Moore-Handley Reports Results of Operations for the Quarter Ended June 30, 2002


BIRMINGHAM, Ala., July 22, 2002 (PRIMEZONE) -- Moore-Handley, Inc. (Nasdaq:MHCO), a Birmingham-based distributor of hardware and home center products, reported net income of $328,000 or $0.17 per diluted share for the quarter ended June 30, 2002 vs. $253,000 or $0.14 per diluted share for the same period in 2001.

Sales for the quarter were $40,379,000, up slightly from the same quarter last year. Sales for the six months ended June 30, 2002 were $79,617,000 or slightly above those for the comparable period in 2001. Net income for the first six months of 2002 was $621,000 or $0.32 per diluted share vs. $505,000 or $0.28 per diluted share for the same period last year.

Summary results of operations follows:


                         Moore-Handley, Inc.
                   Summary Statements of Operations
                              (UNAUDITED)

                         Quarter Ended             Six Months Ended
                            June 30                     June 30
                   ========================  ========================
                      2002         2001          2002        2001
                   ===========  ===========  ===========  ===========

 Sales             $40,379,000  $39,820,000  $79,617,000  $79,232,000
 Cost of
  merchandise
  sold              33,910,000   33,554,000   67,034,000   66,566,000
 Warehouse and
  delivery expense   2,301,000    2,248,000    4,618,000    4,549,000
                   -----------  -----------  -----------  -----------
 Cost of sales      36,211,000   35,802,000   71,652,000   71,115,000
                   -----------  -----------  -----------  -----------
 Gross profit
                     4,168,000    4,018,000    7,965,000    8,117,000
 Selling and
  administrative
  expense            3,427,000    3,290,000    6,559,000    6,561,000
                   -----------  -----------  -----------  -----------
 Operating income      741,000      728,000    1,406,000    1,556,000
 Interest expense,
  net                  222,000      333,000      423,000      767,000
                   -----------  -----------  -----------  -----------
 Income  before
  income tax           519,000      395,000      983,000      789,000
 Income tax            191,000      142,000      362,000      284,000
                   -----------  -----------  -----------  -----------
 Net income        $   328,000  $   253,000  $   621,000  $   505,000
                   ===========  ===========  ===========  ===========
 Net income per
 share - diluted   $      0.17  $      0.14  $      0.32  $      0.28
                   ===========  ===========  ===========  ===========
 Weighted average
  diluted common
  shares
  outstanding        1,967,000    1,809,000    1,931,000    1,809,000
                   ===========  ===========  ===========  ===========


            

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