BIRMINGHAM, Ala., April 13, 2007 (PRIME NEWSWIRE) -- Moore-Handley, Inc. (Pink Sheets:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $310,000 or $0.19 per diluted share for the quarter ended March 31, 2007 vs. $307,000 or $0.19 per diluted share for the same period in 2006.
Sales for the quarter were $47,747,000, down 8.4% from the same quarter last year.
Selected financial data follow:
Moore-Handley, Inc.
Selected Financial Data
(UNAUDITED)
Quarter Ended
March 31
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Operations: 2007 2006
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Sales $47,747,000 $52,132,000
Operating income 1,039,000 894,000
Interest expense 512,000 383,000
Income before income tax 527,000 511,000
Net income $ 310,000 $ 307,000
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Net income per share - basic $ 0.19 $ 0.19
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Net income per share - diluted $ 0.19 $ 0.19
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Weighted average common shares
outstanding
Basic 1,598,000 1,626,000
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Diluted 1,614,000 1,651,000
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Balance Sheets:
March 31 - 2007 2006
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Current assets $59,401,000 $60,373,000
Other assets 360,000 384,000
Property & equipment, net 8,888,000 9,079,000
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Total assets 68,649,000 69,836,000
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Current liabilities 21,799,000 26,030,000
Long term debt 30,920,000 28,513,000
Other liabilities 3,394,000 1,701,000
Stockholders' equity 12,536,000 13,592,000
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Total liabilities & stockholders' equity $68,649,000 $69,836,000
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