<SEC-DOCUMENT>0000900440-16-000223.txt : 20161020
<SEC-HEADER>0000900440-16-000223.hdr.sgml : 20161020
<ACCEPTANCE-DATETIME>20161019181530
ACCESSION NUMBER:		0000900440-16-000223
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20161019
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161020
DATE AS OF CHANGE:		20161019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALMONT INDUSTRIES INC
		CENTRAL INDEX KEY:			0000102729
		STANDARD INDUSTRIAL CLASSIFICATION:	FABRICATED STRUCTURAL METAL PRODUCTS [3440]
		IRS NUMBER:				470351813
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1226

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31429
		FILM NUMBER:		161943250

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 358
		STREET 2:		HWY 275
		CITY:			VALLEY
		STATE:			NE
		ZIP:			68064
		BUSINESS PHONE:		4023592201

	MAIL ADDRESS:	
		STREET 1:		P O BOX 358 - HIGHWAY 275
		CITY:			VALLEY
		STATE:			NE
		ZIP:			68064-0358

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VALLEY MANUFACTURING CO
		DATE OF NAME CHANGE:	19680822
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">UNITED STATES</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">SECURITIES AND EXCHANGE COMMISSION</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">CURRENT REPORT PURSUANT</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">TO SECTION 13 OR 15(D) OF THE</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">October 19, 2016</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">Date of report (Date of earliest event reported)</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">Valmont Industries, Inc.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">(Exact Name of Registrant as Specified in Its Charter)</div>

<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">Delaware</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">(State or Other Jurisdiction of Incorporation)</div>

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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">47-0351813</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">(Commission File Number)</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">(IRS Employer Identification No.)</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">One Valmont Plaza</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">Omaha, NE</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">(402) 963-1000</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">(Former Name or Former Address, if Changed Since Last Report)</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 12.55pt; TEXT-INDENT: 36pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">see </font>General Instruction A.2. below):</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Item 2.02.&#160; Results of Operations and Financial Condition.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">The information in this Item 2.02 is being furnished and shall not be deemed &#8220;filed&#8221; for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in this Item 2.02 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Valmont Industries, Inc. issued a press release on October 19, 2016 announcing its financial results for the company&#8217;s quarter ended September 24, 2016.&#160; The press release is furnished with this Form 8-K as Exhibit 99.1.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Item 9.01.&#160; Financial Statements and Exhibits.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">(d)</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Exhibits.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">99.1</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Press Release dated October 19, 2016.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">SIGNATURES</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Valmont Industries, Inc.</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Date:&#160; October 19, 2016</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">By:&#160; /s/ Mark C. Jaksich</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 21.6pt; LINE-HEIGHT: 13.7pt">Name: Mark C. Jaksich</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 21.6pt; LINE-HEIGHT: 13.7pt">Title:&#160;&#160; Executive Vice President and</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; MARGIN-LEFT: 57.6pt; LINE-HEIGHT: 13.7pt">Chief Financial Officer</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">EXHIBITS</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Description</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">99.1</div>
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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Press Release dated October 19, 2016.</div>
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<div style="FONT-SIZE: 20pt; FONT-FAMILY: Arial, sans-serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 22.8pt">News Release</div>
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<div style="FONT-SIZE: 14pt; FONT-FAMILY: Arial, sans-serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 15.95pt">For Immediate Release</div>
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<div style="FONT-SIZE: 14pt; FONT-FAMILY: Arial, sans-serif; TEXT-ALIGN: left; LINE-HEIGHT: 15.95pt"><font style="FONT-SIZE: 14pt; FONT-FAMILY: Arial, sans-serif; FONT-WEIGHT: bold">Contact: </font>Jeff Laudin</div>
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<div style="FONT-SIZE: 14pt; FONT-FAMILY: Arial, sans-serif; TEXT-ALIGN: right; LINE-HEIGHT: 15.95pt">October 19, 2016</div>
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<div style="FONT-SIZE: 14pt; FONT-FAMILY: Arial, sans-serif; TEXT-ALIGN: left; LINE-HEIGHT: 15.95pt"><font style="FONT-SIZE: 14pt; FONT-FAMILY: Arial, sans-serif; FONT-WEIGHT: bold">Phone:</font>&#160; 402-963-1158</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 16pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: center; LINE-HEIGHT: 18.25pt; TEXT-INDENT: 36pt">Valmont Reports Third Quarter 2016 Earnings</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Revenues were $610.2 million, down 3.5% year-over-year reflecting lower sales in the Utility Support Structures, Coatings and Energy and Mining segments</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Operating income on a GAAP basis was $53.2 million, up from $37.0 million last year. Before restructuring charges and impairments, operating income was $58.3 million, a slight decrease from last year&#8217;s $61.0 million</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Courier New', monospace; TEXT-ALIGN: left; MARGIN-LEFT: 54pt; LINE-HEIGHT: 13.7pt">o</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Improved profitability in the Energy and Mining, and Utility Support Structures segments was offset by lower profitability in the Coatings and Engineered Support Structures segments on an adjusted basis</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Courier New', monospace; TEXT-ALIGN: left; MARGIN-LEFT: 54pt; LINE-HEIGHT: 13.7pt">o</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">While steel prices declined during the quarter, largely erasing second quarter increases, Valmont&#8217;s third quarter average steel costs were slightly higher than last year. Aside from LIFO accounting effects, the increase did not have a significant impact on operating results</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Diluted EPS were $1.24 compared to $0.52 in 2015 (excluding restructuring expenses and impairments, diluted EPS were $1.48 and $1.39 in 2016 and 2015, respectively)</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: Symbol, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; LINE-HEIGHT: 13.7pt">&#183;</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">The Company incurred approximately $5.1 million of pre-tax restructuring expense this quarter, of which approximately $2.3 million was related to the previously announced $4.8 million 2016 Australia restructuring program. The remaining approximately $2.8 million expense was related to 2015 restructuring efforts</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Year-to-date, savings recognized from the 2015 restructuring approximated $17 million</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">During the quarter, the Company appointed <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><u>Stephen G. Kaniewski as President and Chief Operating Officer, effective October 1</u></font></div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">The Company repurchased 139,000 shares for $18.0 million during the quarter; $139 million remains on the current authorization</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">The Company is slightly lowering its annual guidance primarily to reflect recent weakness in the Coatings Segment. Adjusted diluted EPS are now expected to range between $6.23 and $6.35, (GAAP EPS $5.88 to $6.00).&#160; In response, coatings cost structure has been cut to better match current demand. The updated guidance meets the long-term earnings targets presented at the company&#8217;s February, 2016 investor day of achieving 10% adjusted EPS growth.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 18pt">&#8220;The market environment continued to be challenging. Sales declines were largely driven by lower international volumes in Utility Support Structures and weaker Coatings demand in North America,&#8221; said Mogens C. Bay, Valmont&#8217;s Chairman and Chief Executive Officer. &#8220;Despite slightly lower overall sales, volatile steel prices and operational challenges in the Coatings Segment, we continue to benefit from the restructuring and operational actions undertaken over the last 18 months, delivering operating income at 8.7% of sales, or 9.6% of sales before charges.&#8221;</div>

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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Summarized Financial Info.</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 10.25pt">Third<font style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif"><br>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 10.25pt">Year-to-date<font style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> 39 Weeks Ended</div>
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<td style="WIDTH: 11.75%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 10.25pt">24-Sep-16</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 10.25pt">&#160;</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 10.25pt">26-Sep-15</div>
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<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 10.25pt">24-Sep-16</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 10.25pt">&#160;</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 10.25pt">26-Sep-15</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Net sales</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;$&#160; 610,247</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;$&#160; 632,576</div>
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<td style="WIDTH: 2.48%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">$ 1,847,101</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">$ 1,985,096</div>
</td>
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<tr>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Operating income</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;53,240</div>
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<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,012</div>
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<td style="WIDTH: 2.48%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;187,411</div>
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<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;148,695</div>
</td>
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<tr>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">&#160;&#160;Operating income as a % of net sales GAAP</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">8.7%</div>
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<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.75%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">5.9%</div>
</td>
<td style="WIDTH: 2.48%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">10.1%</div>
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<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">7.5%</div>
</td>
</tr>

<tr>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Operating income Adjusted*</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,315</div>
</td>
<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.75%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;61,013</div>
</td>
<td style="WIDTH: 2.48%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;192,476</div>
</td>
<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;187,738</div>
</td>
</tr>

<tr>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">&#160;&#160;Operating income as a % of net sales Adjusted*</div>
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<td style="WIDTH: 11.75%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">9.6%</div>
</td>
<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.75%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">9.6%</div>
</td>
<td style="WIDTH: 2.48%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">10.4%</div>
</td>
<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">9.5%</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43.74%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Net earnings - GAAP</div>
</td>
<td style="WIDTH: 11.75%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;28,173</div>
</td>
<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.75%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,066</div>
</td>
<td style="WIDTH: 2.48%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;103,168</div>
</td>
<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.23%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;70,678</div>
</td>
</tr>

<tr>
<td style="WIDTH: 43.74%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Net earnings - Adjusted *</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;33,488</div>
</td>
<td style="WIDTH: 2.91%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.75%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;32,176</div>
</td>
<td style="WIDTH: 2.48%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;109,518</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;$&#160; &#160; &#160; &#160; 1.24</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;$&#160; &#160; &#160; &#160; 0.52</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Average Shares Outstanding - Diluted</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;$&#160; &#160; &#160; &#160; 1.48</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">Average Shares Outstanding - Diluted</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 10.25pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,534</div>
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<div style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 10.25pt">* Please see Reg. G reconciliation table on last page.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><a name="RANGE!A1:L37"><!--Anchor--></a>Third Quarter Segment Review</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><u>Infrastructure-related</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Engineered Support Structures </font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(33% of Sales)</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Poles, towers and components for the global lighting, traffic and wireless communication markets, and highway safety products.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Sales of $203.2 million were 2% higher than last year due to increased sales of wireless communication structures in the Asia Pacific region, particularly in Australia, which is undergoing an upgrade and expansion of their wireless network.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">In North America, sales of lighting and traffic products were higher, mostly driven by increased non-residential construction. Sales of wireless communication products were lower.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">In Europe, sales of lighting and traffic structures were flat with last year, reflecting continued weak markets and limited new infrastructure investments.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Operating income was $19.6 million or 9.6%, of sales ($20.2 million and 9.9% adjusted for restructuring) compared to $20.1 million, or 10.1% of sales in 2015 ($21.7 million and 10.9% adjusted for restructuring).</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Utility Support Structures </font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(25% of Sales)</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Steel and concrete structures for the global electric utility industry.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Sales of $150.7 million decreased 9% year-over-year, largely a result of lower sales in international markets, which are typically project-based. North American sales were comparable with last year. Higher volumes largely offset lower pricing associated with lower average steel costs. The North American market remains robust. In general, increased volumes and extending lead times point to tightening industry capacity.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Operating income increased to $16.0 million or 10.6% of sales ($16.6 million and 11.0% adjusted for restructuring) compared to $14.5 million or 8.8% of sales in 2015 ($15.7 million and 9.5% adjusted for restructuring), benefitting from continuing operational improvements in North America somewhat offset by the effect of lower international volumes.</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Coatings Segment </font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(11% of Sales)</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Global galvanizing, painting and anodizing services.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Sales of $70.1 million were 8% lower than last year, reflecting lower North American demand from both external and internal customers and a significant falloff in demand from the solar energy industry. The change in end market demand was sudden, as earlier in 2016 and last year, demand from solar energy customers was strong in anticipation of the expiration of certain energy tax credits, which did not materialize.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Operating income was $11.7 million, or 16.7% of sales, ($12.3 million and 17.5% adjusted for restructuring) compared to $3.1 million, or 4.1% of sales in 2015 ($14.2 million and 18.6% adjusted for restructuring and impairments).</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Aside from volume and factory deleverage from the impact of lower volumes, there was unexpected downtime due to kettle and crane repairs at certain galvanizing facilities. These operational issues are unusual and have been corrected to ensure efficient operational performance going forward. Our network of plants allowed us to serve our customers uninterrupted, but with temporary inefficiencies and higher costs. Partially offsetting the volume and operational matters was a $2.6 million reversal of a contingent purchase price accrual associated with an acquisition.</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Energy and Mining Segment </font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(13% of Sales)</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Offshore structures, engineered access systems and grinding media.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Segment sales of $81.6 million were 4% lower than last year due to lower grinding media revenues.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Operating income increased to $3.9 million or 4.8% of sales ($5.6 million and 6.8% adjusted for restructuring) compared to a loss of $4.3 million in 2015, (operating income of $3.6 million and 4.3% adjusted for restructuring and impairments). The increase was mostly driven by improved operational performance and the benefit of last year&#8217;s restructuring efforts in the Asia Pacific region to reduce cost while maintaining capability to serve customers.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><u>Agriculture-related</u></div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Irrigation Segment </font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(21% of Sales)</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify; LINE-HEIGHT: 13.7pt">Agricultural irrigation equipment, parts, services and tubular products.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Segment sales of $127.8 million were comparable with last year. In North America, the third quarter is the seasonal low period. Irrigation equipment sales increased, led by stronger international markets in Brazil and Sub-Saharan Africa. Tubing sales were lower, driven by weak demand from agricultural OEM&#8217;s and service center customers.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Operating income was flat at $14.2 million. Operating income as a percent of sales of 11.1% was also similar to last year.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Fourth Quarter Outlook:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">&#8220;We expect positive fourth quarter comparisons&#8221; Mr. Bay said. &#8220;On a positive note, Utility demand is firming in North America and we are shipping an international project during the quarter. Growth in the Engineered Support Structures Segment, should be driven by continued telecom strength in the Asia Pacific region. The Energy and Mining Segment is making good progress, and we expect favorable comparisons with last year. However, Coatings Segment sales are expected near current levels, which are weaker than last year&#8217;s fourth quarter. The operational issues we encountered in Coatings have been fixed and SG&amp;A and labor costs were adjusted. Our Irrigation Segment outlook remains cautious. We expect lower North American demand than last year due to crop price levels and related pressure on net farm income. International irrigation markets are expected to be solid. Our guidance for adjusted earnings per share for the year, based on the first three quarters&#8217; adjusted EPS of $4.82, is in the range of $6.23 to $6.35, (GAAP EPS $5.88 to $6.00).&#8221;</div>

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<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">An audio discussion of Valmont&#8217;s third quarter results </font>will be available live by</div>

<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Telephone by dialing 1-877-493-2981 and entering Conference ID#:15297121 or via Webcast at 8:00 a.m. CDT October 20, 2016 at <font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif"><u>https://engage.vevent.com/rt/valmontindustries_ao~15297121</u></font>.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">A replay is available through the above link or by telephone <font style="FONT-SIZE: 10pt; FONT-FAMILY: Calibri, sans-serif">(</font>855) 859-2056<font style="FONT-SIZE: 10pt; FONT-FAMILY: Calibri, sans-serif">&#160;</font>or +44 (0)1452550000, Conference ID#:15297121 beginning October 20, 2016 at 10:00 a.m. CDT through 12:00 p.m. CDT on October 28, 2016. The Company&#8217;s slide presentation for the call&#160;will be simultaneously available&#160;on the investor relations tab at <font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><u>www.valmont.com</u></font> under Investor Relations.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">Valmont is a global leader, designing and manufacturing highly engineered products that support global infrastructure development and agricultural productivity. Its products for infrastructure serve highway, transportation, wireless communication, electric transmission, and industrial construction and energy markets. Its mechanized irrigation equipment for large scale agriculture improves farm productivity while conserving fresh water resources. In addition, Valmont provides coatings services that protect against corrosion and improve the service lives of steel and other metal products.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt; TEXT-INDENT: 36pt">This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management&#8217;s perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont&#8217;s control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont&#8217;s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, risk factors described from time to time in Valmont&#8217;s reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.</div>

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<table id="z66c3520e05d6423fab1e494b807382c3" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: bottom" colspan="9">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">VALMONT INDUSTRIES, INC. AND SUBSIDIARIES</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(Dollars in thousands, except per share amounts)</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(unaudited)</font></div>
</td>
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
<td style="WIDTH: 28.68%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" colspan="3">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">Third Quarter<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> 13 Weeks Ended</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px">&#160;</td>
<td style="WIDTH: 29.43%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" colspan="3">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">Year-to-Date<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font> 39 Weeks Ended</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">24-Sep-16</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">&#160;</div>
</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">26-Sep-15</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 2.14%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">&#160;</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 14.57%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">24-Sep-16</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 2.14%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">&#160;</div>
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<td style="BORDER-TOP: #000000 2px solid; WIDTH: 12.71%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">26-Sep-15</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Net sales</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160; &#160; 610,247</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160;&#160; 632,575</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160; 1,847,101</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; 1,985,096</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Cost of sales</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;455,224</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;475,824</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,355,992</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;1,493,343</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Gross profit</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;155,023</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;156,751</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;491,109</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;491,753</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Selling, general and administrative expenses</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;101,783</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;104,539</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;303,698</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;327,858</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Impairment of goodwill and intangible assets</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15,200</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15,200</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Operating income</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;53,240</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,012</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;187,411</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;148,695</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Other income (expense)</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Interest expense</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(11,100)</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(11,120)</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(33,276)</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(33,480)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Interest income</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;771</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;905</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,289</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,395</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Investment gain (loss)</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,455</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2,253)</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;591</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(983)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Other</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(577)</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,023</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(139)</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;741</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(9,451)</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(11,445)</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(30,535)</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(31,327)</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Earnings before income taxes and equity in</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;earnings of nonconsolidated subsidiaries</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;43,789</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;25,567</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;156,876</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;117,368</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Income tax expense</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,268</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,018</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;49,742</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;42,873</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Net earnings</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;29,521</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,549</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;107,134</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;74,495</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Less:&#160; Earnings attributable to non-controlling interests</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,348)</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,483)</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(3,966)</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(3,817)</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Net earnings attributable to Valmont Industries, Inc.</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160; 28,173</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160;&#160; 12,066</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160;&#160; 103,168</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160;&#160; 70,678</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Average shares outstanding (000's) - Basic</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;22,505</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,057</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;22,602</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,420</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Earnings per share - Basic</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; 1.25</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160; &#160;&#160; 0.52</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; 4.56</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 3.02</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Average shares outstanding (000's) - Diluted</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;22,659</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,170</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;22,741</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,534</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Earnings per share - Diluted</div>
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<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; 1.24</u></div>
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<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Cash dividends per share</div>
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<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 0.375</u></div>
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<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 0.375</u></div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160; &#160;&#160; 1.125</u></div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
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</td>
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
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<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

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<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: bottom" colspan="9">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">VALMONT INDUSTRIES, INC. AND SUBSIDIARIES</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">SUMMARY OPERATING RESULTS</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(Dollars in thousands)</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
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</td>
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 28.68%; VERTICAL-ALIGN: bottom" colspan="3">
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 29.43%; VERTICAL-ALIGN: bottom" colspan="3">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">Year-to-Date<font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
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</td>
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">24-Sep-16</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">&#160;</div>
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<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">26-Sep-15</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">24-Sep-16</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">26-Sep-15</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Net sales</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Engineered Support Structures</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160; &#160; 203,184</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160;&#160; 199,410</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160; &#160;&#160; 584,071</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160;&#160; 578,070</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Utility Support Structures</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;150,667</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;164,684</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;446,432</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;503,954</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Energy and Mining</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;81,552</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;84,732</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;234,693</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;259,095</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Coatings</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;70,082</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;76,201</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;213,961</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;226,654</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Infrastructure products</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;505,485</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">#</div>
</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;525,027</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,479,157</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;1,567,773</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Irrigation</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;127,809</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;126,775</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;438,575</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;474,655</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Other</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,691</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,202</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Less: Intersegment sales</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(23,047)</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(20,918)</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(70,631)</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(63,534)</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; 610,247</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160;&#160; 632,575</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; 1,847,101</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; 1,985,096</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">Operating Income</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Engineered Support Structures</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160; &#160; &#160; 19,577</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160; &#160;&#160; 20,073</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 54,753</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;$&#160; &#160; &#160;&#160; 45,742</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Utility Support Structures</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16,030</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,505</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;48,326</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;40,261</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Energy &amp; Mining</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,941</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(4,302)</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,184</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,762</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Coatings</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;11,696</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,145</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,132</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;22,006</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Infrastructure products</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;51,244</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">#</div>
</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;33,421</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;149,395</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;110,771</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Irrigation</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,154</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,194</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;70,761</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;76,233</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Other</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,386)</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(3,765)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;Corporate</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(12,158)</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(9,217)</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(32,745)</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(34,544)</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160; 53,240</u></div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160;&#160; 37,012</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160;&#160; 187,411</u></div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 13.7pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160;&#160; 148,695</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
</table>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-TOP: 12pt; LINE-HEIGHT: 13.7pt">Valmont has aggregated its business segments into five reportable segments as follows.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Engineered Support Structures:</font> This segment consists of the manufacture of engineered metal structures and components for global lighting and traffic, wireless communication, and roadway safety.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Utility Support Structures:</font> This segment consists of the manufacture of engineered steel and concrete structures for the global utility industry.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Energy and Mining</font>: This segment includes the manufacture of access systems applications, forged steel grinding media, and offshore oil and gas and wind energy structures;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Coatings:</font> This segment consists of global galvanizing, painting and anodizing services.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Irrigation:</font> This segment consists of the manufacture of agricultural irrigation equipment and related parts and services worldwide.</div>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<table id="z4fb53d7b25c247e48e64b1c6fc8a66f3" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: bottom" colspan="5">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">VALMONT INDUSTRIES, INC. AND SUBSIDIARIES</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">CONDENSED CONSOLIDATED BALANCE SHEETS</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(Dollars in thousands)</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(unaudited)</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">24-Sep-16</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt">26-Sep-15</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 13.7pt"><u>ASSETS</u></div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Current assets:</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Cash and cash equivalents</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">$&#160; &#160; &#160; &#160; &#160; 349,375</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 312,851</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Accounts receivable, net</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;455,692</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;501,403</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Inventories</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;379,625</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;368,290</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Prepaid expenses</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;69,231</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;52,208</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Refundable and deferred income taxes</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;20,342</u></div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;44,736</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total current assets</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,274,265</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,279,488</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Property, plant and equipment, net</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;525,640</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;543,235</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Goodwill and other assets</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;584,138</u></div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;666,978</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160;&#160; 2,384,043</u></div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; 2,489,701</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt"><u>LIABILITIES AND SHAREHOLDERS' EQUITY</u></div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Current liabilities:</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Current installments of long-term debt</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 895</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; 1,099</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Notes payable to banks</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;853</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,496</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Accounts payable</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;170,888</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;186,581</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Accrued expenses</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;178,834</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;175,028</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;Dividend payable</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,455</u></div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,649</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total current liabilities</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;359,925</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;372,853</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Long-term debt, excluding current installments</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;755,584</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;764,823</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Other long-term liabilities</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;266,233</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;286,248</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Shareholders' equity</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,002,301</u></div>
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<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,065,777</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160;&#160; 2,384,043</u></div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; 2,489,701</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
</table>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<table id="z123dd5df7a724cee9170d4c29e92f73c" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 100%; VERTICAL-ALIGN: bottom" colspan="5">
<div style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center; LINE-HEIGHT: 13.7pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(unaudited) and dollars in thousands</font></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">Year to Date<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif"><br>
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</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 12.55pt">Year to Date<font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif"><br>
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</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt"><u>Cash flows from operating activities</u></div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Net Earnings</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">$&#160; &#160; &#160; &#160; &#160; 107,134</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160;&#160; 74,495</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Depreciation and Amortization</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;61,242</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;70,859</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Impairment of assets - restructuring activities</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;618</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,659</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Impairment of goodwill and trade names</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15,200</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Change in working capital</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(31,596)</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;8,637</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Other</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(10,144)</u></div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;972</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Net cash flows from operating activities</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;127,254</u></div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;182,822</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt"><u>Cash flows from investing activities</u></div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Purchase of property, plant, and equipment</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(42,233)</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(34,447)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Acquisitions, net of cash acquired</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Other</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,114</u></div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;9,236</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Net cash flows from investing activities</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(41,119)</u></div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(25,211)</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt"><u>Cash flows from financing activities</u></div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Proceeds from long-term borrowings</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;37,000</div>
</td>
</tr>

<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Principal payments on long-term borrowings</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,563)</div>
</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;Dividends paid</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Net cash flows from financing activities</div>
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Effect of exchange rates on cash and cash equivalents</div>
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<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;301</div>
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<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Cash and cash equivalents - beginning of year</div>
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<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
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<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 12.55pt">Cash and cash equivalents - end of period</div>
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<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">
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<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 12.55pt"><u style="BORDER-BOTTOM: 1px solid">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 312,851</u></div>
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<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
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<tr>
<td style="WIDTH: 55.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 17.31%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 3.85%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 20.19%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

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</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">SUMMARY OF EFFECT OF SIGNIFICANT NON-RECURRING ITEMS ON REPORTED RESULTS</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">REGULATION G RECONCILIATION</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(Dollars in thousands, except per share amounts)</font><font style="FONT-SIZE: 12pt; FONT-FAMILY: 'Times New Roman', serif"><br>
</font><font style="FONT-SIZE: 11pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(unaudited)</font></div>
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<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
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<table id="z358d692f1e2f4d3381ba8938c3d8e41b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">The non-GAAP tables below disclose the impact on (a) diluted earnings per share of (1) restructuring costs, (2) non-recurring deferred income tax expense, (3) asset impairment charges in 2015, and (4) the non-cash after-tax loss or gain associated with adjusting the fair value of Delta EMD Pty. Ltd (Delta EMD) shares owned to its quoted market price at September 24, 2016, and September 26, 2015, (b) segment operating income from restructuring costs and asset impairment charges in 2015. Amounts may be impacted by rounding. We believe it is useful when considering company performance for the non-GAAP adjusted net earnings and operating income to be taken into consideration by management and investors with the related reported GAAP measures.</div>
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<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
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<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Third Quarter Ended Sept. 24, 2016</div>
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<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Diluted earnings per share</div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Diluted earnings per share</div>
</td>
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<tr>
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<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Net earnings attributable to Valmont Industries, Inc. - as reported</div>
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<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 28,173</div>
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<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; 1.24</div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 103,168</div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 4.54</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Restructuring expenses - after tax</div>
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<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,520</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.16</div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,520</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.15</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Deferred tax expense - Change in UK rate</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,860</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.08</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,860</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.08</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Fair market value adjustment, Delta EMD - after-tax</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(65)</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;970</div>
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<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.04</div>
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Net earnings attributable to Valmont Industries, Inc. - Adjusted</div>
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<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 33,488</div>
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<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; 1.48</div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
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<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 109,518</div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 4.82</div>
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Average shares outstanding (000's) - Diluted</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;22,659</div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;22,741</div>
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<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<table id="z46ef7ec26bd14cc5b5d9493d6d5a6deb" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.4pt">* With respect to our annual 2016 diluted EPS guidance, we are estimating GAAP EPS of $5.88 to $6.00.&#160; This assumes $1.7 million (after-tax) of estimated fourth quarter restructuring expense.&#160; When this restructuring expense and the same year-to-date third quarter 2016 adjustments (detailed above) are added back, that results in an adjusted diluted EPS range of $6.23 to $6.35 for 2016.*</div>
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<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<table id="z67cd0b4b0adf40b2aa5901bde285f68b" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Third Quarter Ended Sept. 26, 2015</div>
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<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Diluted earnings per share</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Year-to-Date Sept. 26, 2015</div>
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<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Diluted earnings per share</div>
</td>
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<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Net earnings attributable to Valmont Industries, Inc. - as reported</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 12,066</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; 0.52</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 70,678</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 3.00</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Restructuring expenses - after tax</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;6,310</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.27</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16,634</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.71</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Impairment of goodwill and trade names - after tax</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,370</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.58</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;13,370</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.57</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Fair market value adjustment, Delta EMD - after-tax</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">430</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;0.02</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(4)</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">NM</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Net earnings attributable to Valmont Industries, Inc. - Adjusted</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 32,176</div>
</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; 1.39</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 100,678</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 4.28</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Average shares outstanding (000's) - Diluted</div>
</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,170</div>
</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;23,534</div>
</td>
</tr>

<tr>
<td style="WIDTH: 36.97%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.77%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.43%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.64%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.57%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.14%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.71%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
</table>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<table id="zef3e15723aff47cb8b979e056c228c05" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 61.62%; VERTICAL-ALIGN: bottom" colspan="7">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt"><u>For the Third Quarter Ended Sept. 24, 2016</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt"><u>Segment Operating Income Reconciliation</u></div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Operating Income- As Reported</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Restructuring expenses - before tax</div>
</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Adjusted Operating Income</div>
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<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Net Sales</div>
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<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
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<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Engineered Support Structures</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160;&#160; 19,577</div>
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<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 587</div>
</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 20,164</div>
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<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 203,184</div>
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<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">9.6%</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">9.9%</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Utility Support Structures</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16,030</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;528</div>
</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;16,558</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;150,667</div>
</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">10.6%</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">11.0%</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Energy &amp; Mining</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,941</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,610</div>
</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,551</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;81,552</div>
</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">4.8%</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">6.8%</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Coatings</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;11,696</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;545</div>
</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;12,241</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;70,082</div>
</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">16.7%</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">17.5%</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Irrigation</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,154</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,154</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;127,809</div>
</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">11.1%</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">11.1%</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Corporate/Other</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(12,158)</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,795</div>
</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(10,363)</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Consolidated Results</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 11.61%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160;&#160; 53,240</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 12.9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160;&#160; 5,065</div>
</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 14.16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;58,305</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 610,247</div>
</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">8.7%</div>
</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">9.6%</div>
</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 38.38%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.61%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.88%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.9%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.71%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 14.16%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.23%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 15.13%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>
</table>

<div style="LINE-HEIGHT: 11.4pt"><br style="LINE-HEIGHT: 11.4pt">
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade">
</div>
</div>

<table id="z9c7cca01a51741fd9910f575de020ea8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 66.75%; VERTICAL-ALIGN: bottom" colspan="9">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt"><u>For the Third Quarter Ended Sept. 26, 2015</u></div>
</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt"><u>Segment Operating Income Reconciliation</u></div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Operating Income- As Reported</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Restructuring expenses - before tax</div>
</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Impairment of goodwill and TM - before tax</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Adjusted Operating Income</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; LINE-HEIGHT: 11.95pt">Net Sales</div>
</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Engineered Support Structures</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160;&#160; 20,073</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160;&#160; 1,634</div>
</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160; -</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 21,707</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160;&#160; 199,410</div>
</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">10.1%</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">10.9%</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Utility Support Structures</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,505</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,159</div>
</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;15,664</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;164,684</div>
</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">8.8%</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">9.5%</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Energy &amp; Mining</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(4,302)</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,934</div>
</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;5,000</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,632</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;84,732</div>
</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">-5.1%</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">4.3%</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Coatings</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;3,145</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 806</div>
</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;10,200</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,151</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;76,201</div>
</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">4.1%</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">18.6%</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Irrigation</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,194</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">52</div>
</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;14,246</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;126,775</div>
</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">11.2%</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">11.2%</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Corporate/Other</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(10,603)</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2,215</div>
</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(8,388)</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,691</div>
</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">Consolidated Results</div>
</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 10.06%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160;&#160; 37,012</div>
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<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 11.18%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160;&#160; 8,800</div>
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<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 12.27%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160;&#160; 15,200</div>
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<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="BORDER-TOP: #000000 2px solid; WIDTH: 13.11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; 61,013</div>
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<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">&#160;$&#160; &#160; &#160;&#160; 632,575</div>
</td>
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<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
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<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left; LINE-HEIGHT: 11.95pt">&#160;&#160;Op Inc. &amp; Adjusted Op Inc. as a % of Sales</div>
</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">5.9%</div>
</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 10.5pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right; LINE-HEIGHT: 11.95pt">9.6%</div>
</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 33.25%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 10.06%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.49%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.18%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 2.35%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 12.27%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 13.11%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 1.93%; VERTICAL-ALIGN: bottom">&#160;</td>
<td style="WIDTH: 11.43%; VERTICAL-ALIGN: bottom">&#160;</td>
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