrative exp. 3,178 3,752
 Operating income (loss) 163 (400)
 Interest expense 103 180
 Income (loss) before provision
 (benefit) for income tax 60 (580)
 Income tax (benefit) (20) (161)
 Net income (loss) $ 80 $ (419)
 Net income (loss) per share $ .04 $ (.19)
 Weighted average number of
 outstanding shares 2,281,000 2,257,000
 Year ended 12/31/92 12/31/91
 Sales $126,003 $123,627
 Total gross margin 23,268 23,176
 Warehouse & delivery expense 7,569 8,542
 Gross profit 15,699 14,634
 Selling & administrative exp. 13,101 15,331
 Operating income (loss) 2,598 (697)
 Interest expense 567 756
 Income (loss) before provision
 (benefit) for income tax 2,031 (1,453)
 Income tax (benefit) 690 (477)
 Net income (loss) $ 1,341 $ (976)
 Net income (loss) per share $ .59 $ (.43)
 Weighted average number of
 outstanding shares 2,275,000 2,257,000
 -0- 2/18/93
 /CONTACT: L. Ward Edwards of Moore-Handley, Inc., 404-577-5532/
 (MHCO)


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

BN-BR -- AT016 -- 7910 02/18/93 12:54 EST
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Publication:PR Newswire
Date:Feb 18, 1993
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