Moore-Handley Reports Results of Operations for the Quarter Ended September 30, 2008


BIRMINGHAM, Ala., Oct. 10, 2008 (GLOBE NEWSWIRE) -- Moore-Handley, Inc. (Pink Sheets:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $63,000, or $0.04 per diluted share, for the quarter ended September 30, 2008 vs. a net loss of $597,000, or $0.37 per diluted share, for the same period in 2007.

Sales for the quarter were $40,227,000, down 6.6% from the same quarter last year. Sales for the nine months ended September 30, 2008 were $118,212,000, or 11.2% below those in 2007. Net loss for the nine months ended September 30, 2008 was $125,000, or $0.08 per diluted share, vs. $476,000, or $0.30 per diluted share, last year.

Selected financial data follow:



                            Moore-Handley, Inc.
                         Selected Financial Data

                        (UNAUDITED)                (UNAUDITED)
                       Quarter Ended            Nine Months Ended
                        September 30               September 30
                ==========================  ==========================

 Operations:        2008          2007          2008          2007
                ============  ============  ============  ============

 Sales          $ 40,227,000  $ 43,058,000  $118,212,000  $133,050,000

 Operating
  income (loss)      485,000      (477,000)      985,000       785,000

 Interest
  expense            376,000       535,000     1,196,000     1,592,000

 Income (loss)
  before income
  tax                109,000    (1,012,000)     (211,000)     (807,000)

 Net income
 (loss)         $     63,000  $   (597,000) $   (125,000) $   (476,000)
                ============  ============  ============  ============

 Net income
  (loss) per
  share - basic $       0.04  $      (0.37) $      (0.08) $      (0.30)
                ============  ============  ============  ============

 Net income
  (loss) per
   share -
   diluted      $       0.04  $      (0.37) $      (0.08) $      (0.30)
                ============  ============  ============  ============

 Weighted
  average common
  shares
  outstanding
   Basic           1,600,000     1,600,000     1,600,000     1,599,000
                ============  ============  ============  ============

   Diluted         1,604,000     1,600,000     1,600,000     1,599,000
                ============  ============  ============  ============


 Balance Sheets:
 September 30 -      2008          2007
 -----------------------------------------
 Current assets $ 50,190,000  $ 58,912,000
 Other assets        897,000       360,000
 Property &
  equipment, net   7,879,000     8,772,000
                ------------  ------------
 Total assets     58,966,000    68,044,000
                ============  ============


 Current
  liabilities     19,739,000    23,911,000
 Long term debt   26,329,000    29,143,000
 Other
  liabilities      2,938,000     3,235,000
 Stockholders'
  equity           9,960,000    11,755,000
                ------------  ------------
 Total
  liabilities &
  stockholders'
  equity        $ 58,966,000  $ 68,044,000
                ============  ============

 End 10/10/08


            

Kontaktdaten