<SEC-DOCUMENT>0001003297-11-000103.txt : 20110315
<SEC-HEADER>0001003297-11-000103.hdr.sgml : 20110315
<ACCEPTANCE-DATETIME>20110315092809
ACCESSION NUMBER:		0001003297-11-000103
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20101231
FILED AS OF DATE:		20110315
DATE AS OF CHANGE:		20110315

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALAMO GROUP INC
		CENTRAL INDEX KEY:			0000897077
		STANDARD INDUSTRIAL CLASSIFICATION:	FARM MACHINERY & EQUIPMENT [3523]
		IRS NUMBER:				741621248
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13854
		FILM NUMBER:		11687217

	BUSINESS ADDRESS:	
		STREET 1:		1627 E WALNUT
		CITY:			SEGUIN
		STATE:			TX
		ZIP:			78155
		BUSINESS PHONE:		8303791480

	MAIL ADDRESS:	
		STREET 1:		P.O. BOX 549
		STREET 2:		1627 EAST WALNUT
		CITY:			SEGUIN
		STATE:			TX
		ZIP:			78155
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>esalamo10k.htm
<TEXT>
<html>

<head>
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<title>Alamo Group Form 10-K</title>



</head>

<body lang=EN-US link=blue vlink=purple>

<div style='page:Section1;'>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>WASHINGTON, D.C. 20549</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Form 10-K</font></b></p>
<div align="center">
	<table border="0" style="border-collapse: collapse" width="75%" id="table1">
		<tr>
			<td nowrap>
			<p align="right"><font size="2">[X]</font></td>
			<td width="1017">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">ANNUAL REPORT PURSUANT TO SECTION
  13 OR 15(d)</font></p></td>
		</tr>
		<tr>
			<td nowrap>&nbsp;</td>
			<td width="1017">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">OF THE SECURITIES EXCHANGE ACT OF
  1934</font></p></td>
		</tr>
		<tr>
			<td nowrap>&nbsp;</td>
			<td width="1017">&nbsp;</td>
		</tr>
		<tr>
			<td nowrap>&nbsp;</td>
			<td width="1017">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">For the fiscal year ended
  December&nbsp;31, 2010</font></p></td>
		</tr>
		<tr>
			<td nowrap>
			<p align="right"><font size="2">[X]</font></td>
			<td width="1017">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">TRANSITION REPORT PURSUANT TO SECTION
  13 OR 15(d)</font></p></td>
		</tr>
		<tr>
			<td nowrap>&nbsp;</td>
			<td width="1017">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">OF THE SECURITIES EXCHANGE ACT OF
  1934</font></p></td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Commission file number 0-21220</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">ALAMO GROUP INC.</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(Exact name of registrant as
  specified in its charter)</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;<table border="0" style="border-collapse: collapse" width="100%" id="table2">
	<tr>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">DELAWARE</font></p></td>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">74-1621248</font></p></td>
	</tr>
	<tr>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(State or other jurisdiction of
  </font></p></td>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(I.R.S. Employer</font></p></td>
	</tr>
	<tr>
		<td width="50%">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
		<font size="2">incorporation or organization)</font></p></td>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Identification Number)</font></p></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:10.0pt;text-align:center; margin-left:0in; margin-right:0in'>
<font size="2">1627 East Walnut, Seguin, Texas
  78155</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">(Address of principal executive
  offices, including zip code)</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2"><i>&nbsp;</i></font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">830-379-1480<br></font><i><font size="2">(Registrant&#146;s telephone number, including area code)</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Securities
  registered pursuant to Section 12(b) of the Act</font><b><font size="2">:</font></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;<table border="0" style="border-collapse: collapse" width="100%" id="table3">
	<tr>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Title of each class</font></p></td>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Name of each exchange</font></p></td>
	</tr>
	<tr>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Common Stock, par value</font></p></td>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">on which registered</font></p></td>
	</tr>
	<tr>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$.10 per share</font></p></td>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">New York Stock Exchange</font></p></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font><p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-top:10.0pt;text-align:
  center; margin-left:0in; margin-right:0in'>SECURITIES REGISTERED
  PURSUANT TO SECTION 12(g) OF THE ACT:&nbsp; NONE</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicate
  by check mark if the registrant is a well-known seasoned issuer, as defined
  in Rule 405 of the Securities Act.  Yes [&nbsp;&nbsp;]  No [X] </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicate
  by check mark if the registrant is not required to file reports pursuant to
  Section 13 or Section 15(d) of the Exchange Act.  Yes [&nbsp; ]  No [X]</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font><p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicate
  by check mark whether the registrant (1) has filed all reports required to be
  filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
  the preceding 12 months (or for such shorter period that the registrant was
  required to file such reports), and (2) has been subject to such filing
  requirement for the past 90 days. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Yes [X]&nbsp;
  No [&nbsp;&nbsp; ]</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicate
  by check mark whether the registrant has submitted electronically and posted
  on its corporate Web site, if any, every Interactive Data File required to be
  submitted and posted pursuant to Rule 405 of Regulation S-T during the
  preceding 12 months (or for such shorter period that the registrant was
  required to submit and post such files). Yes [&nbsp;&nbsp; ] No [&nbsp;&nbsp; ]
	</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font><p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicate
  by check mark if disclosure of delinquent filers pursuant to Item 405 of
  Regulation S-K is not contained herein, and will not be contained, to the
  best of Registrant&#146;s knowledge, in definitive proxy or information statements
  incorporated by reference in Part III of this Form 10-K or any amendment to
  this Form 10&#8209;K. [&nbsp;&nbsp; ]</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font><p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicate
  by check mark whether registrant is a large accelerated filer, an accelerated
  filer, a non-accelerated filer, or a smaller reporting company. See
  definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller
  reporting company&#148; in Rule 12b-2 of the  Exchange Act.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<table border="0" style="border-collapse: collapse" width="100%" id="table4">
	<tr>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Large accelerated filer&nbsp;&nbsp; [&nbsp;&nbsp;]</font></p>
		</td>
		<td width="25%"><font size="2" face="Arial">Accelerated filer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
		<td width="25%"><font size="2" face="Arial">[X]</font></td>
	</tr>
	<tr>
		<td width="50%" height="22">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Non-accelerated filer&nbsp;&nbsp;&nbsp;&nbsp; [&nbsp;&nbsp;]</font></p>
		</td>
		<td width="25%" height="22"><font size="2" face="Arial">Smaller reporting company&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
		<td width="25%" height="22"><font size="2" face="Arial">[&nbsp;&nbsp;]</font></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicate
  by check mark whether the registrant is a shell company (as defined in Rule
  12b-2 of the Exchange Act). Yes [&nbsp;&nbsp;]  No [X]</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font><p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
  aggregate market value of the voting stock (which consists solely of shares
  of common stock) held by non-affiliates of the registrant as of June 30, 2010
  (based upon the last reported sale price of $21.70 per share) was
  approximately $183,325,701 on such date.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font><p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
  number of shares of the registrant&#146;s common stock, par value $.10 per share,
  outstanding as of February 26, 2011 was 11,831,979 shares.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font><p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Documents
  incorporated by reference:&nbsp; Portions of the registrant&#146;s proxy statement
  relating to the 2011 Annual Meeting of Stockholders to be held on May 5,
  2011, have been incorporated by reference herein in response to Part III.</font></p>
<p></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">ALAMO GROUP INC. AND CONSOLIDATED
SUBSIDIARIES</font></b></p>
<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>FORM 10-K</p>
<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>TABLE OF CONTENTS</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt;text-align:justify'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">PART I</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Page</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Item 1.</font></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Item 1A.</font></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Item 1B.</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Business">Business</a> </font></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Risk_Factors">Risk Factors</a></font></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Unresolved_Staff_Comments">Unresolved Staff Comments</a></font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3</font></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">13</font></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">19</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 2.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Properties_">Properties</a> </p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>20</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 3.
		</p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Legal_Proceedings">Legal Proceedings</a></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>21</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 4.
		</p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Remove_and_Reserved">[Removed and Reserved]</a></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>21</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  center; margin-left:0in; margin-right:0in; margin-top:0in'>PART II</p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:10.0pt;text-align:
  right'>&nbsp;</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 5.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Market_for_Registrant'
s_Common_Equity">Market for Registrant&#146;s Common Equity, Related Stockholder Matters and
  Issuer Purchases of Equity Securities</a></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>22</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 6.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Selected_Financial_Data">Selected Financial Data</a></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>24</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Item 7.</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Management'
s_Discussion_and_Analysis_">Management&#146;s Discussion and Analysis of Financial
  Condition and Results of Operations</a></font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>24</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 7A.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Quantitative_and_Qualitative_Disclosures_about_Market_Risk">Quantitative and Qualitative Disclosures about Market Risk</a></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>32</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 8.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Financial_Statements_and_Supplementary_Data">Financial Statements and Supplementary Data</a></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>33</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Item 9.</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Item_9._Changes_">Changes
  in and Disagreements with Accountants on Accounting and Financial Disclosure</a></font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>33</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 9A.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Controls_and_Procedures_">Controls and Procedures</a></font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>34</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 9B.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Other_Information">Other Information</a></font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>34</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">PART III</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:10.0pt;text-align:
  right'>&nbsp;</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 10.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Directors,_Executive_Officers_and_Corporate_Governance">Directors, Executive Officers and Corporate Governance</a></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>34</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 11.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Executive_Compensation">Executive Compensation</a></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>34</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 12.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Item_12._Security">Security Ownership of Certain Beneficial Owners and Management and
  Related Stockholder Matters</a></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>35</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 13.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Item_13._Certain">Certain Relationships, Related Transactions, and Director Independence</a></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>36</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 14.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Item_14._Principal_Accountant_">Principal Accountant Fees and Services</a></font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>36</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">PART IV</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:10.0pt;text-align:
  right'>&nbsp;</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Item 15.</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Item_15._Exhibits">Exhibits and Financial Statement Schedules</a>
		</p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>36</p></td>
	</tr>
	<tr style='height:.3in'>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in;margin-right:-9.0pt;margin-bottom:
  10.0pt;margin-left:0in'><font size="2"><a href="#INDEX_TO_EXHIBITS_">Index
  to Consolidated Financial Statements </a> </font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  right; margin-left:0in; margin-right:0in; margin-top:0in'>37</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:-9.0pt;margin-bottom:
  10.0pt;margin-left:0in'>&nbsp;</p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:-9.0pt;margin-bottom:
  10.0pt;margin-left:0in'>&nbsp;</p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:10.0pt;text-align:
  right'>&nbsp;</p></td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 2 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>PART I</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold'>Item 1.
<a name="Business">Business</a></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">Unless the context otherwise
requires, the terms &#147;the Company,&#148;&nbsp; &#147;we,&#148; &#147;our&#148; and &#147;us&#148; refer to Alamo Group
Inc. and its subsidiaries on a consolidated basis.</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">General</font></b></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";background:white; margin-left:0in; margin-right:0in; margin-top:0in'>
<font style="font-size: 10.0pt">&nbsp;</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in;background:white; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The Company is a leader in the
design, manufacture, distribution and service of high quality equipment for
right-of-way maintenance and agriculture. The Company&#146;s products include
tractor-mounted mowing and other vegetation maintenance equipment, street
sweepers, excavators, vacuum trucks, snow removal equipment, pothole patchers,
zero turn radius mowers, agricultural implements and related aftermarket parts
and services. The Company emphasizes high quality, cost-effective products for
its customers and strives to develop and market innovative products while
constantly monitoring and seeking to contain its manufacturing and overhead
costs. The Company has a long-standing strategy of supplementing its internal
growth through acquisitions of businesses or product lines that currently
complement, command, or have the potential to achieve a meaningful share of
their niche markets. The Company has approximately 2,300 employees and operates
a total of eighteen plants in North America, Europe and Australia. The Company
sells its products primarily through a network of independent dealers and
distributors, governmental end-users, related independent contractors, as well
as to the agricultural and commercial turf markets. The Company operates
primarily in the United States, England, France, Canada and Australia. </font>
</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in;background:white'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";background:white; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The predecessor corporation to Alamo Group Inc. was
incorporated in the State of Texas in 1969, as a successor to a business that
began selling mowing equipment in 1955, and Alamo Group Inc. was reincorporated
in the State of Delaware in 1987. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">History</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Since its founding in 1969, the Company has focused on
satisfying customer needs through geographic market expansion, product
development and refinement, and selected acquisitions. The Company&#146;s first
products were based on rotary cutting technology. Through acquisitions, the Company
added flail cutting technology in 1983 and sickle-bar cutting technology in
1984. The Company added to its presence in the industrial and governmental
vegetation markets with the acquisition of Tiger<sup> </sup>Corporation <i>(&#147;Tiger&#148;)</i>
in late 1994.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company entered the agricultural mowing markets in
1986 with the acquisition of Rhino Products Inc.<i> (&#147;Rhino&#148;)</i>, a leading
manufacturer in this field. With this acquisition, the Company embarked on a
strategy to increase the <i>Rhino</i> dealer distribution network during a period
of industry contraction. The addition of M&amp;W Gear Company<i> (&#147;M&amp;W&#148;)</i>
in early 1995 allowed the Company to enter into the manufacturing and
distribution of tillage equipment, which complements the <i>Rhino</i>
distribution network. <i>M&amp;W</i> has been integrated into the agricultural
marketing group, utilizing the same sales force to cross sell <i>Rhino </i>and
<i>M&amp;W</i>
products. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 1991, the Company began its international expansion
with the acquisition of McConnel Ltd<i>. (&#147;McConnel&#148;)</i>, a United Kingdom
(&#147;U.K.&#148;) manufacturer of vegetation maintenance equipment, principally
hydraulic boom-mounted hedge and grass cutters and related parts.
Bomford-Turner Ltd<i>. (&#147;Bomford&#148;)</i>, also a U.K. company, was acquired in
1993. <i>Bomford</i> is a manufacturer of heavy-duty, tractor-mounted grass and
hedge mowing equipment. <i>McConnel</i> and <i>Bomford</i> sell their products
to dealers and distributors through their respective sales forces.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 1994, the Company acquired Signalisation Moderne
Autoroutiere S.A<i>. (&#147;SMA&#148;)</i> located in Orleans, France. <i>SMA</i>
manufactures and sells principally a line of heavy-duty, tractor-mounted grass
and hedge mowing equipment and associated replacement parts primarily to
departments of the French government. This acquisition, along with the
acquisitions of Forges Gorce, a flail blade manufacturer in France, in 1996 and
Rousseau Holdings S.A. (&#147;<i>Rousseau</i>&#148;), a leading French manufacturer of
hedge and verge mowers, in 2004, when combined with <i>McConnel</i> and <i>Bomford,
</i>has made the Company one of the largest manufacturers in the European market
for the kind of equipment sold by the Company.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 1995, the Company expanded its business in the
agricultural market with the acquisition of Herschel Corporation<i>
(&#147;Herschel&#148;)</i>, a leading manufacturer and distributor of aftermarket farm
equipment replacement and wear parts.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 3 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 2000, the Company acquired Schwarze Industries, Inc<i>.
(&#147;Schwarze&#148;)</i>. <i>Schwarze</i> is a manufacturer of a broad range of street
sweeping equipment which is sold to governmental agencies and contractors. The
Company believes the <i>Schwarze</i> sweeper products fit the Company&#146;s
strategy of identifying product offerings with brand recognition in the
industrial markets the Company serves.  In 2004, the Company purchased the
pothole patcher from Wildcat Manufacturing, Inc. The product line was merged
into the <i>Schwarze</i> operation and is complementary to its current product
offerings.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 2000, the Company purchased the product line and
associated assets of Twose of Tiverton Ltd.<i> (&#147;Twose&#148;)</i> in the U.K. and
incorporated its production into the existing facilities at <i>McConnel</i> and
<i>Bomford</i> while maintaining its own sales force and dealer distribution
network. <i>Twose</i> was a small regional manufacturer of power arm flail
mowers and parts, as well as harrows and rollers, which strengthened the
Company&#146;s market leadership position in the U.K.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 2000, the Company acquired Schulte Industries Ltd.
and its related entities <i>(&#147;Schulte&#148;)</i>. <i>Schulte</i> is a Canadian
manufacturer of mechanical rotary mowers, snow blowers, and rock removal
equipment. <i>Schulte</i> strengthened the Company&#146;s Canadian presence in both
marketing and manufacturing. It also expanded the Company&#146;s range of large,
heavy-duty rotary mowers.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 2001, the Company acquired all of the assets of SMC
Corporation <i>(&#147;SMC&#148;). SMC</i> manufactures front-end loaders and backhoes principally
for Original Equipment Manufacturer (&#147;OEM&#148;) customers and its own <i>SMC</i>
brand. This acquisition expanded the product range of our agricultural division
by branding a line of loaders for <i>Rhino</i>.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 2002, the Company purchased inventory, fixed assets
and certain other assets of Valu-Bilt Tractor Parts <i>(&#147;Valu-Bilt&#148;)</i>, a
subsidiary of Quality Stores, Inc., located in Des Moines, Iowa. <i>Valu-Bilt</i>
is a distributor of new, used and rebuilt tractor parts and other agricultural
spare and wear parts sold directly to customers through its catalog and the
internet and on a wholesale basis to dealers. Subsequent to the purchase, the
operations of <i>Valu-Bilt</i> in Des Moines, Iowa, were consolidated into the
Company&#146;s <i>Herschel</i> facility in Indianola, Iowa. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 2002, the Company purchased substantially all of
the assets of Faucheux Industries S.A. <i>(&#147;Faucheux&#148;)</i>, a leading French
manufacturer of front-end loaders and attachments. The Company acquired <i>Faucheux</i>
out of administration, a form of bankruptcy in France. This acquisition
broadened the range of our agricultural implements offered in the French.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 2005, the Company, through its European subsidiary
Alamo Group (EUR) Ltd., acquired 100% of the issued and outstanding stock of
Spearhead Machinery Limited <i>(&#147;Spearhead&#148;) </i>and subsequently merged its
manufacturing operations into <i>Bomford</i>&#146;s facility. <i>Spearhead</i>
manufactures a range of tractor-mounted vegetation maintenance equipment,
including reach mowers, flail mowers and rotary cutters. This acquisition
extended our product lines and market coverage in Europe.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In early 2006, the Company purchased substantially all
of the assets of the Gradall excavator business <i>(&#147;Gradall&#148;)</i> of JLG
Industries, Inc. including their manufacturing plant in New Philadelphia, Ohio.
<i>Gradall</i> is a leading manufacturer of both wheeled and crawler telescopic
excavators in North America. This acquisition enhanced our Industrial Division
product offering sold to governmental buyers and related contractors for
maintenance along right-of-ways. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In 2006, the Company purchased the vacuum truck and
sweeper lines of Clean Earth Environmental Group, LLC and Clean Earth Kentucky,
LLC (collectively referred to as <i>&#147;VacAll&#148;</i>)<i>. </i>This includes the
product lines, inventory and certain other assets that relate to this business.
The production of the vacuum truck line was moved to the <i>Gradall</i>
facility in New Philadelphia, Ohio.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In, 2006,
the Company acquired 100% of the ownership interests in<i> </i>Nite-Hawk
Sweepers LLC <i>(&#147;Nite-Hawk&#148;)</i>, a manufacturer of truck mounted sweeping equipment
primarily for the contract sweeping market, which expanded its presence in that
market and complements its <i>Schwarze</i> sweeper line. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 4 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On March 6, 2007, the Company purchased Henke
Manufacturing Corporation <i>(&#147;Henke&#148;)</i>, a manufacturer of specialty snow
removal attachments. <i>Henke</i>&#146;s products are mounted on both heavy
industrial equipment and medium to heavy-duty trucks. The primary end-users are
governmental agencies, related contractors and other industrial users. </font>
</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On May 30, 2008, the Company acquired Rivard
Developpement S.A.S. <i>(&#147;Rivard&#148;)</i>, a leading French manufacturer of vacuum
trucks, high pressure cleaning systems and trenchers. The acquisition broadened
the Company&#146;s product offering to its customers in Europe and other markets we
serve.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On October 22, 2009, the Company acquired
substantially all the assets of Bush Hog, LLC. <i>(&#147;Bush Hog&#148;)</i>, a leading
agricultural equipment manufacturer of rotary cutters, finishing mowers, zero
turn radius mowers (&#147;ZTRs&#148;), front-end loaders, backhoes, landscape equipment
and a variety of other implements. This acquisition, combined with the
Company&#146;s existing range of agricultural mowers, created one of the largest
manufacturers of agricultural mowers in the world.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Marketing
and Marketing Strategy </font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company believes that within the U.S. it is a
leading supplier to governmental markets, a major supplier in the U.S.
agricultural market, and one of the largest suppliers in the European market
for its niche product offerings. The Company&#146;s products are sold through the
Company&#146;s various marketing organizations and extensive worldwide dealer and
distributor networks under the <i>Alamo Industrial</i><sup>&reg;</sup><i>, Terrain
King</i><sup>&reg;</sup>, <i>Tiger&trade;, Gradall</i><sup>&reg;</sup>, <i>VacAll&trade;, Schwarze</i><sup>&reg;</sup><i>,
Nite-Hawk&trade;, Henke</i><sup>&reg;</sup><i>, Bush Hog</i><sup>&reg;</sup><i>, Rhino</i><sup>&reg;</sup><i>,
Earthmaster</i><sup>&reg;</sup><i>, M&amp;W</i><sup>&reg;</sup><i>, SMC&trade;, Herschel<a
name="OLE_LINK1">&trade;</a></i>, <i>Valu-Bilt</i><sup>&reg;</sup>, <i>Fuerst</i><sup>&reg;</sup>,<i>
Schulte</i><sup>&reg;</sup><i>, McConnel</i><sup>&reg;</sup><i>, Bomford</i><sup>&reg;</sup><i>,
Spearhead&trade;, Twose&trade;, SMA</i><sup>&reg;</sup>, <i>Forges Gorce&trade;, Faucheux&trade;, Rousseau&trade;
and Rivard</i><sup>&reg;</sup><i>&nbsp; </i>trademarks as well as other<i> </i>trademarks
and trade names.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left;page-break-after:auto'>Products and Distribution Channels</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left;page-break-after:auto'>North American Industrial Division</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Alamo Industrial</i> equipment is principally sold
through independent dealers to governmental end-users, related independent
contractors and, to a lesser extent, utility and other dealers serving
right-of-way maintenance operators and other applications in the U.S. and other
countries. Governmental agencies and contractors that perform services for such
agencies purchase primarily hydraulically-powered, tractor-mounted mowers,
including boom-mounted mowers, other types of cutters and replacement parts for
heavy-duty, intensive use applications, including maintenance around highway,
airport, recreational and other public areas. A portion of <i>Alamo
Industrial&#146;s</i> sales includes tractors, which are not manufactured by
</font><i><font size="2">Alamo
Industrial. </font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Tiger</i> equipment includes heavy-duty, tractor-
and truck-mounted mowing and vegetation maintenance equipment and replacement
parts. <i>Tiger</i> sells to state, county and local governmental entities and
related contractors, primarily through a network of independent dealers. <i>Tiger&#146;s</i>
dealer distribution network is independent of <i>Alamo Industrial&#146;s</i> dealer
distribution network. A portion of <i>Tiger&#146;s</i> sales includes tractors,
which are not manufactured by </font><i><font size="2">Tiger.</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Schwarze</i> equipment includes air, mechanical
broom, and regenerative air sweepers, pothole patchers and replacement parts. <i>Schwarze</i>
sells its products primarily to governmental agencies and independent
contractors, either directly or through its independent dealer network. A
portion of <i>Schwarze&#146;s</i> sales includes chassis which are not manufactured
by <i>Schwarze</i>. The Company believes that <i>Schwarze</i> complements <i>Alamo</i>
<i>Industrial</i> because the dealer and/or end-user for both products in many
cases are the same</font><b><font size="2">. </font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Gradall</i> produces a range of models based on
high-pressure hydraulic telescoping booms which are sold through dealers
primarily to governmental agencies, contractors and to a lesser extent the
mining industry, steel mills and other specialty applications in the U.S. and
other countries. Many of these products are designed for excavation, grading, shaping
and similar tasks involved in land clearing, road building or maintenance.
These products are available mounted on various types of undercarriages: wheels
for full-speed highway travel, wheels for on/off road use, and crawlers. </font>
</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 5 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VacAll </font></i>
<font size="2">produces catch basin cleaners and roadway debris vacuum
systems. These units are powerful and versatile with uses including, but not
limited to, removal of wet and dry debris, spill elimination, and cleaning of
sludge beds. <i>VacAll</i> also offers a line of sewer cleaners. <i>VacAll</i>
products are primarily sold through dealers to industrial and commercial
contractors as well as governmental agencies. A portion of <i>VacAll&#146;s</i>
sales includes chassis which are not manufactured by the Company.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Nite-Hawk</i> manufactures parking lot sweepers
with its unique and innovative hydraulic design. By eliminating the auxiliary
engine,<i> Nite-Hawk</i> sweepers have proven to be fuel-efficient,
environmentally conscious, and cost-effective to operate.<i> Nite-Hawk</i>
focuses mainly on and sells direct to parking lot contractors. A portion of <i>Nite-Hawk&#146;s</i>
sales includes chassis which are not manufactured by <i>Nite-Hawk</i>.</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.7pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Henke</i> designs and
manufactures snow plows and heavy-duty snow removal equipment, hitches and
attachments for trucks, loaders and graders sold primarily through independent
truck and industrial dealers. <i>Henke&#146;s</i> primary end-users are governmental
agencies, related contractors and other industrial users.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">North American Agricultural Division</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Bush Hog,</i> <i>Rhino </i>and<i> M&amp;W</i>
equipment is generally sold to farmers and ranchers to clear brush, maintain
pastures and unused farmland, shred crops and till fields and for haymaking. It
is also sold to other customers, such as mowing contractors and construction
contractors, for non-agricultural purposes. <i>Bush Hog</i> and <i>Rhino</i>
equipment consists principally of a comprehensive line of tractor-powered
equipment, including rotary cutters, finishing mowers, flail mowers, disc
mowers, ZTR ride-on mowers, front-end loaders, backhoes, rotary tillers,
posthole diggers, scraper blades and replacement parts. This equipment is
primarily sold through farm equipment dealers, as well as original equipment
manufacturers (&#147;OEMs&#148;) and other distributors. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in;margin-right:-4.5pt;margin-bottom:
10.0pt;margin-left:0in'><i><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SMC</font></i><font size="2"> equipment includes a broad line of
front-end loaders and backhoes that fit many tractors on the market today. The
products are sold to OEMs and, as <i>Bush Hog</i> and <i>Rhino</i> branded
equipment.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Herschel/Valu-Bilt </i>aftermarket replacement
parts are sold for many types of farm equipment and tractors and certain types
of mowing and construction equipment. <i>Herschel </i>products include a wide
range of cutting parts, plain and hard-faced replacement tillage tools, disc
blades and fertilizer application components. <i>Herschel</i> replacement tools
and parts are sold throughout the United States, Canada and Mexico to five
major customer groups: farm equipment dealers; fleet stores; wholesale
distributors; OEMs; and construction equipment dealers. <i>Valu-Bilt</i>
complements the <i>Herschel</i> product lines while also expanding the
Company&#146;s offering of aftermarket agricultural parts and added catalog and
internet sales direct to end-users.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Schulte</i>
equipment includes heavy-duty mechanical rotary mowers, snow blowers, rock
removal equipment and related replacement parts. <i>Schulte </i>serves both the
agricultural and industrial markets primarily in Canada and the U.S. <i>Schulte</i>
also sells some of the Company&#146;s other product lines in their markets and some
of its products through independent distributors throughout the world.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">European
Division</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>McConnel</i>
equipment principally includes a broad line of hydraulic, boom-mounted hedge
and grass cutters, as well as other tractor attachments and implements such as
hydraulic backhoes, cultivators, subsoilers, buckets and other digger
implements and related replacement parts. <i>McConnel</i> equipment is sold
primarily in the U.K., Ireland and France and in other parts of Europe and, to
a lesser extent, throughout the world through independent dealers and
distributors.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bomford </font></i>
<font size="2">equipment includes hydraulic, boom-mounted hedge and
hedgerow cutters, industrial grass mowers, agricultural seedbed preparation
cultivators and related replacement parts. <i>Bomford</i> equipment is sold to
governmental agencies, contractors and agricultural end-users in the U.K.,
Ireland and France and, to a lesser extent, other countries in Europe, North
America, Australia and the Far East. <i>Bomford&#146;s</i> sales network is similar
to that of <i>McConnel</i> in the U.K. <i>Rhino</i> sells some of <i>Bomford&#146;s</i>
product line in the U.S.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 6 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>SMA</i> equipment includes hydraulic, boom-mounted
hedge and hedgerow cutters and related replacement parts. <i>SMA&#146;s</i>
principal customers are French local authorities. <i>SMA&#146;s</i> product
offerings include certain quick-attach boom mowers manufactured by the Company
in the U.K. to expand its presence in agricultural dealerships. During the third
quarter of 2010, the Company closed and sold its <i>SMA</i> facility located in
Orleans, France and production was relocated to the Rousseau manufacturing
facility near Lyon, France. <i>Forges Gorce </i>manufactures flail blades which
are sold to some of the Company&#146;s subsidiaries as well as to other customers.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Twose</i> equipment includes light-duty power arm
mowers, agricultural implements and related replacement parts. <i>Twose</i>
products are manufactured at the Company&#146;s U.K. facilities. These products are
sold through <i>Twose&#146;s</i> dealer distribution network in the U.K. and through
<i>Faucheux&#146;s</i> and other independent distributors internationally.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The addition of <i>Spearhead</i> expanded the
Company&#146;s product lines, particularly rotary cutters, and market coverage in
Europe and increased utilization of our existing U.K. manufacturing facilities.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Faucheux</i>
equipment includes front-end loaders, backhoes, attachments and related parts.
Historically, the majority of <i>Faucheux</i> sales have been in France, but
the Company has expanded market coverage to
other countries.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Rousseau</i> sells hydraulic and mechanical boom mowers,
primarily in France through its own sales force and dealer distribution network
to mainly agricultural and governmental markets. These products have also been
introduced into other markets outside of France.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>Rivard </i>manufactures vacuum trucks, high pressure cleaning
systems and trenchers. <i>Rivard&#146;s</i> equipment is primarily sold in France
and certain other markets, mainly in Europe and North Africa, to governmental
entities and related contractors. It also complements our product offerings in
North America.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in;margin-right:-4.5pt;margin-bottom:
10.0pt;margin-left:0in'><b><font size="2">Replacement Parts</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition to the sales of <i>Herschel
</i>replacement parts, the
Company derives a significant portion of its revenues from sales of replacement
parts for each of its wholegoods lines. Replacement parts represented
approximately 23%, 26% and 27% of the Company&#146;s total sales for the years ended
December&nbsp;31, 2008, 2009 and 2010, respectively. The percentage increase in
2010 was mainly from a change in sales mix between wholegoods and parts.
Proprietary replacement parts generally are more profitable and less cyclical
than wholegoods.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; While the Company believes that
the end-users of its products evaluate their purchases on the basis of price,
reputation and product quality, such purchases are also based on a dealer&#146;s
service, support of and loyalty to the dealer based on previous purchase
experiences, as well as other factors such as product and replacement part
availability.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Product Development</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company&#146;s ability to
provide innovative responses to customer needs, to develop and manufacture new
products, and to enhance existing product lines is important to its success.
The Company continually conducts research and development activities in an
effort to improve existing products and develop new products. As of December
31, 2010, the Company employed 136 people in its various engineering
departments, 60 of whom are degreed engineers and the balance of whom are
support staff. Amounts expended on research and development activities were
approximately $5,774,000 in 2010, $4,762,000 in 2009 and $5,443,000 in 2008. As
a percentage of sales, research and development was approximately 1.1% in 2010
and 1.0% in 2009 and 2008, and is expected to continue at similar levels in 2011.</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Seasonality</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company&#146;s sales, both
product and spare parts, are generally higher in the second and third quarters
of the year, because a substantial number of the Company&#146;s products are used
for maintenance activities such as vegetation maintenance, highway right-of-way
maintenance, construction, and street and parking lot sweeping. Usage of this
equipment is lower in harsh weather. The Company utilizes a rolling
twelve-month sales forecast provided by the Company&#146;s marketing departments and
order backlog in order to develop a production plan for its manufacturing
facilities. In addition, many of the Company&#146;s marketing departments attempt to
equalize demand for products throughout the calendar year by offering seasonal
sales programs which may provide additional incentives, including discounts and
extended payment terms, under these programs.</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Competition</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><font size="2">The Company&#146;s
products are sold in highly competitive markets throughout the world. The
principal competitive factors are price, quality, availability, service and
reputation. The Company competes with several large national and international
companies that offer a broad range of equipment and replacement parts, as well
as with numerous small, privately-held manufacturers and suppliers of a limited
number of products, mainly on a regional basis. Some of the Company&#146;s
competitors are significantly larger than the Company and have substantially
greater financial and other resources at their disposal. The Company believes
that it is able to compete successfully in its markets by effectively managing
its manufacturing costs, offering high quality products, developing and
designing innovative products and, to some extent, avoiding direct competition
with significantly larger potential competitors. There can be no assurance that
the Company&#146;s competitors will not substantially increase the resources devoted
to the development and marketing of products competitive with the Company&#146;s
products or that new competitors with greater resources will not enter the Company&#146;s
markets.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 7 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Unfilled Orders</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><font size="2">As of December&nbsp;31, 2010, the Company had unfilled customer orders
of $97,616,000 compared to $71,333,000 at December 31, 2009. The 37% increase
was primarily due to the positive impact of improved agricultural market conditions
on <i>Bush Hog</i> and <i>Rhino</i> backlogs. The Company continues to be
affected by soft market conditions in its Industrial and European divisions due
to the downturn in the global economy. Management expects that substantially
all of the Company&#146;s backlog as of December&nbsp;31, 2010 will be shipped
during fiscal year 2011. The amount of unfilled orders at a particular time is
affected by a number of factors, including manufacturing and shipping schedules
which, in most instances, are dependent on the Company&#146;s<i> </i>seasonal sales
programs and the requirements of its customers. Certain of the Company&#146;s orders
are subject to cancellation at any time before shipment; therefore, a
comparison of unfilled orders from period to period is not necessarily
meaningful and may not be indicative of future actual shipments. No single
customer is responsible for 10% or more of the aggregate revenue of the
Company.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Sources of Supply</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  The principal raw materials used by
the Company include steel, other metal components and hydraulic tubing. During
2010, the raw materials needed by the Company were available from a variety of
sources in adequate quantities and at prevailing market prices. No one supplier
is responsible for supplying more than 10% of the principal raw materials used
by the Company.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; While
the Company manufactures many of the parts for its products, a significant
percentage of parts, including most drivelines, gearboxes, industrial engines,
and hydraulic components, are purchased from outside suppliers which
manufacture to the Company&#146;s specifications. In addition, the Company, through
its subsidiaries, purchases tractors and truck chassis as a number of the
Company&#146;s products are mounted and shipped with a tractor or truck chassis.
Tractors and truck chassis are generally available, but some delays in
receiving tractors or truck chassis can occur throughout the year. U.S.
industrial engines over 175 horsepower, which are used in certain of the
Company&#146;s products, manufactured after January 1, 2011 will be required to meet
Tier 4i federal guidelines for emission controls, which will increase the cost
of our units and our working capital requirements. Other jurisdictions,
particularly in Europe, have already implemented similar requirements. The
Company sources its purchased goods from international and domestic suppliers. No
single supplier is responsible for supplying more than 10% of the purchased
goods used by the Company.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Patents
and Trademarks</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company owns various
U.S. and international patents. While the Company considers its patents to be
advantageous to its business, it is not dependent on any single patent or group
of patents. The Company amortized approximately $79,000 in patents and
trademarks relating to the industrial segment. The Company wrote off $224,000
in older patents which the Company believes no longer provide a competitive
advantage. The net book value of the patents and trademarks was $5,500,000 and
$5,803,000 as of December 31, 2010 and 2009, respectively. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 8 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Products manufactured by the Company are advertised
and sold under numerous trademarks. <i>Alamo Industrial</i><sup>&reg;</sup>, <i>Terrain
King</i><sup>&reg;</sup>, <i>Gradall</i><sup>&reg;</sup><i>, VacAll&trade;, Henke</i><sup>&reg;</sup><i>,
Bush Hog</i><sup>&reg;</sup>,<sup> </sup><i>Rhino</i><sup>&reg;</sup>, <i>Earthmaster</i><sup>&reg;</sup>,
<i>McConnel</i><sup>&reg;</sup><i>, Bomford</i><sup>&reg;</sup><i>,
SMA</i><sup>&reg;</sup>, <i>Schwarze</i><sup>&reg;</sup>,<i> Nite-Hawk&trade;, Tiger&trade;,
Schulte<sup>&reg;</sup>, Forges Gorce&trade;, Twose&trade;, Faucheux&trade;, Herschel&trade;,<sup>
</sup>Valu-Bilt<sup>&reg;</sup>,</i><sup>&nbsp; </sup><i>Rivard</i><sup>&reg;</sup><i>, Rousseau&trade;</i> and
<i>Spearhead&trade;</i><sup> </sup>trademarks are the primary marks for the Company&#146;s products. The Company
also owns other trademarks which it uses to a lesser extent, such as <i>M&amp;W</i><sup>&reg;</sup>,
<i>SMC&trade;,</i> <i>Fuerst</i><sup>&reg;</sup>, <i>Triumph</i><sup>&reg;</sup>,
<i>Mott</i><sup>&reg;</sup><i>,
Turner</i><sup>&reg;</sup><i>, </i>and <i>Dandl</i><sup>&reg;</sup>. Management believes that the
Company&#146;s trademarks are well known in its markets and are valuable and that
their value is increasing with the development of its business. The Company
actively protects its trademarks against infringement and believes it has
applied for or registered its trademarks in the appropriate jurisdictions.
</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Environmental and Other Governmental Regulations</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Like
other manufacturers, the Company is subject to a broad range of federal, state,
local and foreign laws and requirements, including those concerning air
emissions, discharges into waterways, and the generation, handling, storage,
transportation, treatment and disposal of hazardous substances and waste
materials, as well as the remediation of contamination associated with releases
of hazardous substances at the Company&#146;s facilities and offsite disposal
locations, workplace safety and equal employment opportunities. These laws and
regulations are constantly changing, and it is impossible to predict with
accuracy the effect that changes to such laws and regulations may have on the
Company in the future. Like other industrial concerns, the Company&#146;s
manufacturing operations entail the risk of noncompliance, and there can be no
assurance that the Company will not incur material costs or other liabilities
as a result thereof. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company knows that its Indianola, Iowa property is contaminated with chromium
which most likely resulted from chrome plating operations which were
discontinued before the Company purchased the property. Chlorinated volatile
organic compounds have also been detected in water samples on the property,
though the source is unknown at this time. The Company voluntarily worked with
an environmental consultant and the state of Iowa with respect to these issues
and believes it completed its remediation program in June 2006. The work was
accomplished within the Company&#146;s environmental liability reserve balance. We
requested a &#147;no further action&#148; classification from the state. We received a
conditional &#147;no further action&#148; letter in January of 2009. When we demonstrate
stable or improving conditions below residential standards by monitoring
existing wells, an unconditional &#147;no further action&#148; letter will be requested.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
December 31, 2010, the Company had an environmental reserve in the amount of
$1,495,000 related to the acquisition of <i>Gradall&#146;s</i> facility in New
Philadelphia, Ohio. Three specific remediation projects that were identified
prior to the acquisition are in process of remediation with a remaining reserve
balance of $30,000. The Company has a reserve of $277,000 concerning a
potential asbestos issue that is expected to be remediated over time. The
balance of the reserve, $1,188,000, is mainly for potential ground water
contamination/remediation that was identified before the acquisition and
believed to have been generated by a third party company located near the <i>Gradall</i>
facility. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company knows that <i>Bush Hog</i>&#146;s main manufacturing property in Selma,
Alabama was contaminated with chlorinated volatile organic compounds which most
likely resulted from painting and cleaning operations during the 1960s and &#145;70s.
The contaminated areas were primarily in the location of underground storage
tanks and underneath the former waste storage area. Under the Asset Purchase
Agreement, <i>Bush Hog</i>&#146;s prior owner agreed to and has removed the
underground storage tanks at its cost and has remedied the identified
contamination in accordance with the regulations of the Alabama Department of
Environmental Management.&nbsp;An environmental consulting firm was retained by
the prior owner and is administering the cleanup and will monitor the sites on
an ongoing basis until the remediation program is complete and approved by the
applicable authorities.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain
other assets of the Company contain asbestos that may have to be remediated
over time. Management has made its best estimate of the cost to remediate these
environmental issues. However, such estimates are difficult to determine, including
the timing of such costs. The Company believes that any subsequent change in
the liability associated with the asbestos removal will not have a material
adverse effect on the Company&#146;s consolidated financial position or results of
operations.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company is subject to various other federal,
state, and local laws affecting its business, as well as a variety of
regulations relating to such matters as working conditions, equal employment
opportunities, and product safety. A variety of state laws regulate the
Company&#146;s contractual relationships with its dealers, some of which impose
restrictive standards on the relationship between the Company and its dealers,
including events of default, grounds for termination, non-renewal of dealer
contracts, and equipment repurchase requirements. The Company believes it is
currently in material compliance with all such applicable laws and regulations.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Employees</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December&nbsp;31, 2010, the Company employed
approximately 2,300 employees. In the U.S. the Company has collective
bargaining agreements at the <i>Gradall</i> facility which cover 163 employees
and will expire in March 9, 2014 and at the <i>SMC</i> facility covering 49
employees which will expire on June 30, 2012. The Company&#146;s European
operations, <i>McConnel,</i> <i>Bomford</i>, <i>SMA</i>, <i>Forges Gorce,</i> <i>Faucheux,
Rousseau </i>and<i> Rivard,</i> also have various collective bargaining
agreements covering 848 employees. The Company considers its employee relations
to be satisfactory. </font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 9 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Financial Information about Segments</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; See Note 15 of the accompanying consolidated
financial statements.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left;page-break-after:auto'>International Operations and Geographic Information</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; See Note 16 of the accompanying consolidated
financial statements.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left;page-break-after:auto'>Available Information</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";text-align:left;text-indent:.25in;page-break-after:auto'>
The Company files annual,
quarterly and current reports, proxy statements and other information with the
Securities and Exchange Commission (the &#147;SEC&#148;). You may read and copy any
document we file with the SEC at the SEC&#146;s Public Reference Room at 100 F
Street, NE, Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for
information on the operation of the Public Reference Room. The SEC maintains a
website that contains annual, quarterly and current reports, proxy and information
statements and other information that issuers (including the Company) file
electronically with the SEC. The SEC&#146;s website is <u>http://</u>  www.sec.gov.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";text-align:left;text-indent:.25in;page-break-after:auto'>
The Company&#146;s website is   www.alamo-group.com.
The Company makes available free of charge through its website, via a link to
the SEC&#146;s website at   www.sec.gov, its annual report on Form 10-K,
quarterly reports on Form 10-Q, current reports on Form 8-K and any amendments
to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), as soon as
reasonably practicable after such material is electronically filed with, or
furnished to, the SEC. The Company also makes available through its website,
via a link to the SEC&#146;s website, statements of beneficial ownership of the
Company&#146;s equity securities filed by its directors, officers, 10% or greater
shareholders and others required to file under Section 16 of the Exchange Act.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";text-align:left;text-indent:.25in;page-break-after:auto'>
The Company also makes available
on its website its most recent annual report on Form 10-K, its quarterly
reports on Form 10-Q for the current fiscal year, its most recent proxy
statement and its most recent annual report to stockholders, although in some
cases these documents are not available on our site as soon as they are
available on the SEC&#146;s site. You will need to have on your computer the Adobe
Acrobat Reader&reg; software to view the documents, which are in PDF format. In
addition, the Company posts on its website its Charters for its Audit
Committee, Compensation Committee and Nominating/Corporate Governance
Committee, as well as its Corporate Governance Policies and its Code of Conduct
and Ethics for its directors, officers and employees. You can obtain a written
copy of these documents, excluding exhibits, at no cost, by sending your
request to the Corporate Secretary, Alamo Group Inc., 1627 E. Walnut Street,
Seguin, Texas 78155, which is the principal corporate office of the Company.
The telephone number is (830) 379-1480 ext. 1670. The information on the
Company&#146;s website is not incorporated by reference into this report.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left;page-break-after:auto'>Forward-Looking Information</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Part I of this Annual Report on Form 10&#8209;K
and the &#147;Management&#146;s Discussion and Analysis of Financial Condition and
Results of Operations&#148; included in Part II of this Annual Report contain
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. In
addition, forward-looking statements may be made orally or in press releases,
conferences, reports or otherwise, in the future by or on behalf of the
Company.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";text-indent:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Statements that are not historical are
forward-looking. When used by us or on our behalf, the words &#147;will,&#148;
&#147;estimate,&#148; &#147;believe,&#148; &#147;intend,&#148; &#147;could,&#148; &#147;should,&#148; &#147;anticipate,&#148; &#147;project,&#148;
&#147;forecast,&#148; &#147;plan,&#148; &#147;may&#148; and similar expressions generally identify
forward-looking statements made by us or on our behalf. Forward-looking statements
involve risks and uncertainties. These uncertainties include factors that
affect all businesses operating in a global market, as well as matters specific
to the Company and the markets we serve. Certain particular risks and
uncertainties that continually face us include the following:</font></p>
<ul>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">budget
constraints and revenue shortfalls which could affect the purchases of our type
of equipment by governmental customers and related contractors in both domestic
and international markets;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">market
acceptance of new and existing products;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">our ability
to maintain good relations with our employees; </font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">our ability
to hire and retain quality employees; </font></p></li>
</ul>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 10 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<ul>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">changes in
the prices of agricultural commodities, which could affect our customers&#146;&nbsp;&nbsp;
income levels; and</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">impairment in
the carrying value of goodwill.</font></p></li>
</ul>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";text-indent:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition, we are subject to risks and
uncertainties facing the industry in general, including the following:</font></p>
<ul>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">impact of
tighter credit markets on the Company, its dealers and end-users;</font></p>
	</li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">changes in
business and political conditions and the economy in general in both domestic
and international markets;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">increase in
unfunded pension plan liability due to financial market deterioration;</font></p>
	</li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">price and
availability of critical raw materials, particularly steel and steel products;</font></p>
	</li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">increased
competition;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">our ability
to develop and manufacture new and existing products profitably;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">adverse
weather conditions such as droughts, floods, snowstorms, etc., which can affect
the buying patterns of our customers and related contractors;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">increased
costs of complying with new regulations;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">the
potential effects on the buying habits of our customers due to animal disease
outbreaks such as mad cow and other epidemics;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">adverse
market conditions and credit constraints which could affect our customers and
end-users, such as cutbacks on dealer stocking levels;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">changes in
market demand;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">financial
market changes including changes in interest rates and fluctuations in foreign
exchange rates;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">the
inability of our suppliers, customers, creditors, public utility providers and
financial service organizations to deliver or provide their products or
services to us;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">abnormal
seasonal factors in our industry;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">unforeseen
litigation;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">changes in
domestic and foreign governmental policies and laws, including increased&nbsp;&nbsp;
levels of government regulation and changes in agricultural policies; </font>
	</p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">government
actions, including budget levels, regulations and legislation, relating to the
environment, commerce, infrastructure spending, health and safety; and</font></p>
	</li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">amount of
farm subsidies and farm payments.</font></p></li>
</ul>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-left:.75in;margin-bottom:.0001pt;text-indent:0in'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We wish
to caution readers not to place undue reliance on any forward-looking statement
and to recognize that the statements are not predictions of actual future
results. Actual results could differ materially from those anticipated in the
forward-looking statements and from historical results, due to the risks and
uncertainties described above and under &#147;Risk Factors,&#148; as well as others not
now anticipated. The foregoing statements are not exclusive and further information
concerning us and our businesses, including factors that could potentially
materially affect our financial results, may emerge from time to time. It is
not possible for management to predict all risk factors or to assess the impact
of such risk factors on the Company&#146;s businesses.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:0in'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:0in'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:0in'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 11 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;margin-bottom:0in;margin-bottom:.0001pt;text-align:left;
page-break-after:auto'>Executive Officers of
the Company</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain information is set forth below
concerning the executive officers of the Company, each of whom has been elected
to serve until the 2011 annual meeting of directors or until his successor is
duly elected and qualified.</p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:41.4pt;border-collapse:collapse' width="90%">
	<tr style='page-break-inside:avoid;height:11.25pt'>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;margin-bottom:0; margin-left:0in; margin-right:0in; margin-top:0in'>Name</p>
		</td>
		<td valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:0;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0; margin-left:0in; margin-right:0in; margin-top:0in' align="center">
		<b>Age</b></p></td>
		<td valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:0;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;margin-bottom:0; margin-left:0in; margin-right:0in; margin-top:0in'>Position</p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid;height:29.85pt'>
		<td valign=top style='padding:0in;
  ' nowrap>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Ronald A. Robinson</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  center; margin-left:0in; margin-right:0in; margin-top:0in'>58</p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>President and Chief Executive Officer</p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' nowrap>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Dan E. Malone</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">50</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Executive Vice President and Chief Financial Officer</font></p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' nowrap>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Robert H. George </font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">64</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Vice President, Secretary and Treasurer</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' nowrap>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Richard J. Wehrle</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">54</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Vice President and Controller</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' nowrap>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>Donald C. Duncan</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">59</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Vice President and
  General Counsel </p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' nowrap>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Geoff Davies</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">63</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Vice President, Alamo Group Inc. and Managing &nbsp;&nbsp; Director,
  Alamo Group (EUR) Ltd. </font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' nowrap>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Richard D. Pummell</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">64</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Vice
  President, Alamo Group Inc. and Executive  Vice President Alamo Group  (USA)
  Inc., Agricultural  Division</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='padding:0in; '>&nbsp;</td>
		<td valign=bottom style='padding:0in; '>&nbsp;</td>
		<td valign=bottom style='padding:0in; '>&nbsp;
  </td>
		<td valign=bottom style='padding:0in; '>&nbsp;</td>
		<td valign=bottom style='padding:0in; '>&nbsp;</td>
	</tr>
</table>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ronald A. Robinson was appointed President, Chief
Executive Officer and a director of the Company on July 7, 1999. Mr. Robinson
had previously been President of Svedala Industries, Inc., the U.S. subsidiary
of Svedala Industries AB of Malmo, Sweden, a leading manufacturer of equipment
and systems for the worldwide construction, mineral processing and materials
handling industries. Mr. Robinson joined Svedala in 1992 when it acquired
Denver Equipment Company of which he was Chairman and Chief Executive Officer.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dan E. Malone was appointed Executive Vice
President, Chief Financial Officer on January 15, 2007. Prior to joining the
Company, Mr. Malone held the position of Executive Vice President, Chief
Financial Officer &amp; Corporate Secretary at Igloo Products Corporation, from
2002 to January 2007. Mr. Malone was Vice President and Chief Financial Officer
of The York Group, Inc. from 2000 to 2002, and held various financial positions
from 1987 to 2000 with Cooper Industries, Inc. and its various subsidiaries.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Robert H. George joined the Company in May 1987
as Vice President and Secretary/Treasurer and has served the Company in various
executive capacities since that time. Prior to joining the Company, Mr. George
was Senior Vice President of Frost National Bank from 1978 to 1987.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Richard J. Wehrle has been Vice President and
Controller of the Company since May 2001. Prior to his appointment, Mr. Wehrle
served in various accounting management capacities within the Company since
1988.</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Donald C. Duncan has been General Counsel of the
Company since January 2002 and was elected Vice President in February 2003.
Prior to joining the Company, Mr. Duncan was counsel for various publicly held
companies in Houston, Texas and most recently was Associate General Counsel for
EGL, Inc. from 2000 to 2001 and Senior Counsel for Weatherford International
Inc. from 1997 to 1999. </font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Geoff Davies, OBE and
PhD, has been Managing Director of Alamo Group (EUR) Ltd. since December 1993
and was elected Vice President of the Company in February 2003. From 1988 to
1993, Dr.&nbsp;Davies served <i>McConnel</i> Ltd., a U.K. company acquired by
Alamo Group in 1991, in various capacities including serving as its Marketing
Director from February 1992 until December 1993.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Richard D. Pummell was
elected Vice President of Alamo Group Inc. in November 2009. Mr. Pummell joined
the Company in 2005 as Executive Vice President of Alamo Group (USA) Inc. and
is in charge of the Agricultural division. Prior to joining the Company, Mr.
Pummell was Vice President for Global Supply and General Manager of Metso
Minerals.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 12 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>
<b>Item 1A.
<a name="Risk_Factors">Risk Factors</a></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; You should carefully consider each of the risks
described below, together with all of the other information contained in this
Annual Report on Form 10-K, before making an investment decision with respect
to the Company&#146;s securities. If any of the following risks develop into actual
events, the Company&#146;s business, financial condition or results from operations
could be materially and adversely affected and you could lose all or part of
your investment. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
<b><font size="2">Risks related to our business</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
<b><font size="2">Deterioration of industry conditions
could harm our business, results of operations and financial condition.</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Our business depends to a large extent upon the
prospects for the mowing, right-of-way maintenance and agricultural markets in
general. Future prospects of the industry depend largely on factors outside of
our control. Any of those factors could adversely impact demand for our
products, which could adversely impact our business, results of operations and
financial condition. These factors include the following:</font></p>
<ul>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">weakness in
worldwide economy;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">the price and
availability of raw materials, purchased  components and energy;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">budget
constraints and revenue shortfalls for our governmental customers;</font></p>
	</li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">changes in
domestic and foreign governmental policies and laws, including increased levels
of  governmental regulation; </font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">the levels of
interest rates; </font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">the value of the
U.S. dollar relative to the foreign currencies in countries where we sell our  products
but don&#146;t have a manufacturing presence;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">impact of
tighter credit markets on the Company, its dealers and end-users;</font></p>
	</li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">impairment in
the carrying value of goodwill; and</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;'><font size="2">increase in
unfunded pension plan liability due to financial market deterioration.</font></p>
	</li>
</ul>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:0in'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
addition, our business is susceptible to a number of factors that specifically
affect agricultural customer spending patterns, including the following: </font>
</p>
<ul>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;text-indent:10.5pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;text-indent:0in'><font size="2">animal disease
outbreaks, epidemics and crop pests;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;text-indent:10.5pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;text-indent:0in'><font size="2">weather
conditions, such as droughts, floods and snowstorms;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;text-indent:10.5pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;text-indent:0in'><font size="2">changes in farm
incomes;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;text-indent:10.5pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;text-indent:0in'><font size="2">cattle and
agricultural commodity prices;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;text-indent:10.5pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;text-indent:0in'><font size="2">changes in
governmental agricultural policies worldwide;</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;text-indent:10.5pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;text-indent:0in'><font size="2">the level of worldwide
farm output and demand for farm products; and</font></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;text-indent:10.5pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-bottom:.0001pt;text-indent:0in'><font size="2">limits on
agricultural imports.</font></p></li>
</ul>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">A downturn in general economic
conditions and outlook in the United States and around the world could
adversely affect our net sales and earnings.</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The strength and profitability of our business depends
on the overall demand for our products and upon economic conditions and
outlook, including but not limited to economic growth rates; consumer spending
levels; financing availability, pricing and terms for our dealers and
end-users; employment rates; interest rates; inflation; consumer confidence and
general economic and political conditions and expectations in the United States
and the foreign economies in which we conduct business. Slow or negative growth
rates, inflationary pressures, higher commodity costs and energy prices,
reduced credit availability or unfavorable credit terms for our dealers and
end-user customers, increased unemployment rates, and continued recessionary
economic conditions and outlook could cause consumers to continue to reduce
spending, which may cause them to delay or forego purchases of our products and
could have an adverse effect on our net sales and earnings.</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">We depend on governmental sales and
a decrease in such sales could adversely affect us. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">A substantial portion of our
revenues is derived from sales to federal, state and local governmental
entities both in the U.S. and in other countries in which we sell our products.
These sales depend primarily on the levels of budgeted and appropriated
expenditures for highway, airport, roadside and parks maintenance by various
governmental entities and are affected by changes in local and national
economic conditions.</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 13 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Our dependence on, and the price and
availability of, raw materials as well as purchased components may adversely
affect our business, results of operations and financial condition.</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<font size="2">We
are subject to fluctuations in market prices for raw materials such as steel
and energy. Additionally, although most of the raw materials and purchase components
we use are commercially available from a number of sources, we could experience
disruptions in the availability of such materials. If we are unable to purchase
materials we require or are unable to pass on price increases to our customers
or otherwise reduce our cost of goods sold, our business, results of operations
and financial condition may be adversely affected. In addition, higher energy
costs may negatively affect spending by farmers, including their purchases of
our products. </font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<b><font size="2">Impairment
in the carrying value of goodwill could negatively impact our consolidated
results of operations and net worth.</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company estimates the fair value of its reporting
units using a discounted cash flow analysis. This analysis requires the Company
to make significant assumptions and estimates about the extent and timing of
future cash flows, discount rates and growth rates. The cash flows are
estimated over a significant future period of time, which makes those estimates
and assumptions subject to an even higher degree of uncertainty. The Company
also utilizes market valuation models and other financial ratios, which require
the Company to make certain assumptions and estimates regarding the
applicability of those models to its assets and businesses. The Company
believes that the assumptions and estimates used to determine the estimated
fair values of each of its reporting units are reasonable. However, different
assumptions could materially affect the estimated fair value. As of December
31, 2010, goodwill was $34,073,000, which represents 9% of total assets. The
Company recognized no goodwill impairment in 2010. The North American
Industrial segment had a goodwill impairment of $14,104,000 in 2009. During the 2010 impairment analysis
review, it was noted that even though the <i>Schwarze</i> reporting unit&#146;s fair
value was above carrying value it was not materially different. On December 31,
2010, there was approximately $6.8 million of goodwill related to the <i>Schwarze</i>
reporting unit. This reporting unit would be most likely affected by changes in
the Company&#146;s assumptions and estimates. The calculation of fair value could
increase or decrease depending on changes in the inputs and assumptions used,
such as changes in the reporting unit&#146;s future growth rates, discount rates,
etc. </font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<b><font size="2">We
operate in a highly competitive industry, and some of our competitors and
potential competitors have greater resources than we do.</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<font size="2">Our
products are sold in highly competitive markets throughout the world. We
compete with several large national and international companies that offer a
broad range of equipment and replacement parts that compete with our products,
as well as with numerous small, privately-held manufacturers and suppliers of a
limited number of products mainly on a regional basis. Some of our competitors
are significantly larger than we are and have substantially greater financial
and other resources at their disposal. We believe that we are able to compete
successfully in our markets by, to some extent, avoiding direct competition with
significantly larger potential competitors. There can be no assurance that our
competitors will not substantially increase the resources devoted to the
development and marketing of products competitive with our products or that new
competitors with greater resources will not enter our markets. Any failure to
effectively compete could have an adverse effect on our business, results of
operations and financial condition.</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">We operate and source
internationally, which exposes us to the political, economic and other risks of
doing business abroad. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We have operations in a number of
countries outside of the United States. Our international operations are
subject to the risks normally associated with conducting business in foreign
countries, including but not limited to the following:</font></p>
<ul>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848275">limitations on ownership and on
repatriation of earnings;</a></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848276">import and export restrictions,
tariffs and quotas;</a></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848277">additional expenses relating to
the difficulties and costs of staffing and managing international operations;</a></p>
	</li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848278">labor disputes and uncertain
political and economic environments and the impact of foreign business cycles;</a></p>
	</li>
</ul>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:.5in;text-indent:-.25in;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:.5in;text-indent:-.25in;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 14 -</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<ul>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>changes in laws or policies;</p>
	</li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848280">delays in obtaining or the
inability to obtain necessary governmental permits;</a></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848281">potentially adverse consequences
resulting from the applicability of foreign tax laws;</a></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848282">cultural differences; </a></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848283">increased expenses due to
inflation; </a></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848284">weak economic conditions in
foreign markets where our subsidiaries distribute their products; </a></p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
	<a
name="_Toc148848285">changes in currency exchange
rates;</a> </p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>disruptions in transportation and
port authorities; and</p></li>
	<li>
	<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>new regulations involving
international freight shipments</p></li>
</ul>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Our international operations may
also be adversely affected by laws and policies of the United States and the
other countries in which we operate affecting foreign trade, investment and
taxation. </font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:.15in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In addition, political developments
and governmental regulations and policies in the countries in which we operate
directly affect the demand for our products. For example, decreases or delays
in farm subsidies to our agricultural customers, or changes in environmental
policies aimed at limiting mowing activities, could adversely affect our
business, results of operations and financial condition. </font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<b><font size="2">Our
acquisition strategy may not be successful, which may adversely affect our business,
results of operations and financial condition.</font></b><font size="2"> </font>
</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<font size="2">We
intend to grow internally and through the acquisition of businesses and assets
that will complement our current businesses. To date, a material portion of our
growth has come through acquisitions. We cannot be certain that we will be able
to identify attractive acquisition targets, obtain financing for acquisitions
on satisfactory terms or successfully acquire identified targets. Competition
for acquisition opportunities may also increase our costs of making
acquisitions or prevent us from making certain acquisitions. These and other
acquisition-related factors may adversely impact our business, results of
operations and financial condition.</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<b><font size="2">We
may be unable to complete or integrate existing or future acquisitions
effectively, and businesses we have acquired, or may acquire in the future, may
not perform as expected. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<font size="2">We
may not be successful in integrating acquired businesses into our existing
operations and achieving projected synergies. We could face many risks in
integrating acquired businesses, but not limited to the following:</font></p>
<ul>
	<li>
	<p style='margin-right:0in;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:0in;margin-bottom:.0001pt;'>
	<font size="2">we may incur
substantial costs, delays or other operational or financial challenges in
integrating acquired businesses, including integrating each company's
accounting, information technology, human resource and other administrative
systems to permit effective management;</font></p></li>
	<li>
	<p style='margin-right:0in;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:0in;margin-bottom:.0001pt;'>
	<font size="2">we may be unable
to achieve expected cost reductions, to take advantage of cross-selling
opportunities, or to eliminate redundant operations, facilities and systems;</font></p>
	</li>
	<li>
	<p style='margin-right:0in;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:0in;margin-bottom:.0001pt;'>
	<font size="2">we may need to
implement or improve controls, procedures and policies appropriate for a public
company;</font></p></li>
	<li>
	<p style='margin-right:0in;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:0in;margin-bottom:.0001pt;'>
	<font size="2">acquisitions may
divert our management&#146;s attention from the operation of our businesses;</font></p>
	</li>
	<li>
	<p style='margin-right:0in;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:0in;margin-bottom:.0001pt;'>
	<font size="2">we may not be
able to retain key personnel of acquired businesses; </font></p></li>
	<li>
	<p style='margin-right:0in;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:0in;margin-bottom:.0001pt;'>
	<font size="2">there may be
cultural challenges associated with integrating management and employees from
the acquired businesses into our organization; and</font></p></li>
	<li>
	<p style='margin-right:0in;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:0in;margin-bottom:.0001pt;'>
	<font size="2">we may encounter
unanticipated events, circumstances or legal liabilities.</font></p></li>
</ul>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";'>
<font size="2">&nbsp;&nbsp; Our
integration of acquired businesses requires significant efforts from the
management of each entity, including coordinating existing business plans and
research and development efforts. Integrating operations may distract
management&#146;s attention from the day-to-day operation of the combined companies.
Ultimately, our attempts to integrate the operations, technology and personnel
of acquired businesses may not be successful. If we are unable to successfully
integrate acquired businesses, our future results may be negatively impacted.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";'>
<font size="2">&nbsp;&nbsp; In
addition, we may be adversely affected if businesses that we have acquired, or
that we acquire in the future, do not perform as expected. An acquired business
could perform below our expectations for a number of reasons, including
legislative or regulatory changes that affect the areas in which the acquired
business specializes, the loss of customers and dealers, general economic
factors that directly affect the acquired business, and the cultural
incompatibility of its management team. Any or all of these reasons could
adversely affect our business, results of operation and financial condition.
</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 15 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<b><font size="2">The
agricultural industry and the mowing and right of way maintenance industry are
seasonal and are affected by the weather, and seasonal fluctuations may cause
our results of operations and working capital to fluctuate from quarter to
quarter. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<font size="2">In
general, agricultural and governmental end-users typically purchase new
equipment during the first and second calendar quarters. Other products such as
street sweepers, excavators, snow blowers, front-end loaders and pothole
patchers have different seasonal patterns, as do replacement parts in general.
In attempting to achieve efficient utilization of manpower and facilities
throughout the year, we estimate seasonal demand months in advance and
manufacturing capacity is scheduled in anticipation of such demand. We utilize
a rolling twelve-month sales forecast provided by our marketing divisions and
order backlog in order to develop a production plan for our manufacturing
facilities. Additionally, many of our marketing departments attempt to equalize
demand for their products throughout the calendar year by offering seasonal
sales programs which may provide additional incentives, including discounts and
extended payment terms, on equipment that is ordered during off-season periods.
Because we spread our production and wholesale shipments throughout the year to
take into account the factors described above, sales in any given period may
not reflect the timing of dealer orders and retail demand.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";'>
<font size="2">&nbsp;&nbsp; Weather
conditions and general economic conditions may affect the timing of purchases
and actual industry conditions might differ from our forecasts. Consequently,
we cannot assure that sudden or significant declines in industry demand would
not adversely affect our working capital or results of operations.</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<b><font size="2">If
we do not retain key personnel and attract and retain other highly skilled
employees, our business may suffer. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<font size="2">Our
continued success will depend on, among other things, the efforts and skills of
our executive officers, including our president and chief executive officer,
and our ability to attract and retain additional highly qualified managerial,
technical, manufacturing and sales and marketing personnel. We do not maintain
&#147;key man&#148; life insurance for any of our employees, and all of our senior
management are employed at will. We cannot assure you that we will be able to
attract and hire suitable replacements for any of our key employees. We believe
the loss of a key executive officer or other key employee could have an adverse
effect on our business, results of operations and financial condition. </font>
</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<b><font size="2">We
are subject on an ongoing basis to the risk of product liability claims and
other litigation arising in the ordinary course of business. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<font size="2">Like
other manufacturers, we are subject to various claims, including product
liability claims, arising in the ordinary course of business, and we are a
party to various legal proceedings that constitute routine litigation
incidental to our business. We may be exposed to product liability claims in
the event that the use of our products results, or is alleged to result, in
bodily injury, property damage, or both. We cannot assure you that we will not
experience any material product liability losses in the future or that we will
not incur significant costs to defend such claims. While we currently have
product liability insurance, we cannot assure you that our product liability
insurance coverage will be adequate for any liabilities that may ultimately be
incurred or that it will continue to be available on terms acceptable to us. A
successful claim brought against us in excess of available insurance coverage
or a requirement to participate in a product recall may have a materially
adverse effect on our business.</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<b><font size="2">We
are subject to environmental, health and safety and employment laws and
regulations and related compliance expenditures and liabilities. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<font size="2">Like
other manufacturers, the Company is subject to a broad range of federal, state,
local and foreign laws and requirements, including those concerning air
emissions, discharges into waterways, and the generation, handling, storage,
transportation, treatment and disposal of hazardous substances and waste
materials, as well as the remediation of contamination associated with releases
of hazardous substances at our facilities and offsite disposal locations,
workplace safety and equal employment opportunities. These laws and regulations
are constantly changing, and it is impossible to predict with accuracy the
effect that changes to such laws and regulations may have on us in the future.
Like other industrial concerns, our manufacturing operations entail the risk of
noncompliance, and there can be no assurance that we will not incur material
costs or other liabilities as a result thereof. </font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 16 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company knows that its Indianola, Iowa property is contaminated with chromium
which most likely resulted from chrome plating operations which were
discontinued before the Company purchased the property. Chlorinated volatile
organic compounds have also been detected in water samples on the property,
though the source is unknown at this time. The Company voluntarily worked with
an environmental consultant and the state of Iowa with respect to these issues
and believes it completed its remediation program in June 2006. The work was
accomplished within the Company&#146;s environmental liability reserve balance. We
requested a &#147;no further action&#148; classification from the state. We received a
conditional &#147;no further action&#148; letter in January of 2009. When we demonstrate
stable or improving conditions below residential standards by future monitoring
of existing wells, an unconditional &#147;no further action&#148; letter will be
requested.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
December 31, 2010, the Company had an environmental reserve in the amount of
$1,495,000 related to the acquisition of <i>Gradall&#146;s</i> facility in New
Philadelphia, Ohio. Three specific remediation projects that were identified
prior to the acquisition are in process of remediation with a remaining reserve
balance of $30,000. The Company has a reserve of $277,000 concerning a
potential asbestos issue that is expected to be remediated over time. The
balance of the reserve, $1,188,000, is mainly for potential ground water
contamination/remediation that was identified before the acquisition and
believed to have been generated by a third party company located near the <i>Gradall</i>
facility. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company knows that <i>Bush Hog</i>&#146;s main manufacturing property in Selma,
Alabama was contaminated with chlorinated volatile organic compounds which most
likely resulted from painting and cleaning operations during the 1960&#146;s and
&#145;70s. The contaminated areas were primarily in the location of underground
storage tanks and underneath the former waste storage area. Under the Asset Purchase
Agreement, <i>Bush Hog</i>&#146;s prior owner agreed to and has removed the
underground storage tanks at its cost and has remedied the identified
contamination in accordance with the regulations of the Alabama Department of
Environmental Management.&nbsp;An environmental consulting firm was retained by
the prior owner and is administering the cleanup and will monitor the sites on
an ongoing basis until the remediation program is complete and approved by the
applicable authorities.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain
other assets of the Company contain asbestos that may have to be remediated
over time. Management has made its best estimate of the cost to remediate these
environmental issues. However, such estimates are difficult to estimate
including the timing of such costs. The Company believes that any subsequent
change in the liability associated with the asbestos removal will not have a
material adverse effect on the Company&#146;s consolidated financial position or
results of operations.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We
have incurred and will continue to incur capital and other expenditures to
comply with the laws and
regulations applicable to our operations. In particular, if we fail to comply
with any environmental regulations, then we could be subject to future
liabilities, fines or penalties or the suspension of production at our
manufacturing facilities. If unexpected obligations at these or other sites or
more stringent environmental laws are imposed in the future, our business,
results of operations and financial condition may be adversely affected.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">If we are unable to comply with the
terms of our credit arrangements, especially the financial covenants, our
credit arrangements could be terminated. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We cannot assure you that we will be able to comply
with all of the terms of our credit arrangements, especially the financial
covenants. Our ability to comply with such terms depends on the success of our
business and our operating results. Various risks, uncertainties, and events
beyond our control could affect our ability to comply with the terms of our
credit arrangements. If we were out of compliance with any covenant required by
our credit arrangements following any applicable cure periods, the banks could
terminate their commitments unless we could negotiate a covenant waiver. The
banks could condition such waiver on amendments to the terms of our credit
arrangements that may be unfavorable to us including, the interest rate we
currently pay on outstanding debt under our credit arrangements could increase,
which could adversely affect our operating results. </font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-indent:.25in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Fluctuations in currency exchange
rates may adversely affect our financial results. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-indent:.25in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Our earnings are affected by
fluctuations in the value of the U.S. dollar as compared to foreign currencies,
predominantly in European countries, Canada and Australia, as a result of the
sale of our products in international markets. While we do hedge against such
fluctuations to an extent (primarily in the U.K. market), we cannot assure you
that we will be able to effectively manage these risks. Significant long-term
fluctuations in relative currency values, such as a devaluation of the Euro
against the U.S. dollar, could have an adverse effect on our future results of
operations or financial condition.</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 17 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Risks related to investing in our
common stock</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:6.0pt;margin-left:0in;text-indent:10.5pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-indent:0in'><b><font size="2">&nbsp;</font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Because the price of our common
stock may fluctuate significantly and its trading volume has generally been
low, it may be difficult for you to resell our common stock when desired or at
attractive prices. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-indent:.25in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-bottom:.0001pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The trading price of our common
stock has and may continue to fluctuate. The closing prices of our common stock
on the NYSE during 2010 ranged from $27.82 to $17.02 per share, and during 2009
from $17.15 to $9.37 per share. Our stock price may fluctuate in response to
the risk factors set forth herein and to a number of events and factors, such
as quarterly variations in operating and financial results, litigation, changes
in financial estimates and recommendations by securities analysts, the
operating and stock performance of other companies that investors may deem
comparable to us, news reports relating to us or trends in our industry or
general economic conditions. Furthermore, the trading volume of our common
stock has generally been low, which may increase the volatility of the market
price for our stock. The stock price volatility and low trading volume may make
it difficult for you to resell your shares of our common stock when desired or
at attractive prices.</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<b><font size="2">You
may experience dilution of your ownership interests due to the future issuance
of additional shares of our common stock. </font></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";text-indent:.25in'>
<font size="2">We
may issue shares of our previously authorized and unissued securities which
will result in the dilution of the ownership interests of our present
stockholders. We are currently authorized to issue 20,000,000 shares of common
stock. On December 31, 2010, 11,829,879 shares of our common stock were issued
and outstanding, and there were outstanding options to purchase an additional
471,530 shares of our common stock. We also have additional shares available
for grant under our 2005 Incentive Stock Option Plan and our 2009 Equity
Incentive Plan. Additional stock option or other compensation plans or
amendments to existing plans for employees and directors may be adopted.
Issuance of these shares of common stock may dilute the ownership interests of
our then existing stockholders. We may also issue additional shares of our
common stock in connection with the hiring of personnel, future acquisitions,
such as the 1,700,000 shares issued as consideration for the acquisition of <i>Bush
Hog</i>, future private placements of our securities for capital raising
purposes or for other business purposes. This would further dilute the
interests of our existing stockholders. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in;background:white; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Future sales, or the possibility of
future sales, of a substantial amount of our common stock may depress the price
of the shares of our common stock. </font></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in;background:white'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in;background:white; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Future sales, or the availability
for sale in the public market, of substantial amounts of our common stock could
adversely affect the prevailing market price of our common stock and could
impair our ability to raise capital through future sales of equity securities.
If we or our existing stockholders sell substantial amounts of our common stock
in the public market, or if there is a perception that these sales may occur,
the market price of our common stock could decline. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";background:white'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in;background:white; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">There is no assurance that we will
continue declaring dividends or have the available cash to make dividend
payments. </font></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in;background:white'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in;background:white; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Although we have paid a cash
dividend of $0.06&nbsp;per share in each quarter since the third quarter of
1999, there can be no assurance that we will continue to declare dividends or
that funds will continue to be available for this purpose in the future. The
declaration and payment of dividends are restricted by the terms of our amended
and restated revolving credit agreement and are subject to the discretion of
our Board of Directors, are not cumulative, and will depend upon our
profitability, financial condition, capital needs, future prospects, and other
factors deemed relevant by our Board of Directors. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in;background:white'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Provisions of our corporate documents may have anti-takeover
effects that could prevent a change in control. </font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Provisions of our charter, bylaws and Delaware law could
make it more difficult for a third party to acquire us, even if doing so would
be beneficial to our stockholders. These provisions include supermajority
voting requirements, prohibiting the stockholder from calling stockholder
meetings, removal of directors for cause only and prohibiting shareholder
actions by written consent. Our Certificate of Incorporation and By-laws state
that any amendment to certain provisions, including those provisions regarding
the removal of directors and limitations on action by written consent discussed
above, be approved by the holders of at least two-thirds of our common stock.
We are also afforded the protections of Section 203 of the Delaware General
Corporation Law, which would prevent us from engaging in a business combination
with a person who becomes a 15% or greater shareholder for a period of three
years from the date such person acquired such status unless certain board or
shareholder approvals were obtained. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 18 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:24.5pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.7pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain stockholders own a significant amount of our
common stock, and their interests may conflict with those of our other
stockholders. </font></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">As of December 31, 2010, Capital Southwest Venture
Corporation, a subsidiary of Capital Southwest Corporation, beneficially owned
approximately 24% of our outstanding common stock and three other investors,
Duroc, LLC, Dimensional Fund Advisors LP and Third Avenue Management LLC
beneficially own approximately 29% of our outstanding common stock. As a
result, either Capital Southwest or the other major stockholders combined could
be able to significantly influence the direction of the Company, the election
of our Board of Directors and the outcome of any other matter requiring
stockholder approval, including mergers, consolidations and the sale of all or
substantially all of our assets, and together with other beneficially owned
investors, to prevent or cause a change in control of the Company. In addition,
the interests of Capital Southwest and other major stockholders may conflict
with the interests of our other stockholders.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>
<b>Item 1B.
<a name="Unresolved_Staff_Comments">Unresolved Staff Comments</a>&nbsp; </b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company has no unresolved staff comments to
report pursuant to Item 1B.</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 19 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 2. <a name="Properties_">Properties </a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><font size="2">As of December&nbsp;31, 2010, the
Company utilized ten principal manufacturing plants located in the United
States, six in Europe, one in Canada, and one in Australia. The facilities are
listed below:</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0 width=678
 style='width:100%;margin-left:9.9pt;border-collapse:collapse;border:medium none; '>
		<tr style='height:24.25pt'>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<u>Facility</u></p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><u><font size="2">Square<br>Footage</font></u></b></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><u><font size="2">Principal Types of Products </font></u></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><u><font size="2">Manufactured And Assembled</font></u></b></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Selma, Alabama</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">767,700&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:
  10.0pt;margin-left:.9pt;text-indent:-.9pt'>Owned</p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
  margin-bottom:6.0pt;margin-left:.7pt;text-align:left;text-indent:-.7pt'>Mechanical
  Rotary mowers, finishing mowers, zero turn radius mowers, backhoes, front-end
  loaders for <i>Bush Hog</i></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">New Philadelphia, Ohio</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">430,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:
  10.0pt;margin-left:.9pt;text-indent:-.9pt'>Owned</p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
  margin-bottom:6.0pt;margin-left:.7pt;text-align:left;text-indent:-.7pt'>Telescopic
  Excavators for <i>Gradall</i> and Vacuum Trucks for <i>VacAll</i></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Gibson City, Illinois</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">275,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:
  10.0pt;margin-left:.9pt;text-indent:-.9pt'>Owned</p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
  margin-bottom:6.0pt;margin-left:.7pt;text-align:left;text-indent:-.7pt'>Mechanical
  Mowers for <i>Rhino </i>and <i>M&amp;W,</i> Mechanical Rotary Mowers, Blades
  and Post Hole Diggers for <i>Rhino</i>, and Deep Tillage Equipment</p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Seguin, Texas</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">230,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Hydraulic and Mechanical Rotary and
  Flail Mowers, Sickle-Bar Mowers, and Boom-Mounted Equipment for </font><i>
			<font size="2">Alamo
  Industrial</font></i></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Indianola, Iowa</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">200,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Distribution and Manufacturing of
  Aftermarket Farm Equipment Replacement and Wear Parts for </font><i>
			<font size="2">Herschel/Valu-Bilt</font></i></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Neuville, France</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">195,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Leased</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Hydraulic and Mechanical
  Boom-Mounted Hedge and Grass Cutters for <i>Rousseau </i>and</font><i><font size="2"> SMA</font></i></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Ludlow, England</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">160,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Hydraulic Boom-Mounted Hedge and
  Grass Cutters and other Equipment for <i>McConnel </i>and</font><i><font size="2"> Twose
			</font></i></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Chartres, France</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">136,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Front-end Loaders, Backhoes and
  Attachments for <i>Faucheux</i> and </font><i><font size="2">McConnel</font></i></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Huntsville, Alabama</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">136,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Air and Mechanical Sweeping
  Equipment for </font><i><font size="2">Schwarze</font></i></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Salford Priors, England</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">106,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Tractor-Mounted Power Arm Flails
  and other Equipment for <i>Bomford </i>and<i> Twose </i>and </font><i>
			<font size="2">Spearhead</font></i></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Daumeray, France</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">100,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Leased</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Vacuum trucks, high pressure
  cleaning systems and trenchers for </font><i><font size="2">Rivard</font></i></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Leavenworth, Kansas</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">70,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Snow Plows and Heavy-duty Snow
  Removal Equipment for <i>Henke</i> </font></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Sioux Falls, South Dakota</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">66,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Hydraulic and Mechanical Mowing
  Equipment for </font><i><font size="2">Tiger</font></i></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Englefeld, Saskatchewan, Canada</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">64,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Mechanical Rotary Mowers, Snow
  Blowers, and Rock Removal Equipment for <i>Schulte</i> </font></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Sioux Falls, South Dakota</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">59,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Front-end Loaders and Backhoes for
  OEMs, <i>SMC, Rhino </i>and Front-end Loaders for </font><i><font size="2">Bush Hog</font></i></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Kent, Washington</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42,800&nbsp;</font></p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Leased</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Truck Mounted Sweeping Equipment
  for the contractor market branded</font><i><font size="2"> Nite-Hawk</font></i></p>
			</td>
		</tr>
		<tr style='height:13.5pt'>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Ipswich, Australia</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">15,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Leased</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Air and Mechanical Sweeping
  Equipment for </font><i><font size="2">Schwarze</font></i></p></td>
		</tr>
		<tr style='height:.3in'>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Peschadoires, France</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">12,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:6.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Replacement Parts for Blades,
  Knives and Shackles for </font><i><font size="2">Forges Gorce</font></i></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Warehouses
  &amp; Sales</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Offices,
  Seguin, Texas </font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Offices</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">58,000&nbsp;</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">10,400&nbsp;</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Owned</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Leased</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Service Parts Distribution and Sales Office </font>
			</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Corporate Office </font></p></td>
		</tr>
		<tr style='height:22.9pt'>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Total</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">3,133,900&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:6.0pt;text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt;text-align:justify'>&nbsp;</p>
			</td>
		</tr>
	</table></div>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Approximately 89% of the manufacturing,
warehouse and office space is owned. During the third quarter of 2010 the
Company closed and sold its SMA facility in Orleans, France. During 2009, the
Company closed its warehouse operations in Memphis, Tennessee and this 15,000
sq. ft. facility is for sale or lease. The Company considers each of its
facilities to be well maintained, in good operating condition and adequate for
its present level of operations.</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 20 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 3. <a name="Legal_Proceedings">Legal Proceedings</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><font size="2">The Company is subject to various
legal actions which have arisen in the ordinary course of its business. The
most prevalent of such actions relate to product liability, which is generally
covered by insurance after various self-insured retention amounts. While
amounts claimed might be substantial and the ultimate liability with respect to
such litigation cannot be determined at this time, the Company believes that
the ultimate outcome of these matters will not have a material adverse effect
on the Company&#146;s consolidated financial position or results of operations;
however, the ultimate resolutions cannot be determined at this time. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company knows that its Indianola, Iowa property is contaminated with chromium
which most likely resulted from chrome plating operations which were
discontinued before the Company purchased the property. Chlorinated volatile
organic compounds have also been detected in water samples on the property,
though the source is unknown at this time. The Company voluntarily worked with
an environmental consultant and the state of Iowa with respect to these issues
and believes it completed its remediation program in June 2006. The work was
accomplished within the Company&#146;s environmental liability reserve balance. We
requested a &#147;no further action&#148; classification from the state. We received a
conditional &#147;no further action&#148; letter in January of 2009. When we demonstrate
stable or improving conditions below residential standards by future monitoring
of existing wells, an unconditional &#147;no further action&#148; letter will be
requested.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
December 31, 2010, the Company had an environmental reserve in the amount of
$1,495,000 related to the acquisition of <i>Gradall&#146;s</i> facility in New
Philadelphia, Ohio. Three specific remediation projects that were identified
prior to the acquisition are in process of remediation with a remaining reserve
balance of $30,000. The Company has a reserve of $277,000 concerning a
potential asbestos issue that is expected to be remediated over time. The
balance of the reserve, $1,188,000, is mainly for potential ground water
contamination/remediation that was identified before the acquisition and
believed to have been generated by a third party company located near the <i>Gradall</i>
facility. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company knows that <i>Bush Hog</i>&#146;s main manufacturing property in Selma,
Alabama was contaminated with chlorinated volatile organic compounds which most
likely resulted from painting and cleaning operations during the 1960&#146;s and
&#145;70s. The contaminated areas were primarily in the location of underground
storage tanks and underneath the former waste storage area. Under the Asset
Purchase Agreement, <i>Bush Hog</i>&#146;s prior owner agreed to and has removed the
underground storage tanks at its cost and has remedied the identified
contamination in accordance with the regulations of the Alabama Department of
Environmental Management.&nbsp;An environmental consulting firm was retained by
the prior owner and is administering the cleanup and will monitor the sites on
an ongoing basis until the remediation program is complete and approved by the
applicable authorities.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain
other assets of the Company contain asbestos that may have to be remediated
over time. Management has made its best estimate of the cost to remediate these
environmental issues. However, such estimates are difficult to estimate
including the timing of such costs. The Company believes that any subsequent
change in the liability associated with the asbestos removal will not have a
material adverse effect on the Company&#146;s consolidated financial position or
results of operations.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 4. [<a name="Remove_and_Reserved">Remove and Reserved</a>]</font></b></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 21 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>PART II</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left'>Item 5.
<a name="Market_for_Registrant'
s_Common_Equity">Market for Registrant&#146;s Common Equity</a>, Related Stockholder Matters and Issuer  &nbsp; Purchases
of Equity Securities</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company&#146;s common stock trades on the New York
Stock Exchange under the symbol: ALG. On February&nbsp;25, 2011, there were
11,831,979 shares of common stock outstanding, held by approximately 116
holders of record, but the total number of beneficial owners of the Company&#146;s common
stock exceeds this number. On February&nbsp;25, 2011, the closing price of the
common stock on the New York Stock Exchange was $28.03 per share.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following table sets forth, for the period
indicated, on a per share basis, the range of high and low sales prices for the
Company&#146;s common stock as quoted by the New York Stock Exchange. These price
quotations reflect inter-dealer prices, without adjustment for retail markups,
markdowns or commissions, and may not necessarily represent actual
transactions.</p>
<div align=center>
	<table class=MsoNormalTable border=1 cellspacing=0 cellpadding=0 width=640
 style='width:100%;border-collapse:collapse;border:medium none; '>
		<tr>
			<td colspan=8 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=8 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border:medium none;
  padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Cash</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border:medium none;padding:
  0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;&nbsp;
  Cash</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=4 valign=top style='border:medium none;
  padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Sales Price</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Dividends</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=4 valign=top style='border:medium none;
  padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Sales Price</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Dividends</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold; margin-left:0in; margin-right:0in; margin-top:0in'>Quarter Ended</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">High</font></b></p></td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Low</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Declared</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Quarter Ended</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">High</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Low</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;Declared</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">March 31, 2010</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>20.36</p>
			</td>
			<td colspan=2 valign=top style='border:medium none;padding:
  0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="right">&nbsp;&nbsp;&nbsp;&nbsp;
  $</p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>16.62</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp; .06&nbsp;&nbsp;&nbsp;&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">March 31, 2009</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$</p>
			</td>
			<td colspan=2 valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>18.04</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="right">&nbsp;$
			</p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>9.22</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp; .06&nbsp;&nbsp;&nbsp;&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">June 30, 2010</font></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>27.00</p>
			</td>
			<td colspan=2 valign=top style='border:medium none;padding:
  0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>19.58</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;.06&nbsp;&nbsp;&nbsp;&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">June 30, 2009</font></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>13.25</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>9.90</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;.06&nbsp;&nbsp;&nbsp;&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">September
  30, 2010</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>25.41</p>
			</td>
			<td colspan=2 valign=top style='border:medium none;padding:
  0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>18.68</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;.06&nbsp;&nbsp;&nbsp;&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">September
  30, 2009</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>17.16</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>9.98</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;.06&nbsp;&nbsp;&nbsp;&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">December&nbsp;31,
  2010</font></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>28.19</p>
			</td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>21.55</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;.06&nbsp;&nbsp;&nbsp;&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">December&nbsp;31,
  2009</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>17.33</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>13.10&nbsp;&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;.06&nbsp;&nbsp;&nbsp;&nbsp;</p>
			</td>
		</tr>
		<tr height=0>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
		</tr>
	</table></div>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On January 5, 2011, the
Board of Directors of the Company declared a quarterly dividend of $.06 per
share which was paid on February 2, 2011, to holders of record as of
January&nbsp;19, 2011. The Company expects to continue its policy of paying
regular cash dividends, although there is no assurance as to future dividends
as they depend on future earnings, capital requirements and financial
condition. In addition, the payment of dividends is subject to restrictions
under the Company&#146;s bank revolving credit agreement. See &#147;Management&#146;s
Discussion and Analysis of Financial Condition and Results of Operations -
Liquidity and Capital Resources&#148; in Item 7 of Part II of this Annual Report on
Form 10&#8209;K for a further description of the bank revolving credit
agreement.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company was
authorized by its Board of Directors in 1997 to repurchase up to 1,000,000
shares of the Company&#146;s common stock to be funded through working capital and
credit facility borrowings. There were no shares repurchased in 2009 or in
2010. The authorization to repurchase up to 1,000,000 shares remains available,
less 42,600 shares previously purchased. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-top:6.0pt;text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information relating to compensation plans
under which equity securities of the Company are authorized for issuance is set
forth in Part III, Item 13 of this Annual Report on Form 10-K.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left'>Stock
Price Performance Graph</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information
contained in this Stock Performance Graph section shall not be deemed to be
&#147;soliciting material&#148; or &#147;filed&#148; with the SEC or subject to the liabilities of
Section 18 of the Exchange Act except to the extent that Alamo Group Inc.
specifically incorporates it by reference into a document filed under the
Securities Act or the Exchange Act.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following graph and
table set forth the cumulative total return to the Company's stockholders of
our Common Stock&nbsp; during a five-year period ended December 31, 2010, as well as
the performance of an overall stock market index (the S&amp;P 500 Index) and
the Company's selected peer group index (the Russell 2000 Index).</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company believes a
representative industry peer group of companies with a similar business segment
profile does not exist. The SEC has indicated that companies may use a base
other than industry or line of business for determining its peer group index,
such as an index of companies with similar market capitalization. Accordingly,
the Company has selected the Russell 2000 Index, a widely used small market
capitalization index, to use as a representative peer group.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:center'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-top:6.0pt;text-align:center'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 22 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:center'>
<img border="0" src="chart1.gif" width="719" height="599"></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0 width=563
 style='width:100%;margin-left:4.65pt;border-collapse:collapse'>
	<tr style='height:10.5pt'>
		<td nowrap valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">12/05</font></b></p></td>
		<td nowrap valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">12/06</font></b></p></td>
		<td nowrap valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">12/07</font></b></p></td>
		<td nowrap valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">12/08</font></b></p></td>
		<td nowrap valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">12/09</font></b></p></td>
		<td nowrap valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">12/10</font></b></p></td>
	</tr>
	<tr style='height:10.5pt'>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
	</tr>
	<tr style='height:10.5pt'>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Alamo
  Group Inc.</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">100.00</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">115.69</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">90.24</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">75.42</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">88.16</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">144.61</font></b></p></td>
	</tr>
	<tr style='height:10.5pt'>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">S&amp;P
  500</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">100.00</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">115.80</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">122.16</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">76.96</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">97.33</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">111.99</font></b></p></td>
	</tr>
	<tr style='height:10.5pt'>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Russell
  2000</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">100.00</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">118.37</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">116.51</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">77.15</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">98.11</font></b></p></td>
		<td nowrap valign=bottom style='height:10.5pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">124.46</font></b></p></td>
	</tr>
</table>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 23 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'><b>Item 6. <a name="Selected_Financial_Data">Selected Financial
Data</a></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'><b>&nbsp;</b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following selected financial data is
derived from the consolidated financial statements of Alamo Group Inc. and its
subsidiaries. The data should be read in conjunction with the consolidated
financial statements, related notes and other financial information included
herein.</p>
<table class=MsoNormalTable border=0 cellpadding=0 width=624
 style='width:100%;margin-left:1.3pt;border-collapse:collapse'>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;
  margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
		<td colspan=14 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;margin-right:0in; margin-top:0in'>
		<b><font size="2">Fiscal Year Ended December
  31,</font><sup><font size="2">(1)</font></sup></b></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;
  margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">(in
  thousands, except per share amounts)</font></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<b><font size="2">2008</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<b><font size="2">2007</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<b><font size="2">2006</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><b><font size="2">Operations:</font></b></p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Net sales </font></p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">524,540&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">446,487</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">557,135&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">504,386&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">456,494&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Income before income
  taxes</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">29,032&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; 31,106</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">17,226&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">18,035&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">16,975&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Net income </font>
		</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">21,117&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; 18,633</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">10,999&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">12,365&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">11,488&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Percent of sales</font></p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">4.0%</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">4.2%</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">2.0%</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">2.5%</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">2.5%</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Earnings per share
		</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp; Basic</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">1.79&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.80</font></p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">1.12&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">1.26&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">1.18&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp; Diluted </font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">1.78&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; </font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">1.80</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">1.11&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">1.24&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">1.16&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Dividends per share</font></p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">0.24&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">0.24</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">0.24&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">0.24&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">0.24&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Average common shares
  		</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp; Basic</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">11,782&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">10,330</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">9,847&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">9,781&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">9,756&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp; Diluted </font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">11,893&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">10,363</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">9,950&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">9,953&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">9,925&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><b><font size="2">Financial Position:</font></b></p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Total assets</font></p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">370,983&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">379,957</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">386,132&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">350,630&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">326,634&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Short-term debt and
  current maturities </font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">2,319&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">5,453</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">4,186&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">3,368&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">3,339&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Long-term debt,
  excluding current maturities</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">23,106&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">44,336</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">99,884&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">78,527&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">78,526&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'><font size="2">Stockholders&#146; equity
		</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">253,260&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">236,919</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">184,312&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">198,698&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;margin-right:0in; margin-top:0in'>
		<font size="2">181,734&nbsp;</font></p></td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<sup>&nbsp;</sup></p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<sup>(1)&nbsp;&nbsp;
</sup>Includes the
results of operations of companies acquired from the effective dates of
acquisitions.</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 7. <a name="Management'
s_Discussion_and_Analysis_">Management&#146;s Discussion and Analysis
</a>of Financial
Condition</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:10.0pt;
margin-left:.5in;text-align:justify;text-indent:-.5in'><b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And Results of
Operations</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following discussion should be read in conjunction
with the consolidated financial statements of the Company and the notes thereto
included elsewhere in this Annual Report on Form 10-K.</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following tables set forth, for the periods
indicated, certain financial data:</font></p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=5 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fiscal
  Year Ended December 31,</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:7.7pt;text-indent:-7.7pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">Net sales
  (data in thousands):</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2008</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		</font></p></td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr style='height:10.35pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; North
  American</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial</font></p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192,379</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173,905</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;254,787</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agricultural
  		</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">173,464</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">92,415</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">120,232</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; European</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">158,697</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">180,167</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">182,116</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Total
  net sales</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524,540</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446,487</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 557,135</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Cost and
  profit margins, as percentages of net sales:</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr style='height:13.5pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost
  of sales</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">77.7%</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">78.8%</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">80.4%</font></p></td>
	</tr>
	<tr style='height:11.8pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gross
  profit</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">22.3%</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">21.2%</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">19.6%</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Selling,
  general and administrative expenses</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">16.4%</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">17.0%</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">14.9%</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income
  from operations</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5.9%</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>7.7%</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>3.8%</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income
  before income taxes</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">5.5%</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">7.0%</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3.1%</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net
  income</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">4.0%</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">4.2%</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2.0%</font></p></td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 24 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Results
of Operations</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Fiscal 2010 compared to Fiscal 2009</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">&nbsp;</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The Company&#146;s net sales in the fiscal year ended December
31, 2010 (&#147;2010&#148;) were $524,540,000, an increase of $78,053,000 or 17.5%
compared to $446,487,000 for the fiscal year ended December 31, 2009 (&#147;2009&#148;).
The increase was primarily due to the inclusion of a full year of the results
of <i>Bush Hog </i>which was acquired in October 2009. </font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:22.5pt;
margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:22.5pt;
margin-bottom:10.0pt;margin-left:.25in;text-align:left'>North American Industrial sales (net) were $192,379,000 in 2010 compared
to $173,905,000 in 2009, an increase of $18,474,000 or 10.6%. The increase
resulted from higher sales of replacement parts and, to a lesser extent, a
slight improvement in sales of excavator, vacuum truck, sweeper and mowing
equipment products. Governmental entities continue to be affected by budget
constraints and revenue shortfalls. Compared to 2009, sales to state agencies
remained steadier than those to cities and counties. </p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.25in; margin-right:0in; margin-top:0in'>
<font size="2">North American Agricultural sales (net) were $173,464,000 in
2010 compared to $92,415,000 in 2009, representing an increase of $81,049,000
or 87.7%. The increase was primarily due to the acquisition of <i>Bush Hog, </i>which
contributed $78,030,000 of the increase. The agricultural market was soft
during the first six months of 2010 due to the weakness in the overall economy,
leading to dealer reluctance to stock farm equipment. During the third quarter
of 2010, market conditions reflected some improvement due to increases in
commodity prices and growth in farm income.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:63.0pt;text-align:justify'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:left'>European sales (net) decreased $21,470,000 or 11.9%
to $158,697,000 in 2010 compared to $180,167,000 in 2009. This decrease was
mainly due to soft market conditions caused by the slowdown in the European
economy. Specifically, our U.K. units held up better than our French operations,
which were responsible for the majority of the decrease. The agricultural
market in Europe showed more improvement in 2010 than the governmental market. The
European sales in 2010 had a lagging effect from what we saw in the Company&#146;s
North American markets. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left;text-indent:.25in'>Gross
margins for 2010 were $116,914,000 (22.3% of net sales) compared to $94,561,000
(21.2% of net sales) in 2009, an increase of $22,353,000. The majority of the
increase was due to the acquisition of <i>Bush Hog</i>, which accounts for
$20,271,000 of the increase. Increases in the Company&#146;s replacement part business
supported higher margins as well as improved margin percentages. Margin
percentages also improved over 2009 as a result of ongoing cost savings
initiatives which helped lower manufacturing costs.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Selling, general and
administrative expenses (&#147;SG&amp;A&#148;) were $86,041,000 (16.4% of net sales) in
2010 compared to $76,100,000 (17.0% of net sales) in 2009. The increase of
$9,941,000 in SG&amp;A in 2010 was due to the acquisition of <i>Bush Hog</i>
which added a net increase of $11,799,000. Without <i>Bush Hog</i> expenses in 2010
and 2009 along with acquisition costs related to <i>Bush Hog</i> in 2009,
SG&amp;A expenses were relatively flat year over year.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company recorded a
$27,689,000 bargain purchase gain during the fourth quarter of 2009 which has
since been adjusted to $30,177,000 as a result of retrospective adjustments to
the fair value of assets acquired and liabilities assumed since the date of
acquisition. The purchase price consideration was 1,700,000 unregistered shares
of Alamo Group stock at a closing price of $16.09 per share plus the assumption
of certain liabilities and other considerations.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There was no goodwill
impairment for 2010 compared to non-cash $14,104,000 impairment&nbsp; in 2009. &nbsp;In
2009, the Company wrote off the goodwill at <i>Gradall/VacAll</i> and just over
75% of the goodwill at <i>Nite-Hawk</i> in its Industrial Division after
performing its required impairment test. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left;text-indent:.5in'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense for 2010 was $3,664,000
compared to $4,766,000 in 2009, a $1,102,000 or a 23.1% decrease. The decrease
was due to reduced borrowings in 2010 compared to 2009. The 2010 interest
expense includes $375,000 in amortization of bank fees from the amendment to
the Company&#146;s revolving credit agreement in November 2009. In 2009, the Company
amortized $63,000 in bank fees relating to the same amendment. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other income net, was $290,000 during 2010
compared to income of $625,000 in 2009. The gains in both 2010 and 2009 are
entirely from changes in exchange rates.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 25 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision for Income Taxes was $7,915,000
(27.3% of income before income taxes) for 2010 compared to $12,473,000 (40.1%
of income before income taxes) in 2009. Included in the 2010 tax provision is
an $898,000 tax credit related to prior years&#146; research and development
expenses. The increase in the effective tax rate for 2009 was from increased
state taxes in the United States and from the non-deductible tax write-off of
goodwill in the Industrial Division.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Income for 2010 was
$21,117,000 compared to $18,633,000 in 2009 due to the factors described above.
</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Fiscal 2009 compared to Fiscal 2008</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">&nbsp;</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The Company&#146;s net sales in the fiscal year ended December
31, 2009 (&#147;2009&#148;) were $446,487,000, a decrease of $110,648,000 or 19.9%
compared to $557,135,000 for the fiscal year ended December 31, 2008 (&#147;2008&#148;).
The decrease was primarily attributable to the general weakness in the
worldwide economy which began in the fourth quarter of 2008 and continues to
affect the markets the Company serves. The acquisitions of <i>Rivard</i> and <i>Bush
Hog</i> were accretive to the Company&#146;s sales for 2009.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:22.5pt;
margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:22.5pt;
margin-bottom:10.0pt;margin-left:.25in;text-align:left'>North American Industrial sales (net) were $173,905,000 in 2009 compared
to $254,787,000 in 2008, an $80,882,000 or 31.7% decrease. The decrease came
from lower sales of excavator, vacuum truck, sweeper and mowing equipment as
governmental entities continue to be affected by budget constraints and revenue
shortfalls. Sales to cities and counties remained steadier than those to state
agencies.</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.25in; margin-right:0in; margin-top:0in'>
<font size="2">North American Agricultural sales (net) were $92,415,000 in
2009 compared to $120,232,000 in 2008, representing a decrease of $27,817,000
or 23.1%. The decrease was due to market uncertainty and tighter credit as
dealers were reluctant to stock inventory at historical levels. The acquisition
of <i>Bush Hog</i> on October 22, 2009 added $10,863,000 in sales.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:63.0pt;text-align:justify'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:left'>European sales (net) decreased $1,949,000 or 1.1% to
$180,167,000 in 2009 compared to $182,116,000 in 2008. This decrease was mainly
due to changes in the exchange rates and softness in the French markets and to
a lesser extent was offset by higher export sales outside our core markets. The
<i>Rivard</i> acquisition added $23,858,000 to sales for 2009.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left;text-indent:.25in'>Gross
margins for 2009 were $94,561,000 (21.2% of net sales) compared to $109,414,000
(19.6% of net sales) in 2008, a decrease of $14,853,000. The decrease was due
to reduced sales during 2009, which was somewhat offset by the <i>Rivard</i>
acquisition. Gross margin percentages improved over 2008 as a result of
favorable pricing in both raw and purchase components and continued improvement
in efficiency initiatives. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Selling, general and
administrative expenses (&#147;SG&amp;A&#148;) were $76,100,000 (17.0% of net sales) in
2009 compared to $83,059,000 (14.9% of net sales) in 2008. The decrease of
$6,959,000 in SG&amp;A in 2009 primarily came from reductions in workforce net
of $1,158,000 in severance costs, lower insurance premiums and professional
fees, and reduced commissions from lower sales volumes. <i>Bush Hog</i>
acquisition costs were $828,000 in 2009 and, during the fourth quarter of 2009,
the Company also incurred $1,383,000 at <i>Bush Hog</i> relating to severance
and restructuring costs. The acquisitions of <i>Rivard</i> and <i>Bush Hog</i>
added $3,230,000 and $2,204,000 respectively to the SG&amp;A expense for 2009.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company recorded a
$27,689,000 bargain purchase gain during the fourth quarter of 2009 which has
since been adjusted to $30,177,000 as a result of retrospective adjustments to
the fair value of assets acquired and liabilities assumed since the date of
acquisition. The purchase price consideration was 1,700,000 unregistered shares
of Alamo Group stock at a closing price of $16.09 per share plus the assumption
of certain liabilities and other considerations.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill impairment for
2009 was non-cash $14,104,000 compared to non-cash $5,010,000 in 2008. In 2009,
the Company wrote off the goodwill at <i>Gradall/VacAll</i> and just over 75%
of the goodwill at <i>Nite-Hawk</i> in its Industrial Division after performing
its required impairment test review. The Company wrote off the entire goodwill
relating to its Agricultural Division in 2008. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left;text-indent:.5in'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense for 2009 was $4,766,000
compared to $7,450,000 in 2008, a $2,684,000 or a 36% decrease. The decrease
was due primarily to reduced borrowings along with lower interest rates in
2009. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other income net, was $625,000 during 2009
compared to income of $1,513,000 in 2008. The gains in both 2009 and 2008 are
entirely from changes in exchange rates.</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 26 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision for Income Taxes was $12,473,000
(40.1% of income before income taxes) for 2009 compared to $6,227,000 (36.1% of
income before income taxes) in 2008. The increase in the effective tax rate for
2009 was from increased state taxes in the United States and from the
non-deductible tax write-off of goodwill in the Industrial Division.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Income for 2009 was
$18,633,000 compared to $10,999,000 in 2008 due to the factors described above.
</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Liquidity
and Capital Resources</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In addition to normal
operating expenses, the Company has ongoing cash requirements which are
necessary to conduct the Company&#146;s business, including inventory purchases and
capital expenditures. The Company&#146;s inventory and accounts payable levels,
particularly in its North American Agricultural Division, build in the first
quarter and early spring and, to a lesser extent, in the fourth quarter in
anticipation of the spring and fall selling seasons. Accounts receivable
historically build in the first and fourth quarters of each year as a result of
pre-season sales. These sales help balance the Company&#146;s production during the
first and fourth quarters. Some of the Company&#146;s recent acquisitions which are
not involved in vegetation maintenance have helped to soften this seasonality
pattern.</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December 31,
2010, the Company had working capital of $185,871,000, which represents an
increase of $1,960,000 from working capital of $183,911,000 as of December 31,
2009. The increase in working capital was primarily from higher accounts
receivable in the Company&#146;s North American and European operations offset by
decreases in inventory from reduced levels of activity. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital
expenditures were $4,980,000 for 2010, compared to $3,453,000 for 2009. For
2011, capital expenditures are expected to be higher compared to 2010 though
still below depreciation levels. The Company expects to fund capital
expenditures from operating cash flows or through its revolving credit
facility, described below.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company was authorized by its Board of Directors in 1997 to repurchase up to
1,000,000 shares of the Company&#146;s common stock to be funded through working
capital and credit facility borrowings. There were no shares repurchased in
2009 or in 2010. The authorization to repurchase up to 1,000,000 shares remains
available less 42,600 shares previously purchased. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; During
the third quarter of 2010, the Company closed its manufacturing facility
located in Orleans, France and incurred $924,000 in redundancy costs. The
Company also sold the Orleans facility and recorded a capital gain of $885,000.
Production was relocated to the <i>Rousseau</i> manufacturing facility near
Lyon, France.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by
operating activities was $41,877,000 for 2010, compared to $72,086,000 for
2009. The decrease of cash from operating activities resulted primarily from
increased accounts receivable levels specifically in the Company&#146;s North
American operations. The higher levels in 2009 were a result of greater
inventory and accounts receivable reductions due to the market decline.</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net
cash used by financing activities was $26,013,000 for 2010, compared to net
cash used of $56,965,000 for 2009. The decrease in financing activities in 2010
was from repayments of amounts borrowed from our bank credit facility due to
cash provided by operating activities.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On August 25, 2004, the
Company entered into a five-year $70 million Amended and Restated Revolving
Credit Agreement with its lenders, Bank of America, JPMorgan Chase Bank, and
Guaranty Bank. This contractually-committed, unsecured facility allows the
Company to borrow and repay amounts drawn at floating or fixed interest rates
based upon Prime or LIBOR rates. Proceeds may be used for general corporate
purposes or, subject to certain limitations, acquisitions. The loan agreement
contains among other things the following financial covenants:&nbsp; Minimum Fixed
Charge Coverage Ratios, Minimum Consolidated Tangible Net Worth, Consolidated
Funded Debt to EBITDA Ratio and Minimum Asset Coverage Ratio, along with
limitations on dividends, other indebtedness, liens, investments and capital
expenditures. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 27 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 14, 2008, the Company entered into the Sixth Amendment and Waiver under
the Amended and Restated Revolving Credit Agreement. The purpose of the
amendment and waiver was to clarify company names within the Obligated Group
after merging or dissolving some subsidiaries, to define operating cash flow
and defining quarterly operating cash flow for <i>Rivard</i> through March 31,
2010. Beginning June 30, 2009, <i>Rivard</i>&#146;s actual operating cash flow was
used in the calculation of consolidated operating flow.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
November 6, 2009, the Company entered into the Seventh Amendment of the Amended
and Restated Revolving Credit Agreement with Bank of America, N.A., Wells Fargo
Bank, N.A., BBVA Compass Bank, and Rabobank, as its lenders. The revolving
credit line remained at $125.0 million. Prior to the execution of this
Amendment, BBVA Compass Bank acquired certain assets of Guaranty Bank which
included this credit facility, and JPMorgan Chase Bank assigned its interest to
Well Fargo Bank, N.A. The purpose of the amendment was to add <i>Bush Hog</i>
as a member of the Obligated Group and pledge a first priority security
interest in certain U.S. assets (accounts receivable, inventory, equipment,
trademarks and trade names) of the Borrower and each member of the Obligated
Group. The Lenders agreed to increase the operating leverage ratio during the
next three quarters and to add a new EBIT to Interest Expense covenant in
exchange for a commitment fee and an increase in the Applicable Interest Margin
over LIBOR or Prime Rate advances. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of
December 31, 2010, there was $21,000,000 borrowed under the revolving credit
facility. On December 31, 2010, $833,000 of the revolver capacity was committed
to irrevocable standby letters of credit issued in the ordinary course of
business as required by vendors&#146; contracts resulting in approximately
$103,000,000 in available borrowings.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
May 13, 2008, Alamo Group Europe Limited expanded its overdraft facility with
Lloyd&#146;s TSB Bank plc from &pound; 1.0 million to &pound; 5.5 million. The facility was
renewed effective October 29, 2010 and outstandings
currently bear interest at Lloyd&#146;s Base Rate plus 1.4% per annum. The facility
is unsecured but guaranteed by the U.K. subsidiaries of Alamo Group Europe
Limited. As of December 31, 2010, there were no outstanding balances in British
pounds borrowed against the U.K. overdraft facility.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There
are additional lines of credit: for the Company&#146;s French operations in the
amount of 7,300,000 Euros, which includes the <i>Rivard</i>
credit facilities; for our Canadian operation in the amount of 3,500,000
Canadian dollars; and for our Australian operation in the amount of 800,000
Australian dollars. As of December 31, 2010, no Euros were borrowed against the
French line of credit; no Canadian dollars were outstanding on the Canadian
line of credit; and 600,000 Australian dollars were outstanding under its
facility. The Canadian and Australian revolving credit facilities are
guaranteed by the Company. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt;text-align:justify; margin-left:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December 31, 2010, the Company is in compliance
with the terms and conditions of its credit facilities.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";text-indent:0in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Management believes the bank credit facilities and the Company&#146;s
ability to internally generate funds from operations should be sufficient to
meet the Company&#146;s cash requirements for the foreseeable future. However, the
challenges affecting the banking industry and credit markets in general can
potentially cause changes to credit availability which creates a level of
uncertainty.</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Inflation</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";text-indent:0in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company believes that inflation generally has not had a
material impact on its operations or liquidity. The Company is exposed to the
risk that the price of energy, steel and other purchased components may increase
and the Company may not be able to increase the price of its products
correspondingly. If this occurs, the Company&#146;s results of operations would be
adversely impacted.</p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b>&nbsp;</b></p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b>Recent Accounting
Pronouncements and Legislative Changes</b></p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b>&nbsp;</b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
March 2010, President Obama signed into law the Patient Protection and
Affordable Care Act (the &#147;Act&#148;), which is a comprehensive health care reform
bill for the United States. In addition, on March&nbsp;30, 2010, President
Obama signed into law the reconciliation measure (&#147;Heath Care and Education
Reconciliation Act of 2010&#148;), which modifies certain provisions of the Act.
Although the new legislation did not have an impact on our consolidated
financial position, results of operation or cash flows in 2010, the Company is
continuing to assess the potential impacts on our future obligations, costs and
cash flows related to our health care benefits. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 28 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
April 2010, the FASB issued ASU No.&nbsp;2010-17, &#147;Revenue Recognition (ASC
Topic 605): Milestone Method&#148; (&#147;ASU No.&nbsp;2010-17&#148;). ASU No.&nbsp;2010-17
recognizes the milestone method as an acceptable revenue recognition method for
substantive milestones in research or development transactions. A milestone is
substantive when the consideration earned from achievement of the milestone is
commensurate with either (a)&nbsp;the vendor&#146;s performance to achieve the
milestone or (b)&nbsp;the enhancement of the value of the delivered item(s) as
a result of a specific outcome resulting from the vendor&#146;s performance to
achieve the milestone and the consideration earned from the achievement of a
milestone relates solely to past performance and is reasonable relative to all
of the deliverables and payment terms (including other potential milestone
consideration) within the arrangement. This new guidance will be effective for
our fiscal year 2011 and its interim periods, with early adoption permitted.
This guidance will not have a material impact on our consolidated financial
position, results of operations or cash flows. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
January&nbsp;2010, the provisions of ASC Topic 820 were modified to require
additional disclosures, including transfers in and out of Level 1 and 2 fair
value measurements and the gross basis presentation of the reconciliation of
Level 3 fair value measurements. This guidance is effective for interim and annual
reporting periods beginning after December&nbsp;15, 2009, except for
disclosures related to Level 3 fair value measurements, which are effective for
fiscal years beginning after December&nbsp;15, 2010 (including interim
periods). Early adoption is permitted. We have adopted all of these provisions
of ASC Topic 820 effective December&nbsp;31, 2009. Since only disclosures are
affected by these requirements, the adoption of these provisions will not
affect our financial position or results of operations.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
October 2009, the FASB issued ASU No.&nbsp;2009-14 &#147;Software (ASC Topic 985):
Certain Revenue Arrangements That Include Software Elements&#148; (&#147;ASU
No.&nbsp;2009-14&#148;). ASU No.&nbsp;2009-14 modifies the scope of the software
revenue recognition guidance to exclude (i)&nbsp;non-software components of
tangible products and (ii)&nbsp;software components of tangible products that
are sold, licensed or leased with tangible products when the software
components and non-software components of the tangible product function
together to deliver the tangible product&#146;s essential functionality. ASU
No.&nbsp;2009-14 is effective for fiscal years beginning on or after
June&nbsp;15, 2010 with early adoption permitted. The guidance may be applied
retrospectively or prospectively for new or materially modified arrangements.
This guidance will not have a material impact on our consolidated financial
position, results of operations or cash flows. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
October 2009, the FASB issued ASU No.&nbsp;2009-13 &#147;Revenue Recognition (ASC
Topic 605): Multiple-Deliverable Revenue Arrangements&#148; (&#147;ASU
No.&nbsp;2009-13&#148;). ASU No.&nbsp;2009-13 addresses how to determine whether an
arrangement involving multiple deliverables contains more than one unit of
accounting and how the arrangement consideration should be allocated among the
separate units of accounting. ASU No.&nbsp;2009-13 is effective for fiscal
years beginning on or after June&nbsp;15, 2010 with early adoption permitted.
The guidance may be applied retrospectively or prospectively for new or
materially modified arrangements. This guidance will not have a material impact
on our consolidated financial position, results of operations or cash flows.
</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Times New Roman";font-weight:bold;text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left'>Off-Balance
Sheet Arrangements</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The Company does not have any obligation, under any
transaction, agreement or other contractual arrangement to which an entity unconsolidated
with the Company is a party, that has or is reasonably likely to have a
material effect on the Company&#146;s financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources that is material to investors.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 29 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left'>Contractual
and Other Obligations</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following table shows the Company&#146;s approximate
obligations and commitments to make future payments under contractual
obligations as of December 31, 2010:</p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:0pt;border-collapse:collapse' width="100%">
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border-bottom-style:none; border-bottom-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=11 valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Payment due by period</font></b></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border-bottom:medium none #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(in thousands)</font></p></td>
		<td colspan=2 valign=top style='border-bottom:medium none #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:-.15pt;margin-bottom:.0001pt;text-align:center;text-indent:-.15pt;page-break-after:avoid;font-size:8.0pt;font-family:"Times New Roman";font-weight:bold;margin-left:.15pt;line-height:11.0pt;page-break-after:auto'>&nbsp;</td>
		<td colspan=2 valign=top style='border-bottom:medium none #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in' align="center">
		<b><font size="2">Less than</font></b></p></td>
		<td colspan=2 valign=top style='border-bottom:medium none #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border-bottom:medium none #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">1-3</font></b></p></td>
		<td valign=top style='border-bottom:medium none #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border-bottom:medium none #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">3-5</font></b></p></td>
		<td valign=top style='border-bottom:medium none #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border-bottom:medium none #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">More than</font></b></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border-bottom:1px solid #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><b><font size="2">Contractual
  Obligations</font></b></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1px solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:-.15pt;margin-bottom:.0001pt;text-align:center;text-indent:-.15pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;margin-left:.15pt;line-height:11.0pt;page-break-after:auto'>
		<font size="2">Total</font></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1px solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;text-align:center;line-height:11.0pt;page-break-after:
  auto; margin-left:0in; margin-right:0in; margin-top:0in'><font size="2">1 Year</font></td>
		<td colspan=2 valign=top style='border-bottom:1px solid #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1px solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;text-align:center;line-height:11.0pt;page-break-after:
  auto; margin-left:0in; margin-right:0in; margin-top:0in'><font size="2">Years</font></td>
		<td valign=top style='border-bottom:1px solid #000000; border-left-style:none; border-left-width:medium; border-right-style:none; border-right-width:medium; border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1px solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;text-align:center;line-height:11.0pt;page-break-after:
  auto; margin-left:0in; margin-right:0in; margin-top:0in'><font size="2">Years</font></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1px solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1px solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;text-align:center;line-height:11.0pt;page-break-after:
  auto; margin-left:0in; margin-right:0in; margin-top:0in'><font size="2">5 Years</font></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:medium none windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:medium none windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:.15pt;text-indent:-.15pt;line-height:
  11.0pt'>&nbsp;</p></td>
		<td valign=top style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:medium none windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:medium none windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:medium none windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border-top-style:none; border-top-width:medium; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">Long-term debt
  obligations</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.15pt;text-align:right;
  text-indent:-.15pt;line-height:11.0pt; margin-right:0in; margin-top:0in'>
		<font size="2">23,662&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;$</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,217&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; $</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">21,433&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">460&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp; $</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">552&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid;height:10.35pt'>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Capital lease obligations</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.15pt;text-align:right;
  text-indent:-.15pt;line-height:11.0pt; margin-right:0in; margin-top:0in'>
		<font size="2">1,763&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,102&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">543&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">118&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Interest obligations</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.15pt;text-align:right;
  text-indent:-.15pt;line-height:11.0pt; margin-right:0in; margin-top:0in'>
		<font size="2">2,271&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">1,091&nbsp;</font></p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,062&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">79&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">39&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Operating lease obligations</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.15pt;text-align:right;
  text-indent:-.15pt;line-height:11.0pt; margin-right:0in; margin-top:0in'>
		<font size="2">2,421&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">1,102&nbsp;</font></p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,034&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">254&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">31&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">Purchase obligations</font></p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.15pt;text-align:right;
  text-indent:-.15pt;line-height:11.0pt; margin-right:0in; margin-top:0in'>
		<font size="2">69,148&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">69,148&nbsp;</font></p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;&nbsp;</font></p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF" align="right">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp; Total</font></p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-.15pt;text-align:right;
  line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">99,265&nbsp;</font></p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-.15pt;text-align:right;
  line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">73,660&nbsp;</font></p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; $</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-.15pt;text-align:right;
  line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">24,072&nbsp;</font></p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">911&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp; $</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in' align="right">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">622&nbsp;</font></p></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Definitions:</font></p>
<table border="0" style="border-collapse: collapse" width="100%" id="table5">
	<tr>
		<td nowrap width="5%" align="center"><font size="2" face="Arial">(A)</font></td>
		<td width="95%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
		<font size="2"><i>Long-term debt
obligation</i> means a
principal payment obligation under long-term borrowings.</font></p></td>
	</tr>
	<tr>
		<td nowrap width="5%" align="center"><font size="2" face="Arial">(B)</font></td>
		<td width="95%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
		<font size="2"><i>Capital lease
obligation</i> means a
principal payment obligation under a lease classified as a capital lease.</font></p>
		</td>
	</tr>
	<tr>
		<td nowrap width="5%" align="center"><font size="2" face="Arial">(C)</font></td>
		<td width="95%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
		<font size="2"><i>Interest
obligation</i>
represents interest due on long-term debt and capital lease obligations.
Interest on long-term debt assumes all floating rates of interest remain the
same as those in effect at December 31, 2010 and include the effect of the
Company&#146;s interest rate derivative arrangements on future cash payments for the
remaining period of those derivatives.</font></p></td>
	</tr>
	<tr>
		<td nowrap width="5%" align="center"><font size="2" face="Arial">(D)</font></td>
		<td width="95%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
		<font size="2"><i>Operating
lease obligation</i>
means a payment obligation under a lease classified as an operating lease.</font></p>
		</td>
	</tr>
	<tr>
		<td nowrap width="5%" align="center"><font size="2" face="Arial">(E)</font></td>
		<td width="95%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
		<font size="2"><i>Purchase
obligation</i> means an
agreement to purchase goods or services that is enforceable and legally binding
on the registrant that specifies all significant terms, including:&nbsp; fixed or
minimum quantities to be purchased; fixed, minimum or variable price provisions;
and the approximate timing of the transactions.</font></p></td>
	</tr>
	<tr>
		<td nowrap width="5%">&nbsp;</td>
		<td width="95%">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in'>&nbsp;</p>
		</td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In addition, the Company sponsors various pension plans that
may obligate it to make contributions from time to time. We expect to make a
cash contribution to our pension plans in 2011 in the amount of $1.1 million.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left'>Critical
Accounting Estimates</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Management&#146;s Discussion and Analysis of Financial Condition
and Results of Operations are based upon our Consolidated Financial Statements,
which have been prepared in accordance with U.S. Generally Accepted Accounting
Principles (&#147;GAAP&#148;). The preparation of these financial statements requires
management to make estimates and assumptions that affect the reported amounts
of assets, liabilities, revenue and expenses, and related disclosure of
contingent assets and liabilities. Management bases its estimates on historical
experience and on various other assumptions that are believed to be reasonable
under the circumstances, the results of which form the basis for making
judgments about the carrying values of assets and liabilities that are not
readily apparent from other sources. Actual results may differ from these
estimates under different assumptions or conditions.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left'>Critical
Accounting Policies </p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">An accounting policy is deemed to be critical if it requires
an accounting estimate to be made based on assumptions about matters that are
highly uncertain at the time the estimate is made, and if different estimates
that reasonably could have been used, or changes in the accounting estimates
that are reasonably likely to occur periodically, could materially impact the
financial statements. Management believes the following critical accounting
policies reflect its more significant estimates and assumptions used in the
preparation of the Consolidated Financial Statements. For further information
on the critical accounting policies, see Note 1 of our Notes to Consolidated
Financial Statements.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">&nbsp;</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Allowance
for Doubtful Accounts</font></i></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>The Company
evaluates the collectability of its accounts receivable based on a combination
of factors. In circumstances where it is aware of a specific customer&#146;s
inability to meet its financial obligations, the Company records a specific
reserve to reduce the amounts recorded to what it believes will be collected.
For all other customers, it recognizes reserves for bad debt based on
historical experience of bad debts as a percent of revenues for each business
unit, adjusted for relative improvements or deteriorations in the aging and
changes in current economic conditions.</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 30 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company evaluates all receivables that are over 60 days old and will reserve
specifically on a 90-day basis. The Company has a secured interest on most of
its wholegoods that each customer purchases. This allows the Company, in times
of a difficult economy when the customer is unable to pay or has filed for
bankruptcy (usually Chapter 11), to repossess the customer&#146;s inventory. This
also allows Alamo Group to maintain only a reserve over its cost, which usually
represents the margin on the original sales price.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
allowance for doubtful accounts balance was $2,852,000 on December 31, 2010,
and $2,548,000 on December 31, 2009. The increase was mainly from the Company&#146;s
Agricultural operations.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font style="font-size: 10.0pt">&nbsp;</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Sales
Discounts</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
December 31, 2010, the Company had $11,903,000 in reserves for sales discounts
compared to $3,803,000 on December 31, 2009 on product shipped to our customers
under various promotional programs. The increase was due primarily to increased
sales volume of the Company&#146;s agricultural products during the pre-season,
which runs from September to December of each year with orders shipped through
the first quarter of 2011. The Company reviews the reserve quarterly based on
analysis made on each program outstanding at the time. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The Company bases its reserves on historical data relating
to discounts taken by the customer under each program. Historically, between
85% and 95% of the Company&#146;s customers who qualify for each program actually
take the discount that is available.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Inventories
&#150; Obsolete and Slow Moving</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company had a reserve of $7,506,000 on December 31, 2010 and $9,060,000 on
December 31, 2009 to cover obsolete and slow moving inventory. The decrease in
the reserve was mainly from the Company&#146;s U.S. operations, specifically its
facilities in Gibson City and Indianola as a result of greater disposals and
sales of slow moving and obsolete inventory. The obsolete and slow moving
inventory policy states that the reserve is to be calculated as follows: 1) no
inventory usage over a three-year period is deemed obsolete and reserved at 100
percent; and 2) slow moving inventory with little usage requires a 100 percent
reserve on items that have a quantity greater than a three-year supply. There
are exceptions to the obsolete and slow moving classifications if approved by
an officer of the Company, based on specific identification of an item or items
that are deemed to be either included or excluded from this classification. In
cases where there is no historical data, management makes a judgment based on a
specific review of the inventory in question to determine what reserves, if
any, are appropriate. New products or parts are generally excluded from the
reserve policy until a three-year history has been established.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The reserve is reviewed and, if necessary, adjustments are
made on a quarterly basis. The Company relies on historical information when
available to support its reserve. The Company does not adjust the reserve
balance until the inventory is liquidated.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">&nbsp;</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Warranty</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><font size="2">The Company&#146;s warranty policy is
generally to provide its customers warranty for up to one year on all wholegood
units and 90 days on parts.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warranty
reserve, as a percentage of sales, is generally calculated by looking at the
current twelve months&#146; expenses and prorating that amount based on twelve
months&#146; sales with a ninety-day to six-month lag period. The Company&#146;s
historical experience is that an end-user takes approximately 90 days to six
months from the receipt of the unit to file a warranty claim. A warranty
reserve is established for each different marketing group. Reserve balances are
evaluated on a quarterly basis and adjustments made when required.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
current liability warranty reserve balance was $5,554,000 on December 31, 2010
and $5,972,000 on December 31, 2009. The increase came mainly from the
acquisition of Bush Hog.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 31 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Goodwill</font></i></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill must be tested for impairment at least
annually. In the fourth quarter of each year, or when events and circumstances
warrant such a review, the Company tests the goodwill of all of its reporting
units for impairment. The goodwill impairment test is determined using a
two-step process. The first step is to identify if a potential impairment
exists by comparing the fair value of a reporting unit with its carrying
amount, including goodwill (Step 1). If the fair value of a reporting unit
exceeds its carrying value amount, goodwill of the reporting unit is not
considered to have a potential impairment and the second step is not necessary.
However, if the carrying amount of the reporting unit exceeds its fair value,
the second step (Step 2) is performed to determine if goodwill is impaired and
to measure the amount of impairment loss to recognize, if any. Step 2 compares
the implied fair value of goodwill with the carrying amount of goodwill. If the
implied value of goodwill is less than the carrying amount of goodwill, then a
charge is recorded to reduce goodwill to the implied goodwill. The implied
goodwill is calculated based on a hypothetical purchase price allocation, in
that it takes the implied fair value of the reporting unit and allocates such
fair value to the fair value of the assets and liabilities of the reporting
unit. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company estimates the fair value of its reporting
units using a discounted cash flow analysis. This analysis requires the Company
to make significant assumptions and estimates about the extent and timing of
future cash flows, discount rates and growth rates. The cash flows are
estimated over a significant future period of time, which makes those estimates
and assumptions subject to an even higher degree of uncertainty. The Company
also utilizes market valuation models and other financial ratios, which require
the Company to make certain assumptions and estimates regarding the
applicability of those models to its assets and businesses. The Company
believes that the assumptions and estimates used to determine the estimated
fair values of each of its reporting units are reasonable. However, different
assumptions could materially affect the estimated fair value. As of December
31, 2010, goodwill was $34,073,000, which represents 9% of total assets. The
Company recognized no goodwill impairment in 2010. The North American
Industrial segment had a goodwill impairment of $14,104,000 in 2009. During the 2010 impairment analysis
review, it was noted that even though the <i>Schwarze</i> reporting unit&#146;s fair
value was above carrying value it was not materially different. On December 31,
2010, there was approximately $6.8 million of goodwill related to the <i>Schwarze</i>
reporting unit. This reporting unit would be most likely affected by changes in
the Company&#146;s assumptions and estimates. The calculation of fair value could
increase or decrease depending on changes in the inputs and assumptions used,
such as changes in the reporting unit&#146;s future growth rates, discount rates,
etc. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">See Note 6
to the Consolidated Financial Statements for more information regarding
goodwill. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 7A.
<a name="Quantitative_and_Qualitative_Disclosures_about_Market_Risk">Quantitative and Qualitative Disclosures about Market Risk</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company is exposed to various financial market risks. Market risk is the
potential loss arising from adverse changes in market prices and rates. The
Company does not enter into derivative or
other</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'><font size="2">financial
instruments for trading or speculative purposes.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'><b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Foreign
Currency Risk</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;text-align:left;page-break-after:auto'>
<b>International Sales</b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A portion of the Company&#146;s operations consists
of manufacturing and sales activities in international jurisdictions. The
Company primarily manufactures its products in the United States, the U.K.,
France, Canada and Australia. The Company sells its products primarily within
the markets where the products are produced, but certain of the Company&#146;s sales
from its U.K. operations are denominated in other European currencies. As a
result, the Company&#146;s financials, specifically the value of its foreign assets,
could be affected by factors such as changes in foreign currency exchange rates
or weak economic conditions in the other markets in which the subsidiaries of
the Company distribute their products.</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 32 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To mitigate the short-term effect of changes in
currency exchange rates on the Company&#146;s functional currency-based sales, the
Company&#146;s U.K. subsidiaries regularly enter into foreign exchange forward
contracts to hedge over 90% of its future net foreign currency cash receipts
over a period of six months. As of December&nbsp;31, 2010, the Company had
$2,664,000 outstanding in forward exchange contracts related to accounts
receivable. A 15% fluctuation in exchange rates for these currencies would
change the fair value by approximately $400,000. However, since these contracts
hedge foreign currency denominated transactions, any change in the fair value
of the contracts should be offset by changes in the underlying value of the
transaction being hedged.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">On December 31, 2010, the fair value of these agreements was
in an unfavorable position; therefore, the derivative financial instruments
were recorded as a loss of $43,000, which has been recognized in other income
(expense), net. </font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;margin-bottom:0in;margin-bottom:.0001pt;
text-align:left;page-break-after:auto'><b>&nbsp;</b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;text-align:left;page-break-after:auto'>
<b>Exposure to Exchange Rates</b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company&#146;s earnings are affected by fluctuations in the value of the U.S. dollar
as compared to foreign currencies, predominantly in European countries, Canada
and Australia, as a result of the sale of its products in international
markets. Foreign currency forward contracts in the U.K. are used to hedge
against the earnings effects of such fluctuations. On December 31, 2010, the
result of a uniform 10% strengthening in the value of the U.S. dollar relative
to the currencies in which the Company&#146;s sales are denominated would result in
a decrease in gross profit of $4,435,000 for the year ended December 31, 2010.
Comparatively, on December 31, 2009, the result of a uniform 10% strengthening
in the value of the dollar relative to the currencies in which the Company&#146;s
sales are denominated would have resulted in a decrease in gross profit of
approximately $4,891,000 for the year ended December 31, 2009. This calculation
assumes that each exchange rate would change in the same direction relative to
the U.S. dollar. In addition to the direct effects of changes in exchange
rates, which are a changed dollar value of the resulting sales, changes in
exchange rates may also affect the volume of sales or the foreign currency
sales price as competitors&#146; products become more or less attractive. The
Company&#146;s sensitivity analysis of the effects of changes in foreign currency
exchange rates does not factor in a potential change in sales levels or local
currency prices. The translation adjustment during 2010 was a loss of
$3,659,000. On December 31, 2010, the British pound closed at .6411 relative to
the U.S. dollar, and the Euro closed at .7479 relative to the U.S. dollar. By
comparison, on December&nbsp;31, 2009, the British pound closed at .6187
relative to the U.S. dollar, and the Euro closed at .6985 relative to the U.S.
dollar. No assurance can be given as to future valuation of the British pound
or Euro or how further movements in those or other currencies could affect
future earnings or the financial position of the Company.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:left;page-break-after:auto'>Interest Rate Risk</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
majority of the Company&#146;s long-term debt bears interest at variable rates.
Accordingly, the Company&#146;s net income is affected by changes in interest rates.
Assuming the current level of borrowings at variable rates and a two hundred
basis point change in the 2010 average interest rate under these borrowings, the
Company&#146;s 2010 interest expense would have changed by approximately $420,000. In the event of an adverse change in interest rates,
management could take actions to mitigate its exposure. Further, this analysis
does not consider the effects of the change in the level of overall economic
activity that could exist in such an environment. However, the challenges
affecting the banking industry and credit markets in general can potentially
cause changes to credit availability which creates a level of uncertainty.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 8.
<a name="Financial_Statements_and_Supplementary_Data">Financial Statements and Supplementary Data</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The financial statements and supplementary data
described in Item 15 of this report and included on pages 44 through 74 of this
report are incorporated herein by reference.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2"><a name="Item_9._Changes_">Item 9. Changes </a>in and Disagreements with Accountants on
Accounting and Financial Disclosure</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">None</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 33 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 9A. <a name="Controls_and_Procedures_">Controls and Procedures
</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Disclosure
Controls and Procedures</b>. An evaluation was carried out, under the
supervision and with the participation of Alamo&#146;s management, including our
President and Chief Executive Officer, Executive Vice President and Chief
Financial Officer (Principal Financial Officer), and Vice President and
Corporate Controller (Principal Accounting Officer), of the effectiveness of
the design and operation of our disclosure controls and procedures (as defined
in Rule 13a-15(e) under the Securities Exchange Act of 1933). Based upon the
evaluation, the President &amp; Chief Executive Officer, Executive Vice
President &amp; Chief Financial Officer (Principal Financial Officer), and Vice
President &amp; Corporate Controller (Principal Accounting Officer) concluded
that the Company&#146;s disclosure controls and procedures were effective at the end
of the period covered by this report.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Management&#146;s Annual Report on Internal Control Over
Financial Reporting</b>. Management&#146;s report on the Company&#146;s internal control
over financial reporting is included on page 40 of this Annual Report on Form
10-K and incorporated by reference herein. The Company&#146;s independent public
accounting firm has audited and issued a report on the Company&#146;s internal
control over financial reporting which is included on page 41 of this Annual
Report on Form 10-K and incorporated by reference herein.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-autospace:none'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Changes in Internal Controls over Financial
Reporting. </b>There have not been any changes in Alamo&#146;s internal control over
financial reporting (as such term is defined by paragraph (d) of Rule 13-a-15)
under the Securities Exchange Act during the fourth fiscal quarter that have
materially affected, or are reasonably likely to materially affect, Alamo&#146;s
internal control over financial reporting.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify;text-autospace:none'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 9B. <a name="Other_Information">Other Information</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; None.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold; margin-left:0in; margin-right:0in; margin-top:0in'>PART III</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 10.
<a name="Directors,_Executive_Officers_and_Corporate_Governance">Directors, Executive Officers and Corporate Governance</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There is incorporated in this Item 10, by reference,
that portion of the Company&#146;s definitive proxy statement for the 2011 Annual
Meeting of Stockholders, which appears therein under the captions &#147;Proposal 1
-&nbsp; Election of Directors,&#148; &#147;Nominees for Election to the Board of Directors,&#148;
&#147;Information Concerning Directors,&#148; &#147;Meetings and Committees of the Board,&#148;
&#147;The Audit Committee,&#148; and &#147;The Nominating/Corporate Governance Committee,&#148; and
&#147;Section 16(a) Beneficial Ownership Reporting Compliance.&#148;&nbsp; See also the
information under the caption &#147;Executive Officers of the Company&#148; in Part I of
this Report.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board of Directors has delegated certain
responsibilities to three Committees of the Board. The Committees are the Audit
Committee, Compensation Committee and Nominating/Corporate Governance
Committee. The Board of Directors has also adopted Corporate Governance
guidelines and a Code of Conduct and Ethics for all employees, including the
Chief Executive Officer, Principal Financial Officer, Principal Accounting
Officer and those individuals performing similar functions.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Committee Charters, Code of Conduct and
Ethics, and Corporate Governance Guidelines may be found on the Company&#146;s
website <b>(</b>  www.alamo-group.com<b>)</b> under
the &#147;Our Commitment&#148; tab and are also available without charge in print by
sending a request to the Corporate Secretary, Alamo Group Inc., 1627 E. Walnut
Street, Seguin, Texas, 78155, which is the principal executive office of the
Company. The telephone number is 830-379-1480. The Company will post any
amendments to the Code of Conduct and Ethics, and any waivers that are required
to be disclosed by the rules of either the SEC or the New York Stock Exchange
(&#147;NYSE&#148;), on the Company&#146;s website.</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Item 11. <a name="Executive_Compensation">Executive Compensation</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There is incorporated in this Item 11, by reference,
that portion of the Company&#146;s definitive proxy statement for the 2011 Annual
Meeting of Stockholders which appears under the caption &#147;Executive
Compensation,&#148; &#147;The Compensation Committee,&#148; &#147;Compensation Discussion and
Analysis,&#148; Compensation Committee Report&#148; and &#147;Director Compensation during
2010.&#148;</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 34 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in;margin-right:0in;margin-bottom:10.0pt;
margin-left:45.0pt;text-indent:-45.0pt'><b><font size="2">
<a name="Item_12._Security">Item 12. Security</a> Ownership of Certain Beneficial Owners and
Management and Related Stockholder Matters</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There is incorporated in this Item 12, by reference,
that portion of the Company&#146;s definitive proxy statement for the 2011 Annual
Meeting of Stockholders which appears under the caption &#147;Beneficial Ownership
of Common Stock.&#148;</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Information on Alamo Group Inc.&#146;s Equity Compensation Plans</font></b></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font style="font-size: 10.0pt">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
following table provides information on the shares that are available under the
Company&#146;s stock compensation plans and, in the case of plans where stock
options may be granted, the number of shares of common stock issuable upon
exercise of those stock options. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
numbers in the table are as of December 31, 2010, the last day of Alamo Group
Inc.&#146;s 2010 fiscal year.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0 width=647
 style='width:100%;margin-left:0pt;border-collapse:collapse'>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>&nbsp;</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p align="center"><b><font size="2" face="Arial">A</font></b></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p align="center"><b><font size="2" face="Arial">B</font></b></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p align="center"><b><font size="2" face="Arial">C</font></b></td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><b><font size="2">&nbsp; </font></b>
		</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;text-align:center;
  line-height:93%;text-autospace:none; margin-left:0in; margin-top:0in'><b>
		<font size="2">Equity Compensation</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in' align="center"><b><font size="2">Plan
  Category</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' nowrap>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">Number of Securities to be issued upon </font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">exercise of outstanding </font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">options, warrants and rights </font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' nowrap>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">Weighted-average exercise</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">price of outstanding</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">options, warrants and</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">rights</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' nowrap>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">Number of Securities <br>that remain</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">available for future <br>issuance</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;under equity <br>compensation plans <br>(excluding securities
  		<br>reflected in column A)</font></b><font size="2">&nbsp; </font></p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><b><font size="2">&nbsp;</font></b></p>
		</td>
		<td valign=top style='border:medium none;padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border:medium none;padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border:medium none;padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Plans approved by stockholders</font></b></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:93%;
  text-autospace:none'>&nbsp;</p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:93%;
  text-autospace:none'>&nbsp;</p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:93%;
  text-autospace:none'>&nbsp;</p></td>
	</tr>
	<tr style='height:8.55pt'>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><i><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		</font></i></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-5.5pt;text-align:center;
  line-height:93%;text-autospace:none'>&nbsp;</p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:93%;
  text-autospace:none'>&nbsp;</p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:93%;
  text-autospace:none'>&nbsp;</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<i><font size="2">Amended and Restated 1994 Incentive Stock Option Plan</font></i></p>
		</td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; 58,030</font></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$13.54</font></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		</font></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:93%;
  text-autospace:none'>&nbsp;</p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:93%;text-autospace:none'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:93%;
  text-autospace:none'>&nbsp;</p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><i><font size="2">First Amended and Restated 1999 Non-Qualified Stock
  Option Plan</font></i></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">82,400</font></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$16.63</font></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-5.5pt;line-height:93%;text-autospace:
  none'>&nbsp;</p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-10.0pt;text-align:center;
  line-height:93%;text-autospace:none; margin-left:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><i><font size="2">2005 Incentive Stock Option Plan</font></i></p>
		</td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">302,100</font></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$19.20</font></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-10.0pt;text-align:center;
  line-height:93%;text-autospace:none; margin-left:0in; margin-top:0in'>
		<font size="2">195,500&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><i><font size="2">&nbsp; </font></i>
		</p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>&nbsp;</td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>&nbsp;</td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><i><font size="2">2009 Equity Incentive Plan</font></i></p>
		</td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; 29,000</font></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$12.82</font></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-10.0pt;text-align:center;
  line-height:93%;text-autospace:none; margin-left:0in; margin-top:0in'>
		<font size="2">364,000&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-5.5pt;line-height:93%;text-autospace:
  none'>&nbsp;</p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-10.0pt;text-align:center;
  line-height:93%;text-autospace:none; margin-left:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-5.5pt;line-height:93%;text-autospace:
  none'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.5pt;line-height:93%;text-autospace:
  none; margin-left:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		</font><b><font size="2">Total&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
		</font></b></p></td>
		<td valign=top style='border:medium none;padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">471,530</font></b></p></td>
		<td valign=top style='border:medium none;padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border:medium none;padding-left:5.5pt; padding-right:5.5pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-10.0pt;text-align:center;
  line-height:93%;text-autospace:none; margin-left:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">559,500</font></b><font size="2">&nbsp;&nbsp;</font></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:93%;
  text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
		<font size="2">&nbsp;</font></b></p></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 35 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2"><a name="Item_13._Certain">Item 13. Certain</a> Relationships, Related Transactions and
Director Independence</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information
regarding certain relationships and related transactions is set forth under the
caption &#147;Certain Relationships and Related Transactions&#148; in the Company&#146;s
definitive proxy statement for the 2011 Annual Meeting of Stockholders and such
information is incorporated by reference herein. There were no such reportable relationships or
related party transactions in the fiscal year ended December 31, 2010. In 1999,
the Company approved a supplemental retirement benefit for Donald J. Douglass
which is paid on a quarterly basis over a period of fourteen and one-half years
that began in the year 2000. The remaining balances on December 31, 2010 and
2009 were $248,000 and $308,000, respectively, and are included in the Accrued
liabilities and Other long-term liabilities sections of the Company&#146;s balance sheets.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information regarding director independence is set
forth under the caption &#147;Information Concerning Directors&#148; in the Company&#146;s
definitive proxy statement for the 2011 Annual Meeting of Stockholders and such
information is incorporated by reference herein.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2"><a name="Item_14._Principal_Accountant_">Item 14. Principal Accountant
</a>Fees and Services</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><font size="2">Information regarding principal accountant fees and services is set
forth under the caption &#147;Proposal 2 &#150; Ratification of Appointment of
Independent Auditors&#148; in the Company&#146;s definitive proxy statement for the 2011
Annual Meeting of Stockholders and such information is incorporated by
reference herein.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;text-align:center'>PART
IV</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2"><a name="Item_15._Exhibits">Item 15. Exhibits</a> and Financial Statement Schedules</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><u><font size="2">Financial Statements</font></u></b></p>
<table class=MsoNormalTable border=0 cellpadding=0 width=655
 style='width:100%;border-collapse:collapse'>
	<tr>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td width=108 valign=top style='width:81.0pt;border:none;border-bottom:solid windowtext 1.5pt;
  padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Page</font></b></p></td>
	</tr>
	<tr>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Report_of_Management_on_Internal_Control_over_Financial_Reporting">Report of Management on Internal Control Over Financial Reporting</a></p>
		</td>
		<td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>40</p>
		</td>
	</tr>
	<tr>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Report_of_Independent_Registered_Public_Accounting_Firm_">Reports of Independent Registered Public Accounting Firm (KPMG LLP)</a></p>
		</td>
		<td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>41-42</p>
		</td>
	</tr>
	<tr>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Independent">Reports of Independent Registered Public Accounting Firm (Ernst &amp;
  Young LLP)</a></p></td>
		<td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>43</p>
		</td>
	</tr>
	<tr>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<a href="#Consolidated_Balance_Sheets_">Consolidated Balance Sheets</a></p>
		</td>
		<td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
  center; margin-left:0in; margin-right:0in; margin-top:0in'>44</p></td>
	</tr>
	<tr>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Consolidated_Statements_of_Income_">Consolidated Statements of Income</a></font></p>
		</td>
		<td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">45</font></p></td>
	</tr>
	<tr>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">
		<a href="#Consolidated_Statements_of_Stockholders'
_Equity_">Consolidated Statements of Stockholders&#146; Equity</a>
		</font></p></td>
		<td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">46</font></p></td>
	</tr>
	<tr>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Consolidated_Statements_of_Cash_Flows_">Consolidated Statements of Cash Flows</a>
		</font></p></td>
		<td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">47</font></p></td>
	</tr>
	<tr style='height:3.5pt'>
		<td width=31 valign=top style='width:23.4pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.5pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
		</td>
		<td width=516 valign=top style='width:387.0pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.5pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2"><a href="#Notes_to_Consolidated_Financial_Statements_">Notes to Consolidated Financial Statements</a>
		</font></p></td>
		<td width=108 valign=top style='width:81.0pt;padding:0in 5.4pt 0in 5.4pt;
  height:3.5pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">48</font></p></td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in;margin-right:-.5in;margin-bottom:10.0pt;
margin-left:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in;margin-right:-.5in;margin-bottom:10.0pt;
margin-left:0in'><b><u><font size="2">Financial
Statement Schedules</font></u></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All schedules for which a provision is made in the
applicable accounting regulation of the Securities and Exchange Commission are
omitted because they are not required or because the required information is
included in the consolidated financial statements or notes thereto.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">&nbsp;- 36 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><u><font size="2">Exhibits</font></u></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits &#150; The following
exhibits are incorporated by reference to the filing indicated or are included
following the index to Exhibits.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-family:"Arial";font-weight:bold;margin-bottom:0in;margin-bottom:.0001pt'>
<font size="2"><a name="INDEX_TO_EXHIBITS_">&nbsp;INDEX TO EXHIBITS</a></font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0 width=666
 style='width:100%;border-collapse:collapse'>
	<tr style='page-break-inside:avoid;height:12.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding:0in;
  '>&nbsp;</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold; margin-left:0in; margin-right:0in; margin-top:0in'>Incorporated
  by Reference</p></td>
		<td style='border:none;padding:0in 0in 0in 0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='page-break-inside:avoid;height:12.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding:0in;
  '>&nbsp;</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold; margin-left:0in; margin-right:0in; margin-top:0in'>From the
  Following</p></td>
		<td style='border:none;padding:0in 0in 0in 0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='page-break-inside:avoid;height:12.0pt'>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold; margin-left:0in; margin-right:0in; margin-top:0in'>Exhibits</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold; margin-left:0in; margin-right:0in; margin-top:0in'>Exhibit
  Title</p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold; margin-left:0in; margin-right:0in; margin-top:0in'>Documents</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:6.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>2.1&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Asset
  Purchase Agreement, dated February 3, 2006, between the Alamo Group Inc. and
  JLG Industries Inc.</p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Filed
  as Exhibit 2.1 to Form 8-K, February 8, 2006</p></td>
		<td style='border:none;padding:0in 0in 0in 0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>2.2&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Asset
  Purchase Agreement, dated September 4, 2009, between the Company and Bush Hog</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
  text-align:left'><font size="2">Filed as
  Exhibit 2.1 to Form 8-K, September 4, 2009, as amended by Form 8-K/A,
  November 9, 2009</font></p></td>
		<td style='border:none;padding:0in 0in 0in 0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>3.1&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Certificate
  of Incorporation, as amended, of Alamo Group Inc.</p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Filed
  as Exhibit 3.1 to Form S-1, February 5, 1993</p></td>
		<td style='border:none;padding:0in 0in 0in 0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3.2&nbsp;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">By-Laws of
  Alamo Group Inc. as amended</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 3.2 to Form 10K, March 10, 2009</font></p></td>
		<td style='border:none;padding:0in 0in 0in 0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10.1&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Form of
  indemnification agreements with Directors of Alamo Group Inc.</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.1 to Form 10-Q, May 15, 1997</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10.2&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Form of
  indemnification agreements with certain executive officers of Alamo Group
  Inc.</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.2 to Form 10-Q, May 15, 1997</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.3&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Incentive
  Compensation Plan, adopted on December&nbsp;9, 1997</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.14 to Form 10-K, March&nbsp;31, 1998</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.4&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">401(k)
  Restoration Plan for Highly Compensated Employees, adopted on
  December&nbsp;9, 1997</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.15 to Form 10-K, March&nbsp;31, 1998</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.5&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Amended
  and Restated 1994 Incentive Stock Option Plan adopted by the Board of
  Directors on July 7, 1999</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit B to Schedule 14A, July 30, 1999</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.6&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">First
  Amended and Restated 1999 Non-Qualified Stock Option Plan, adopted by the
  Board of Directors on February 13, 2001</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit B to Schedule 14A, May 3, 2001</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.7&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2005
  Incentive Stock Option Plan, adopted by the Board of Directors on May 4, 2005</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Appendix E to Schedule 14A, May 4, 2005</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.8&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2009
  Equity Incentive Plan, adopted by the Board of Directors on May 7, 2009</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.1 to Form 8-K, May 13, 2009</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10.9&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Amended
  and Restated Revolving Credit Agreement among Alamo Group Inc., the
  Guarantors, and Bank of America, N.A., Chase Manhattan Bank, and Guaranty
  Bank dated February 3, 2006</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.3 to Form 8-K, February 8, 2006</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10.10&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Fourth
  Amendment of the Amended and Restated Revolving Credit Agreement, dated March
  30, 2006, between the Company and Bank of America, N.A., JPMorgan Chase Bank
  and Guaranty Bank</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.1 to Form 8-K, April 5, 2006</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10.11&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Registration
  statement with the Securities and Exchange Commission to register 2,300,000
  shares of common stock for offer and sale by Alamo Group</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed Form
  S-3, July 27, 2006</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10.12&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Fifth
  Amendment of the Amended and Restated Revolving Credit Agreement, dated May
  7, 2007, between the Company and Bank of America, N.A., JPMorgan Chase Bank,
  Guaranty Bank and Rabobank</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.13 to Form 10 Q, May 7, 2007</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10.13&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Sixth
  Amendment of and Waiver under Amended and Restated Revolving Credit
  Agreement, dated October 14, 2008, between the Company and Bank of America,
  N.A., JPMorgan Chase Bank, Guaranty Bank and Rabobank</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.12 to Form 10K, March 10, 2009</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10.14&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Seventh
  Amendment of the Amended and Restated Revolving Credit Agreement, dated
  November 5, 2009, between the Company and Bank of America, N.A., Wells Fargo
  Bank, N.A., BBVA Compass Bank, and Rabobank</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.1 to Form 10 Q, November 9, 2009</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.15&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Form of
  Restricted Stock Award Agreement under the 2009 Equity Incentive Plan</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.2 to Form 8-K, May 13, 2009</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.16&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Form of
  Restricted Stock Unit Award Agreement under the 2009 Equity Incentive Plan</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.3 to Form 8-K, May 13, 2009</font></p></td>
	</tr>
	<tr style='height:28.6pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.17&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Form of
  Nonqualified Stock Option Agreement under the 2009 Equity Incentive Plan</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.4 to Form 8-K, May 13, 2009</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.18&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Form of
  Nonqualified Stock Option Agreement under the First Amended and Restated 1999
  Nonqualified Stock Option Plan</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.5 to Form 8-K, May 13, 2009</font></p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr style='height:12.6pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.19&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Form of
  Stock Option Agreement under the 2005 Stock Option Plan</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.6 to Form 8-K, May 13, 2009</font></p></td>
	</tr>
	<tr style='height:12.6pt'>
		<td valign=top style='padding:0in;
  ' colspan="6">
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
		<font size="2">&nbsp;</font></p>
		<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
		<font size="2">- 37 -</font></p>
		<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
			<hr size=2 width="100%" noshade color=navy align=center></div>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
		<font size="2" face="Arial">
		<br clear=all
style='page-break-before:always'></font>
		<p>&nbsp;</td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.20</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Supplemental
  Executive Retirement Plan</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.1 to Form 8K, January 18, 2011</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>*10.21</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Amended
  Incentive Compensation Plan</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed as
  Exhibit 10.1 to Form 8K, March 11, 2011</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>21.1&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;
		</p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Subsidiaries
  of the Registrant</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed
  Herewith</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>23.1&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Consent of
  KPMG LLP</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed
  Herewith</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>23.2&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Consent of
  Ernst &amp; Young LLP</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed
  Herewith</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>31.1&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Certification
  by Ronald A. Robinson under Section 302 of the Sarbanes-Oxley Act of 2002</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed
  Herewith </font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>31.2&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Certification
  by Dan E. Malone under Section 302 of the Sarbanes-Oxley Act of 2002</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed
  Herewith</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>31.3&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Certification
  by Richard J. Wehrle under Section 302 of the Sarbanes-Oxley Act of 2002</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed
  Herewith</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>32.1&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Certification
  by Ronald A. Robinson under Section 906 of the&nbsp; Sarbanes-Oxley Act of 2002</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed
  Herewith</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>32.2&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Certification
  by Dan E. Malone under Section 906 of the&nbsp; Sarbanes-Oxley Act of 2002</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed
  Herewith</font></p></td>
	</tr>
	<tr style='height:14.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>32.3&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Certification
  by Richard J. Wehrle under Section 906 of the&nbsp; Sarbanes-Oxley Act of 2002</font></p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Filed
  Herewith</font></p></td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:6.0pt;margin-right:0in;margin-bottom:6.0pt;
margin-left:.25in;text-align:justify'><font size="2">*Compensatory Plan</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">&nbsp;- 38 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:6.0pt;margin-right:0in;margin-bottom:6.0pt;
margin-left:.25in;text-align:justify'><b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2"><a name="SIGNATURES_">SIGNATURES</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the requirements of Section 13 or 15(d) of
the Securities Exchange Act of 1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</p>
<table border="0" style="border-collapse: collapse" width="100%" id="table6">
	<tr>
		<td width="50%">&nbsp;</td>
		<td width="50%">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";'>ALAMO GROUP INC.</p>
		</td>
	</tr>
	<tr>
		<td width="50%"><font size="2" face="Arial">Date:&nbsp;
March 14, 2011</font></td>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td width="50%">&nbsp;</td>
		<td width="50%">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td width="50%">&nbsp;</td>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">By:&nbsp;
<i><u>/s/ </u></i></font><u><font size="2">RONALD A. ROBINSON</font></u></p>
		</td>
	</tr>
	<tr>
		<td width="50%">&nbsp;</td>
		<td width="50%">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
		<font size="2">President &amp; Chief Executive Officer  </font></p></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the requirements of the Securities
Exchange Act of 1934, this report has been signed below by the following
persons on behalf of the registrant and in their capacities and on 15<sup>th</sup>
day of March, 2011.</font></p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:.7pt;border-collapse:collapse' width="100%">
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Signature</font></b></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Title</font></b></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
		</tr>
		<tr style='height:8.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
		</tr>
		<tr style='height:24.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<i><u><font size="2">/s/ </font></u></i><u><font size="2">DONALD J. DOUGLASS</font></u></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Donald J.
  Douglass</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Chairman of the Board &amp;
  Director</font></p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:24.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<i><u><font size="2">/s/ </font></u></i><u><font size="2">RONALD A. ROBINSON</font></u></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Ronald A.
  Robinson</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">President, Chief Executive Officer
  &amp; Director (Principal Executive Officer)</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<i><u><font size="2">/s/ </font></u></i><u><font size="2">DAN E. MALONE</font></u></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Dan E.
  Malone</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Executive Vice President &amp;
  Chief Financial Officer (Principal Financial Officer)</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<i><u><font size="2">/s/ </font></u></i><u><font size="2">RICHARD J. WEHRLE</font></u></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Richard
  J. Wehrle</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Vice President &amp; Corporate
  Controller</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(Principal Accounting Officer)</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:12.15pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:24.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Helen W.
  Cornell</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Director</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:24.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:24.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<i><u><font size="2">/s/ </font></u></i><u><font size="2">JERRY E. GOLDRESS</font></u></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Jerry E.
  Goldress</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Director</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:24.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<i><u><font size="2">/s/ </font></u></i><u><font size="2">DAVID W. GRZELAK</font></u></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">David W. Grzelak</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Director</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:24.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<i><u><font size="2">/s/ </font></u></i><u><font size="2">GARY L. MARTIN</font></u></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Gary L. Martin</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Director</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:24.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<i><u><font size="2">/s/</font></u></i><u><font size="2">JAMES B. SKAGGS</font></u></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">James B. Skaggs</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Director</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td width=168 valign=top style='width:126.15pt;padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td width=30 valign=top style='width:22.5pt;padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td width=318 valign=top style='width:238.5pt;padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td width=30 valign=top style='width:22.6pt;padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:.5in;text-align:center'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font style="font-size: 10.0pt">&nbsp;</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 39 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font style="font-size: 10.0pt">&nbsp;</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">
<a name="Report_of_Management_on_Internal_Control_over_Financial_Reporting">Report
of Management on Internal Control over Financial Reporting</a> </font></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.5in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company&#146;s management is responsible for establishing and maintaining adequate
internal control over financial reporting, as such term is defined in Rules
13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. The
Company&#146;s internal control over financial reporting is designed to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
U.S. generally accepted accounting principles.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Because
of its inherent limitations, internal controls over financial reporting may not
prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to risk that controls may become
inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company&#146;s management assessed the effectiveness of the Company&#146;s internal
control over financial reporting as of December 31, 2010 using the framework in
Internal Control &#150; Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission. Based on this assessment, the Company&#146;s
management concludes that, as of December 31, 2010, the Company&#146;s internal
controls over financial reporting were effective based on the framework in
Internal Control &#150; Integrated Framework.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; KPMG
LLP, an independent registered public accounting firm, has issued an
attestation report on the effectiveness of internal control over financial
reporting, which is included herein.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Date:&nbsp;&nbsp; March 14, 2011</font></p></td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<i><u><font size="2">/s/ </font></u></i><u><font size="2">Ronald A. Robinson</font></u></p>
		</td>
	</tr>
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">President &amp; Chief Executive Officer</font></p></td>
	</tr>
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<i><u><font size="2">/s/
  </font></u></i><u><font size="2">Dan E.
  Malone</font></u></p></td>
	</tr>
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Executive
  Vice President &amp;</font></p></td>
	</tr>
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Chief
  Financial Officer</font></p></td>
	</tr>
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<i><u><font size="2">/s/
  </font></u></i><u><font size="2">Richard J.
  Wehrle</font></u></p></td>
	</tr>
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Vice
  President &amp; Corporate Controller </font></p></td>
	</tr>
	<tr>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td width=319 valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Principal
  Accounting Officer</font></p></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:.5in;margin-bottom:0in;
margin-left:.5in;margin-bottom:.0001pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 40 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:12.0pt;margin-right:0in;margin-bottom:24.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-family:"Arial";font-weight:bold;margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">
<a name="Report_of_Independent_Registered_Public_Accounting_Firm_">Report of Independent Registered
Public Accounting Firm</a></font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;text-align:justify;font-size:11.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;text-align:justify;font-size:11.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The Board
of Directors and Stockholders Alamo Group Inc:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We have
audited Alamo Group Inc.&#146;s internal control over financial reporting as of
December&nbsp;31, 2010, based on criteria established in Internal Control &#150;
Integrated Framework issued by the Committee of Sponsoring Organizations of the
Treadway Commission (COSO). Alamo Group Inc.&#146;s management is responsible for
maintaining effective internal control over financial reporting and for its
assessment of the effectiveness of internal control over financial reporting,
included in the accompanying Report of Management on Internal Control over
Financial Reporting. Our responsibility is to express an opinion on the
Company&#146;s internal control over financial reporting based on our audit.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether
effective internal control over financial reporting was maintained in all
material respects. Our audit included obtaining an understanding of internal
control over financial reporting, assessing the risk that a material weakness
exists, and testing and evaluating the design and operating effectiveness of
internal control based on the assessed risk. Our audit also included performing
such other procedures as we considered necessary in the circumstances. We
believe that our audit provides a reasonable basis for our opinion.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">A company&#146;s
internal control over financial reporting is a process designed to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles. A company&#146;s internal control over
financial reporting includes those policies and procedures that
(1)&nbsp;pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the assets
of the company; (2)&nbsp;provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and that receipts and
expenditures of the company are being made only in accordance with
authorizations of management and directors of the company; and (3)&nbsp;provide
reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the company&#146;s assets that could have a
material effect on the financial statements.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Because of
its inherent limitations, internal control over financial reporting may not
prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In our
opinion, Alamo Group Inc. maintained, in all material respects, effective
internal control over financial reporting as of December&nbsp;31, 2010, based
on criteria established in Internal Control &#150; Integrated Framework issued by
the Committee of Sponsoring Organizations of the Treadway Commission.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We also
have audited, in accordance with the standards of the Public Company Accounting
Oversight Board (United States), the consolidated balance sheets of Alamo Group
Inc. and subsidiaries as of December&nbsp;31, 2010 and 2009, and the related
consolidated statements of income, stockholders&#146; equity, and cash flows for the
years ended December 31, 2010 and 2009, and our report dated March 14, 2011
expressed an unqualified opinion on those consolidated financial statements.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		&nbsp;</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<font size="2" face="Arial">/s/KPMG
  LLP</font></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">San
  Antonio, Texas<br>
		March 14,
  2011</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		&nbsp;</p></td>
	</tr>
	</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 41 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:12.0pt;margin-right:0in;margin-bottom:24.0pt;margin-left:0in;text-align:center;page-break-after:avoid;font-family:"Arial";font-weight:bold'>
<font size="2">Report
of Independent <a name="Registered_Public_Accounting">Registered Public Accounting</a> Firm</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The Board
of Directors and Stockholders Alamo Group Inc: </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We have
audited the accompanying consolidated balance sheets of Alamo Group Inc.
and&nbsp;subsidiaries as of December&nbsp;31, 2010 and 2009, and the related
consolidated statements of income, stockholders&#146; equity, and cash flows for the
years ended December 31, 2010 and 2009. These consolidated financial statements
are the responsibility of the Company&#146;s management. Our responsibility is to
express an opinion on these consolidated financial statements based on our
audits.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We
conducted our audit in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our
audits provide a reasonable basis for our opinion.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In our
opinion, the consolidated financial statements referred to above present
fairly, in all material respects, the financial position of Alamo Group Inc.
and subsidiaries as of December&nbsp;31, 2010 and 2009, and the results of
their operations and their cash flows for the years ended December 31, 2010 and
2009, in conformity with U.S.&nbsp;generally accepted accounting principles.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We also
have audited, in accordance with the standards of the Public Company Accounting
Oversight Board (United States), Alamo Group Inc.&#146;s internal control over
financial reporting as of December&nbsp;31, 2010, based on criteria established
in Internal Control &#150; Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission (COSO), and our report
dated March 14, 2011, expressed an unqualified opinion on the effectiveness of
the Company&#146;s internal control over financial reporting.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">As
discussed in Note 1 to the consolidated financial statements, the Company has
changed its method of accounting for business combinations in 2009 due to the
adoption of FASB ASC Topic 805, Business Combinations.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%" id="table7">
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		&nbsp;</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<font size="2" face="Arial">/s/KPMG
  LLP</font></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">San
  Antonio, Texas<br>
		March 14,
  2011</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		&nbsp;</p></td>
	</tr>
	</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 42 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<div style='page:Section1;'>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font style="font-size: 10.0pt">Report of <a name="Independent">Independent</a> Registered Public Accounting
Firm</font></b></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">&nbsp;</font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">The Board of Directors and Stockholders of Alamo Group
Inc.</font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">&nbsp; </font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">We have audited the accompanying consolidated
statements of income, stockholders' equity, and cash flows of Alamo Group Inc.
and subsidiaries (the Company) as of and for the year ended December 31, 2008.&nbsp; These financial statements are the responsibility of the Company's
management.&nbsp; Our responsibility is to express an opinion on these
financial statements based on our audits.</font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">&nbsp; </font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">We conducted our audits in accordance with the
standards of the Public Company Accounting Oversight Board (United
States).&nbsp; </font></p>
<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:10pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp; </p>
<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font style="font-size: 10.0pt">Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of
material misstatement.&nbsp; An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial
statements.&nbsp; An audit also includes assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation.&nbsp; We believe that our audits
provide a reasonable basis for our opinion.</font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">&nbsp; </font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">In our opinion, the financial statements
referred&nbsp;to above present fairly, in all material respects, the
consolidated results of operations and cash flows of Alamo Group Inc. and
subsidiaries for the year ended December 31, 2008, in conformity with U.S. generally accepted accounting principles.</font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">&nbsp; </font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify;text-autospace:
none; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">Ernst &amp; Young LLP</font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">San Antonio, Texas</font></p>

<p style='margin-top:3.0pt;margin-right:0in;margin-bottom:3.0pt;margin-left:0in;font-size:12.0pt;font-family:"Arial";margin-bottom:.0001pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">March 6, 2009</font></p>

</div>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 43 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Alamo Group Inc. and Subsidiaries</font></b></p>
<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold; margin-left:0in; margin-right:0in; margin-top:0in'>
<a name="Consolidated_Balance_Sheets_">Consolidated Balance
Sheets</a></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<table class=MsoNormalTable border=0 cellpadding=0 width=654
 style='width:100%;border-collapse:collapse'>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=6 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">December 31,</font></b></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>(in
   thousands, except per share amounts)</p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2010</font></b><font size="2">&nbsp;</font></p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
   border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
   padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='border-top:1.0pt solid windowtext;
   border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
   padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>
		<b>ASSETS</b></p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Current
  assets:</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Cash and
  cash equivalents </p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">30,243&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">17,774&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Accounts
  receivable, net</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">127,388&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">113,718&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Inventories
		</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">99,304&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">124,775&nbsp;</font></p></td>
	</tr>
	<tr style='height:1.0pt'>
		<td valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Deferred
  income taxes</p></td>
		<td valign=bottom style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3,813&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3,118&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Prepaid
  expenses </p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3,864&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3,147&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Income tax
  receivable&nbsp; </p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">448&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,195&nbsp;</font></p></td>
	</tr>
	<tr style='height:8.15pt'>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";margin-left:45.0pt'>Total current assets
		</p></td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">265,060&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">263,727&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Property,
  plant and equipment </p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">139,674&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">142,076&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Less:&nbsp;
  Accumulated depreciation </p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(78,490)</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(72,215)</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">61,184&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">69,861&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Goodwill
		</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">34,073&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">35,207&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Intangible
  assets</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">5,500&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">5,803&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Deferred
  income taxes</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">4,311&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">4,158&nbsp;</font></p></td>
	</tr>
	<tr style='height:10.35pt'>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Other assets
  		</p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">855&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,201&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";margin-left:45.0pt'>Total assets
		</p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">370,983&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">379,957&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:9.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>
		<b>LIABILITIES
  AND STOCKHOLDERS&#146; EQUITY</b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Current
  liabilities:</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Trade
  accounts payable</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">45,152&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">36,005&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Income taxes
  payable</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,567&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2,688&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Accrued
  liabilities</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">29,813&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">31,561&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Current
  maturities of long-term debt and capital lease obligations</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2,319&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">5,453&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Deferred
  income taxes</p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">338&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">4,109&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";margin-left:45.0pt'>Total current liabilities
		</p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">79,189</font></p></td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">79,816</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Long-term debt
  and capital lease obligation, net of current maturities </p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">23,106&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">44,336&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Accrued
  pension liabilities</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">7,151&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">7,640&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Other
  long-term liabilities</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2,109&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3,665&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Deferred
  income taxes</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">6,168&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">7,581&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.25in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Stockholders&#146;
  equity:</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Common stock,
  $.10 par value, 20,000,000 shares authorized; <br>11,872,479 and 11,789,529 issued and outstanding at December&nbsp;31, 2010
  and December&nbsp;31, 2009, respectively </p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,187&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,179&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Additional
  paid-in capital </p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">84,377&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">82,721&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Treasury
  stock, at cost: 42,600 shares at December&nbsp;31, 2010 and December&nbsp;31,
  2009</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(426)</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(426)</font></p></td>
	</tr>
	<tr style='height:8.1pt'>
		<td valign=bottom style='padding:0in;
  '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Retained
  earnings </p></td>
		<td valign=bottom style='padding:0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">166,589&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">148,298&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Accumulated
  other comprehensive income (loss)</p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,533&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">5,147&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:.5in;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";margin-left:45.0pt'>Total stockholders&#146; equity
		</p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">253,260</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">236,919</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:27.0pt;margin-bottom:.0001pt;text-indent:-9.0pt;font-size:10.0pt;font-family:"Arial";'>Total
  liabilities and stockholders&#146; equity </p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">370,983&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">379,957&nbsp;</font></p></td>
	</tr>
	<tr height=0>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt;text-align:right'>
</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">See accompanying notes. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 44 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Alamo Group Inc. and Subsidiaries</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2"><a name="Consolidated_Statements_of_Income_">Consolidated Statements of Income</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt;text-align:
center; margin-left:0in; margin-right:0in; margin-top:0in'><b>&nbsp;</b></p>
<table class=MsoNormalTable border=0 cellpadding=0 width=636
 style='width:100%;border-collapse:collapse'>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=8 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Year
  Ended December 31,</font></b></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(in
  thousands, except per share amounts)</font></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2008&nbsp;&nbsp;</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Net
  sales:</p></td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">North
  American</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Industrial
  </font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">192,379&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">173,905&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">254,787&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Agricultural
  		</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">173,464&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">92,415&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">120,232&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">European </font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">158,697&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">180,167&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">182,116&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Total net
  sales</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">524,540&nbsp;</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">446,487&nbsp;</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">557,135&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Cost of
  sales </font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">407,626&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">351,926&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">447,721&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Gross
  profit </font></p></td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">116,914&nbsp;</font></p></td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">94,561&nbsp;</font></p></td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">109,414&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Selling,
  general and administrative expenses</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">86,041</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">76,100&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">83,059&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Gain on
  bargain purchase</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(30,177)</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Goodwill
  impairment</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">14,104&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">5,010&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Income
  from operations </font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">30,873&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">34,534&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">21,345&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Interest
  expense </font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(3,664)</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(4,766)</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(7,450)</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Interest
  income</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,533&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">713&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,818&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Other
  income (expense), net</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">290&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">625&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,513&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Income
  before income taxes</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">29,032&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">31,106&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">17,226&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Provision
  for income taxes </font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">7,915&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12,473&nbsp;</font></p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">6,227&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Net
  income</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">21,117&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18,633&nbsp;</font></p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">10,999&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr style='height:6.75pt'>
		<td valign=top style='padding:0in;
  height:6.75pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net income
  per common share:</font></p></td>
		<td valign=top style='padding:0in;
  height:6.75pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  height:6.75pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  height:6.75pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  height:6.75pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  height:6.75pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  height:6.75pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  height:6.75pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  height:6.75pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Basic</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.79&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.80&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.12&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Diluted</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.78&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.80&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.11&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Average
  common shares:</font></p></td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Basic</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>11,782&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10,330&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>9,847&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Diluted</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>11,893&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10,363&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>9,950&nbsp;</p>
		</td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt;text-align:center'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">See accompanying notes.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 45 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Alamo Group Inc. and Subsidiaries</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2"><a name="Consolidated_Statements_of_Stockholders'
_Equity_">Consolidated Statements of
Stockholders&#146; Equity</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0 width=740
 style='width:100%;margin-left:0pt;border-collapse:collapse'>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>&nbsp;</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' colspan="4">
		<p align="center"><b><font size="2" face="Arial">Common Stock</font></b></td>
		<td colspan=4 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom-color:windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Additional</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Paid-in</font></b></p></td>
		<td colspan=2 valign=bottom style='border-bottom-style:solid; border-bottom-width:1px; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>&nbsp;</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom-color:windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p align="center"><b><font size="2" face="Arial">Treasury</font></b></td>
		<td colspan=2 valign=bottom style='border-bottom-style:solid; border-bottom-width:1px; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>&nbsp;</td>
		<td colspan=4 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom-color:windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p align="center"><b><font size="2" face="Arial">Retained</font></b></td>
		<td colspan=3 valign=bottom style='border-bottom-style:solid; border-bottom-width:1px; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>&nbsp;</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom-color:windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p align="center"><b><font size="2" face="Arial">Accumulated
  <br>Other<br>Comprehensive</font></b></td>
		<td valign=bottom style='border-bottom-style:solid; border-bottom-width:1px; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>&nbsp;</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom-color:windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p align="center"><b><font size="2" face="Arial">Total Stock-<br>holders&#146;</font></b></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(in thousands)</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-family:"Arial";font-weight:bold;line-height:11.0pt;page-break-after:auto; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Shares</font></td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Amount</font></b></p></td>
		<td colspan=4 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:1.0pt solid windowtext; border-top-color:inherit; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-top:0in;margin-right:0in;margin-bottom:0in;margin-left:-.15pt;margin-bottom:.0001pt;text-align:center;text-indent:-.15pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;margin-left:.15pt;line-height:11.0pt;page-break-after:auto'>
		<font size="2">Capital</font></td>
		<td colspan=2 valign=bottom style='border-top-style:solid; border-top-width:1px; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:1.0pt solid windowtext; border-top-color:inherit; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;text-align:center;line-height:11.0pt;page-break-after:
  auto; margin-left:0in; margin-right:0in; margin-top:0in'><font size="2">Stock</font></td>
		<td colspan=2 valign=bottom style='border-top-style:solid; border-top-width:1px; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:1.0pt solid windowtext; border-top-color:inherit; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;text-align:center;line-height:11.0pt;page-break-after:
  auto; margin-left:0in; margin-right:0in; margin-top:0in'><font size="2">Earnings</font></td>
		<td colspan=3 valign=bottom style='border-top-style:solid; border-top-width:1px; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:1.0pt solid windowtext; border-top-color:inherit; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;text-align:center;line-height:11.0pt;page-break-after:
  auto; margin-left:0in; margin-right:0in; margin-top:0in'><font size="2">Income</font></td>
		<td valign=bottom style='border-top-style:solid; border-top-width:1px; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:1.0pt solid windowtext; border-top-color:inherit; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;page-break-after:avoid;font-family:"Arial";font-weight:bold;text-align:center;line-height:11.0pt;page-break-after:
  auto; margin-left:0in; margin-right:0in; margin-top:0in'><font size="2">Equity</font></td>
	</tr>
	<tr style='page-break-inside:avoid;height:13.0pt'>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-.15pt;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:.15pt;text-indent:-.15pt;line-height:
  11.0pt'>&nbsp;</p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">Balance at
  December&nbsp;31, 2007</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">9,797&nbsp;</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">984&nbsp;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">53,610&nbsp;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">(426)</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">123,426&nbsp;</font></p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">21,104&nbsp;</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">198,698&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp; Net income
		</font></p></td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">10,999&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
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		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,161&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp; Dividends paid
  ($.24 per share)</font></p></td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(2,361)</font></p></td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(2,361)</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">Balance at
  December&nbsp;31, 2008</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">9,922&nbsp;</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">996&nbsp;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">55,683&nbsp;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">(426)</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">132,064&nbsp;</font></p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(4,005)</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">184,312&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp; Net income
		</font></p></td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; 18,633&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="right">
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  18,633&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp; Translation
  adjustment</font></p></td>
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		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
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		<font size="2">816&nbsp;</font></p></td>
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		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">13&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.15pt;text-align:right;
  text-indent:-.15pt;line-height:11.0pt; margin-right:0in; margin-top:0in'>
		<font size="2">1,105&nbsp;</font></p></td>
		<td colspan=2 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,118&nbsp;</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid;height:11.8pt'>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp; Dividends paid
  ($.24 per share)</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">(2,399)</font></p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(2,399)</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid;height:11.8pt'>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">Balance at
  December&nbsp;31, 2009</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">11,747&nbsp;</font></p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">1,179&nbsp;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">82,721&nbsp;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">(426)</font></p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">148,298&nbsp;</font></p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">5,147&nbsp;</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">236,919</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp; Net income
		</font></p></td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
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		<font size="2">(528)</font></p></td>
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		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(2,826)</font></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">&#151;</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(2,826)</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid;height:.25in'>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt; margin-right:0in; margin-top:0in'><font size="2">Balance at
  December&nbsp;31, 2010</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">11,830&nbsp;</font></p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">1,187&nbsp;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">84,377&nbsp;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">(426)</font></p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-.15pt;text-align:right;
  line-height:11.0pt; margin-left:0in; margin-top:0in'><font size="2">166,589</font></p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; $</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,533&nbsp;</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border:medium none;padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">253,260</font></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:9.0pt;text-indent:-9.0pt;line-height:
  11.0pt'>&nbsp;</p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-.15pt;text-align:right;
  line-height:11.0pt'>&nbsp;</p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-.15pt;text-align:right;
  line-height:11.0pt'>&nbsp;</p></td>
		<td colspan=2 valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-.15pt;text-align:right;
  line-height:11.0pt'>&nbsp;</p></td>
		<td colspan=2 valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right;line-height:11.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-.15pt;text-align:right;
  line-height:11.0pt'>&nbsp;</p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:-.15pt;text-align:right;
  line-height:11.0pt'>&nbsp;</p></td>
		<td colspan=3 valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right;line-height:11.0pt'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding-left:.15pt; padding-right:.15pt; padding-top:0in; padding-bottom:0in; height:11pt'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr height=0>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td width=0 style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td width=0 style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:medium none; ; height:11pt'></td>
		<td style='border:none'></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">See accompanying notes.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 46 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt;text-align:center;
line-height:11.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Alamo Group Inc. and Subsidiaries</font></b></p>
<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold; margin-left:0in; margin-right:0in; margin-top:0in'>
<a name="Consolidated_Statements_of_Cash_Flows_">Consolidated Statements of
Cash Flows</a></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<table class=MsoNormalTable border=0 cellpadding=0 width=656
 style='width:100%;border-collapse:collapse'>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=10 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Year Ended December 31,</font></b></p></td>
		<td style='border:none;padding:0in 0in 0in 0in' width=13 colspan=3 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(in
  thousands)</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;&nbsp;</font></p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=4 valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td colspan=4 valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2008</font></b><font size="2">&nbsp;&nbsp;&nbsp;</font></p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=13 colspan=2 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Operating
  Activities</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>&nbsp;</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net income</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>21,117&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>18,633</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10,999&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Adjustments
  to reconcile net income to cash provided by</font></p>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; operating
  activities:</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision
  for doubtful accounts</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1,112&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>546&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1,043&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation
  		</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10,558&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>8,706&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>9,261&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization
  of intangibles</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>342&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>79&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>99&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization
  of debt issuance</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>375&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>63&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gain
  on bargain purchase </font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(30,177)</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill
  impairment charge</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>14,104&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5,010&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock-based
  compensation </font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>674&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>543&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>563&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Excess
  tax benefits from stock-based payment arrangements </font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(122)</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(52)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision
  for deferred income tax expense (benefit)</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(6,384)</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>8,896&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>89&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Gain
  on sale of equipment </font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(833)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(59)</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(102)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Changes in
  operating assets and liabilities, net of effect of acquisitions:</font></p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b>
		<font size="2">Accounts receivable </font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(16,615)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>40,285&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(14,295)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories
  		</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>24,603&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>32,432&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(6,694)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid
  expenses and other </font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(1,061)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>3,177&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(588)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trade
  accounts payable and accrued liabilities </font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>9,133&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(25,408)</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5,004&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income
  taxes payable </font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(268)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>2,423&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(217)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other
  assets and liabilities, net</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(876)</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2,035)</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(1,396)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net cash
  provided by operating activities </font></p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>41,877</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='border:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>72,086&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>8,724&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp; </font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Investing
  Activities</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Acquisitions,
  net of cash acquired </font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(21,349)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Purchase
  of property, plant and equipment </font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(4,980)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(3,453)</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(6,553)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Proceeds
  from sale of property, plant and equipment </font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>2,014&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>922&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>213&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net cash
  used in investing activities </font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2,966)</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2,531)</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(27,689)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Financing
  Activities</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net change
  in bank revolving credit facility </font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(20,000)</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(54,000)</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>20,000&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Principal
  payments on long-term debt and capital leases </font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(4,545)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2,255)</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(1,604)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Proceeds
  from issuance of long-term debt</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>368&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1,387&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1,941&nbsp;</p>
		</td>
		<td width=12 valign=bottom style='width:9.0pt;padding:0in 0in 0in 0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Debt
  issuance cost</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(938)</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Dividends
  paid </font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2,826)</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2,399)</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2,361)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Proceeds
  from sale of common stock </font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>990&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1,118&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1,522&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Excess tax
  benefits from stock-based payment arrangements</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&#151;&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>122&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>52&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net cash
  provided by (used in) financing activities </font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(26,013)</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(56,965)</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>19,550&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Effect of
  exchange rate changes on cash </font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(429)</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>652&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(512)</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net change
  in cash and cash equivalents </font></p></td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>12,469&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>13,242&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding:
  0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>73&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Cash and
  cash equivalents at beginning of the year </font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>17,774&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>4,532&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>4,459&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:16.15pt'>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Cash and
  cash equivalents at end of the year </font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>30,243&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>17,774&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>4,532&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;
  padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Cash paid
  during the year for:</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Interest
  		</p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>3,597&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5,179&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>7,579&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Income
  taxes </p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>12,999&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5,181&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>6,591&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' width=12 valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr height=0>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td width=0 style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td width=0 style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td width=0 style='border:none' valign="bottom"></td>
		<td width=1 style='border:none' valign="bottom"></td>
		<td width=12 style='border:none' valign="bottom"></td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">See accompanying notes.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">&nbsp;- 47 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">Alamo Group Inc.</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2"><a name="Notes_to_Consolidated_Financial_Statements_">Notes to Consolidated Financial
Statements</a></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">1. SIGNIFICANT ACCOUNTING POLICIES</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;text-align:left'>
<b>Description of the Business and Segments </b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company manufactures, distributes and services
high quality tractor-mounted
mowing and other vegetation maintenance equipment, street sweepers, excavators,
vacuum trucks, snow removal equipment, pothole patchers, zero turn radius
mowers, agricultural implements and related aftermarket parts and services.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company manages its business in three principal reporting segments: North
America Agricultural, North American Industrial and European, which are
discussed in Notes 15 and 16.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify;text-indent:.5in'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'><b>Basis of Presentation and
Principles of Consolidation</b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The accompanying consolidated financial
statements include the accounts of Alamo Group Inc. and its subsidiaries (the
&#147;Company&#148; or &#147;Alamo Group&#148;), all of which are wholly owned. All significant
intercompany accounts and transactions have been eliminated in consolidation.
</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We have evaluated subsequent events that
occurred after December&nbsp;31, 2010 through the filing of this Form 10-K. Any
material subsequent events that occurred during this time have been properly
recognized or disclosed in our financial statements.</p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-top:4.5pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt;text-indent:22.5pt'><font size="2">Certain reclassifications have been made to prior year
balances in order to conform to the current year&#146;s presentation.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Use
of Estimates</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The preparation of financial statements in conformity
with U.S. generally accepted accounting principles requires management to make
estimates and assumptions that affect the amounts reported in the financial
statements and accompanying notes. Judgments related to asset impairment and
certain reserves are particularly subject to change. Actual results could
differ from those estimates.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Foreign Currency</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company translates the assets and liabilities of
foreign-owned subsidiaries at rates in effect at the end of the year. Revenues
and expenses are translated at average rates in effect during the reporting
period. Translation adjustments are included in accumulated other comprehensive
income within the statement of stockholders&#146; equity.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company enters into foreign currency forward
contracts to hedge its exposure to certain foreign currency transactions. The
Company does not hold or issue financial instruments for trading purposes.
Changes in the market value of the foreign currency instruments are recognized
in the financial statements upon settlement of the hedged transaction. On
December 31, 2010, the Company had $2,664,000 in outstanding forward exchange
contracts related to sales. The unrealized loss of the December 31, 2010
contracts that the Company expects to incur during the first quarter of 2011 is
approximately $27,000, net of taxes. Foreign currency transaction gains or
losses are included in Other income (expense), net. For 2010, 2009 and 2008,
such transactions netted gains of $265,000, $625,000, and $1,513,000,
respectively.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Cash Equivalents</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company considers all highly liquid investments
with original maturities of three months or less to be cash equivalents. </font>
</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Concentrations of Credit Risk</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Financial
instruments which potentially subject the Company to concentrations of credit
risk consist principally of accounts receivable. The credit risk is limited
because of the large numbers and types of customers and their geographic
dispersion.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 48 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Inventories</font></i></b></p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories of U.S. operating subsidiaries are stated at the lower of cost (last-in, first-out method) (&#147;LIFO&#148;) or market, and the Company&#146;s international subsidiaries&#146; inventories are stated at the lower of cost (first-in, first-out) (&#147;FIFO&#148;) or market.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;text-align:left'>
<b>Property, Plant and Equipment</b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property, plant, and equipment are stated on the basis
of cost. Major renewals and betterments are charged to the property accounts
while replacements, maintenance and repairs, which do not improve or extend the
lives of the respective assets, are expensed to the current period.
Depreciation is provided at amounts calculated to amortize the cost of the
assets over their estimated useful economic lives using the straight-line
method.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;text-align:left'>
<b>Goodwill</b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill
consists of the excess of the purchase price over the fair value of
identifiable net assets of businesses acquired. In the fourth quarter of each
year, or when events and circumstances warrant such a review, the Company tests
the goodwill of all of its reporting units for impairment. The goodwill
impairment test is determined using a two-step process. The first step is to
identify if a potential impairment exists by comparing the fair value of a
reporting unit with its carrying amount, including goodwill (Step 1). If the
fair value of a reporting unit exceeds its carrying value amount, goodwill of
the reporting unit is not considered to have a potential impairment and the
second step is not necessary. However, if the carrying amount of the reporting
unit exceeds its fair value, the second step (Step 2) is performed to determine
if goodwill is impaired and to measure the amount of impairment loss to
recognize, if any. Step 2 compares the implied fair value of goodwill with the
carrying amount of goodwill. If the implied value of goodwill is less than the
carrying amount of goodwill, then a charge is recorded to reduce goodwill to
the implied goodwill. The implied goodwill is calculated based on a
hypothetical purchase price allocation, in that it takes the implied fair value
of the reporting unit and allocates such fair value to the fair value of the
assets and liabilities of the reporting unit. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company estimates the fair value of its reporting
units using a discounted cash flow analysis. This analysis requires the Company
to make significant assumptions and estimates about the extent and timing of
future cash flows, discount rates and growth rates. The cash flows are
estimated over a significant future period of time, which makes those estimates
and assumptions subject to an even higher degree of uncertainty. The Company
also utilizes market valuation models and other financial ratios, which require
the Company to make certain assumptions and estimates regarding the
applicability of those models to its assets and businesses. The Company
believes that the assumptions and estimates used to determine the estimated
fair values of each of its reporting units are reasonable. However, different
assumptions could materially affect the estimated fair value. As of December
31, 2010, goodwill was $34,073,000, which represents 9% of total assets. The
Company recognized no goodwill impairment in 2010. The North American
Industrial segment had a goodwill impairment of $14,104,000 in 2009. During the 2010 impairment analysis
review, it was noted that even though the <i>Schwarze</i> reporting unit&#146;s fair
value was above carrying value it was not materially different. On December 31,
2010, there was approximately $6.8 million of goodwill related to the <i>Schwarze</i>
reporting unit. This reporting unit would be most likely affected by changes in
the Company&#146;s assumptions and estimates. The calculation of fair value could
increase or decrease depending on changes in the inputs and assumptions used,
such as changes in the reporting unit&#146;s future growth rates, discount rates,
etc. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">See Note 6
to the Consolidated Financial Statements for more information regarding
goodwill.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;text-align:left'>&nbsp;<b>Intangible Assets&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company&#146;s definite-lived intangible assets consist primarily of patents and
trade names. The gross carrying value of definite-lived intangible assets was
zero on December 31, 2010 and $1,147,000 on December 31, 2009 and $1,391,000 on
December 31, 2008. Accumulated amortization of definite-lived intangible assets
was $1,147,000 and $1,088,000 on December 31, 2010 and 2009, respectively.
Amortization expense of definite-lived intangible assets was $79,000 in 2010,
$79,000 in 2009, and $99,000 in 2008. During the fourth quarter of 2010, the
Company wrote off $224,000 in older patents which the Company believes no
longer provide a competitive advantage. The net book value of the patents and
trademarks was $5,500,000 and $5,803,000 as of December 31, 2010 and 2009,
respectively. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 49 -</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible
assets with indefinite useful lives not subject to amortization consist of the
<i>Gradall</i>
trade name valued at $3,600,000 and the <i>Bush Hog</i> trade name valued at
$1,900,000 on December 31, 2010.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company tests its indefinite-lived intangible assets for impairment on an
annual basis at year-end, or more frequently if an event occurs or
circumstances change that indicate that the fair value of an indefinite-lived
intangible asset could be below its carrying amount. The impairment test
consists of comparing the fair value of the indefinite-lived intangible asset,
determined using the relief from royalty method, with its carrying amount. An
impairment loss would be recognized for the carrying amount in excess of its
fair value. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identifiable
intangible assets are recorded at estimated cost. Definite-lived intangible
assets are amortized over their estimated useful lives.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;text-align:left'>
<b>Pensions</b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In connection with the February 3, 2006 purchase of all the
net assets of the <i>Gradall</i> excavator business, the Company assumed
sponsorship of two <i>Gradall</i> non-contributory defined benefit pension
plans, both of which were frozen with respect to both future benefit accruals
and future new entrants. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The <i>Gradall</i> Company Hourly Employees&#146; Pension Plan
covers approximately 310 former employees and 210 current employees who (i)
were formerly employed by JLG Industries, Inc., (ii) were covered by a
collective bargaining agreement and (iii) first participated in the plan before
April 6, 1997. An amendment ceasing all future benefit accruals was effective
April 6, 1997.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The <i>Gradall</i> Company Employees&#146; Retirement Plan covers
approximately 220 former employees and 120 current employees who (i) were
formerly employed by JLG Industries, Inc., (ii) were not covered by a
collective bargaining agreement, and (iii) first participated in the plan
before December 31, 2004. An amendment ceasing future benefit accruals for
certain participants was effective December 31, 2004. A second amendment
discontinued all future benefit accruals for all participants effective April
24, 2006.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;The Company recognizes the funded status of the
defined benefit pension plans as a liability in its statement of financial
position and recognizes any changes in that funded status in the year in which
the changes occur through other comprehensive income.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Related Party Transactions</font></i></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There were no reportable relationships or
related party transactions for the years ended December 31, 2010 and 2009.
During 1999, the Company approved a supplemental retirement benefit for Donald
J. Douglass which is paid on a quarterly basis over a period of fourteen and
one-half years that began in the year 2000. The balance on December 31, 2010
and 2009 was $248,000 and $308,000, respectively, and is included in the
Accrued liabilities and Other long-term liabilities sections of the Company&#146;s
consolidated balance sheet.</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Revenue Recognition</font></i></b></p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company
recognizes revenue when each of the following four criteria are met: 1) a
contract or sales arrangement exists; 2) products have been shipped per agreed
terms and title has been transferred or services have been rendered; 3) the
prices of the products or services are fixed or determinable; and 4)
collectability is reasonably assured. Pre-season sales orders are solicited in
the fall in advance of the dealer&#146;s sales season in the spring and summer.
Pre-season sales orders are shipped beginning in the fall and continuing
through the spring and represent an opportunity for the Company&#146;s factories to
level their production/shipping volumes through the winter months. These
pre-season shipments carry descending discounts in conjunction with delayed payment
terms of up to six months from the dealer&#146;s requested delivery date. Revenue
from sales is recorded net of a provision for discounts that are anticipated to
be earned and deducted at time of payment by the customer. These approximated
discounts represent an average of historical amounts taken and are adjusted as
program terms are changed. The reserves for discounts are reviewed and adjusted
quarterly. From time to time, revenue is
recognized under a bill and hold arrangement.</p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 50 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Accounting
for Internal Use Software</font></i></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company
capitalizes certain costs associated with the development and installation of
internal use software. Internal use software costs are expensed or capitalized
depending on whether they are incurred in the preliminary project stage, application
development stage or the post-implementation stage. Amounts capitalized are
amortized over the estimated useful lives of the software.</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
book value of capitalized software net of depreciation is approximately
$1,779,000 and $1,516,000 on December 31, 2010 and December 31, 2009,
respectively. Software depreciation expense was $749,000, $721,000 and $992,000
in 2010, 2009 and 2008, respectively. Internal use software is amortized for
financial reporting purposes using the straight-line method over the estimated
life of two to seven years.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Shipping
and Handling Costs</font></i></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company&#146;s policy is
to include shipping and handling costs in costs of goods sold.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt'>
<b><i>&nbsp;</i></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";'>
<b><i>Advertising</i></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We charge
advertising costs to expense as incurred. Advertising and marketing expense
related to operations for fiscal years 2010, 2009 and 2008 was approximately
$5,135,000, $4,378,000 and $5,735,000, respectively. Advertising and marketing
expenses are included in Selling, General and Administrative expenses
(&#147;SG&amp;A&#148;).</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Research and Development</font></i></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Product development and engineering costs
charged to SG&amp;A amounted to $5,774,000, $4,762,000, and $5,443,000 for the
years ended December&nbsp;31, 2010, 2009 and 2008, respectively. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>
<b><i>Legal Costs</i></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-top:4.5pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company&#146;s
policy is to accrue for legal costs expected to be incurred in connection with
loss contingencies.</font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:4.5pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Federal Income Taxes</font></i></b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Arial";margin-top:4.5pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred
tax assets and liabilities are determined based on differences between the
financial reporting basis and tax basis of assets and liabilities and are
measured by applying
enacted statutory tax rates applicable to the future years in which deferred
tax assets or liabilities are expected to be settled or realized. In assessing
the realizability of deferred tax assets, management considers whether it is
more likely than not that some portion or all of the deferred tax assets will
be realized. The ultimate realization of deferred tax assets is dependent upon
the generation of future taxable income during the periods in which those
temporary differences become deductible. Management considers the scheduled
reversals of deferred tax liabilities, projected future taxable income, and tax
planning strategies in making this assessment. Based upon projections of future
taxable income over the periods in which the deferred tax assets are
deductible, management believes it is more likely than not that we will realize
the benefits of these deductible differences. </font></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:4.5pt;margin-right:0in;margin-bottom:0in;margin-left:0in;
margin-bottom:.0001pt;text-indent:27.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We do
not provide for a U.S. income tax liability on undistributed earnings of our
foreign subsidiaries. The earnings of non-U.S. subsidiaries, which reflect full
provision for non-U.S. income taxes, are currently indefinitely reinvested in
non-U.S. operations.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:13.5pt;text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Business
Combinations</font></i></b><font size="2"> </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effective
January&nbsp;1, 2009, we adopted the new provisions of ASC Topic 805, &#147;Business
Combinations,&#148; which address the recognition and measurement of
(i)&nbsp;identifiable assets acquired or liabilities assumed, and any
non-controlling interest in the acquiree, and (ii)&nbsp;goodwill acquired or
gain from a bargain purchase. In addition, acquisition-related costs are
accounted for as expenses in the period in which the costs are incurred and the
services are received. These provisions were applied to the acquisition of
certain assets and liabilities of Bush Hog LLC in the fourth quarter of 2009,
which is discussed in Note 20.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 51 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Stock-Based
Compensation</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">&nbsp;</font></i></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effective
January&nbsp;1, 2006, we began using the modified-prospective transition method.
However, for unvested equity awards outstanding as of the date of January 1,
2006, we continue to amortize those awards using the minimum value method. Beginning
January 1, 2006 measurement and recognition of compensation expense for all
share-based payment awards made to employees and directors is recognized based
on estimated fair values. We use the Black-Scholes pricing model to determine
the fair value of the stock options on the grant dates for stock awards made on
or after January&nbsp;1, 2006, and we amortize the fair value of share-based
payments on a straight-line basis over the requisite service periods of the award,
which is generally the vesting period. </p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Black-Scholes
valuation model requires us to make assumptions and judgments about the
variables used in the calculation. These variables and assumptions include the
fair value of our common stock, expected term, the expected volatility, the
risk-free interest rate, expected dividends, and the estimated rate of
forfeitures of unvested stock options. <a name="para_17"></a></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company calculated
the fair value for options using a Black-Scholes option-pricing model with the
following weighted-average assumptions for 2010, 2009, and 2008:</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>
<table cellpadding=0 cellspacing=0 align=left>
	<tr>
		<td><font size="2" face="Arial">
		</font></td>
	</tr>
</table>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="75%">
		<tr style='page-break-inside:avoid'>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=10 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>&nbsp;<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=3 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=3 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2008</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr style='page-break-inside:avoid;height:13.9pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr style='height:.2in'>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";text-align:left'>
			<font size="2">Risk-free interest rate</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">3.04%</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2.67%</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">3.13%</font></p></td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr style='height:.2in'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";text-align:left'>
			<font size="2">Dividend yield</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1.20%</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1.20%</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1.20%</font></p></td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr style='height:.2in'>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";text-align:left'>
			<font size="2">Volatility factors</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman";text-align:left'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";text-align:right'>
			<font size="2">44.3%</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";text-align:right'>
			<font size="2">42.8%</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";text-align:right'>
			<font size="2">43.6%</font></p></td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr style='height:.2in'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:center;font-family:"Arial";text-align:left'>
			<font size="2">Weighted-average expected life</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">8.0 years</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">7.5 years</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">9.0 years</font></p></td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr height=0>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td width=0 style='border:none'></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Fair
Value Measurements and Disclosures</font></i></b><font size="2"> </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
January&nbsp;2010, the provisions of ASC Topic 820 were modified to require
additional disclosures, including transfers in and out of Level 1 and 2 fair
value measurements and the gross basis presentation of the reconciliation of
Level 3 fair value measurements. This guidance is effective for interim and
annual reporting periods beginning after December&nbsp;15, 2009, except for
disclosures related to Level 3 fair value measurements, which are effective for
fiscal years beginning after December&nbsp;15, 2010 (including interim
periods). Early adoption is permitted. We have adopted all of these provisions
of ASC Topic 820 effective December&nbsp;31, 2009. Since only disclosures are
affected by these requirements, the adoption of these provisions did not affect
our financial position or results of operations.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">2. EARNINGS PER SHARE</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
following table sets forth the reconciliation from basic to diluted average
common shares and the calculations of net income per common share. Net income
for basic and diluted calculations does not differ. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:0.0pt;border-collapse:collapse' width="100%">
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in&nbsp;
  thousands, except per share amounts)</p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b><font size="2">&nbsp;</font></p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2008</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr style='page-break-inside:avoid;height:9.85pt'>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Net
  income</p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">21,117</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">18,633</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">10,999</font></p></td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Average
  common shares:</p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Basic
  (weighted-average outstanding shares)</p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>11,782</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10,330</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>9,847</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 bgcolor="#B9DCFF" valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr style='height:7.65pt'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Dilutive
  potential common shares from stock&nbsp;  options </p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>111</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>33</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>103</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 bgcolor="#B9DCFF" valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Diluted
  (weighted-average outstanding shares) </p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">11,893</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">10,363</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">9,950</font></p></td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom" bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Basic
  earnings per share </p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.79</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.80</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.12</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom" bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Diluted
  earnings per share </p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.78</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.80</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1.11</p>
			</td>
			<td style='border:none;padding:0in 0in 0in 0in' width=0 valign="bottom">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock
options totaling 133,700 shares in 2010, 304,533 shares in 2009, and 188,523
shares in 2008 were not included in the diluted earnings per share calculation
because the effect would have been anti-dilutive.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 52 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">3.
VALUATION AND QUALIFYING ACCOUNTS</font></b></p>
<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-bottom:.25in;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>Valuation and qualifying accounts included the
following:</p>
<table class=MsoNormalTable border=0 cellpadding=0 width=637
 style='width:100%;border-collapse:collapse'>
	<tr style='page-break-inside:avoid'>
		<td colspan=4 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in
  thousands)</p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Balance</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Beginning of</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Year</font></b></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Net</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Charged to <br>Costs and</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Expenses</font></b></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Translations,</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Reclassifications</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">and Acquisitions</font></b></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Net Write-Offs or
  <br>Discounts Taken</font></b></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Balance</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">End of</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Year</font></b></p></td>
		<td style='border:none;border-bottom:solid windowtext 1.0pt' valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:12.6pt'>
		<td valign=bottom style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2010</font></b></p></td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding:0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding:
  0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding:0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='border:medium none;padding:
  0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Allowance
  for doubtful accounts</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;$&nbsp;&nbsp;&nbsp; 2,548&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,112&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (81)</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (727)</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp; 2,852&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:9.0pt'>
		<td colspan=2 valign=bottom style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Reserve
  for sales discounts</font></p></td>
		<td valign=bottom style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>3,803&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>51,813&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2)</p>
		</td>
		<td valign=bottom style='padding:0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(43,711)</p>
		</td>
		<td valign=bottom style='padding:0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>11,903&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:9.9pt'>
		<td colspan=2 valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Reserve
  for inventory obsolescence</font></p></td>
		<td valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>9,060&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>2,811&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(230)</p>
		</td>
		<td valign=bottom style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(4,135)</p>
		</td>
		<td valign=bottom style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>7,506&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='height:12.6pt'>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Reserve
  for warranty</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5,972&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>7,225&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(173)</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(7,470)</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5,554&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2009</font></b></p></td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding:
  0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding:
  0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='border:medium none;padding:
  0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Allowance
  for doubtful accounts</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;$&nbsp;&nbsp;&nbsp; 2,430&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (543)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp; 2,548&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Reserve
  for sales discounts</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>6,849&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>25,514&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(28,565)</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>3,803&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Reserve
  for inventory obsolescence</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>8,978&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1,515&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>163&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(1,596)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>9,060&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Reserve
  for warranty</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>4,764&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>6,609&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1,250&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(6,651)</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5,972&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2008</font></b></p></td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;
  padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='border:medium none;padding:
  0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Allowance
  for doubtful accounts</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;$&nbsp;&nbsp;&nbsp; 1,922&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (458)</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>$&nbsp; 2,430&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Reserve
  for sales discounts</font></p></td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>6,338&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>36,311&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(16)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(35,784)</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>6,849&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Reserve
  for inventory obsolescence</font></p></td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>8,526&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>570&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>452&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(570)</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>8,978&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom" bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Reserve
  for warranty</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>4,093&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>7,554&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>286&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(7,169)</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=4 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>4,764&nbsp;</p>
		</td>
		<td style='border:none;padding:0in 0in 0in 0in' valign="bottom">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Allowance
for Doubtful Accounts</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font></p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>The Company
evaluates the collectability of its accounts receivable based on a combination
of factors. In circumstances where it is aware of a specific customer&#146;s
inability to meet its financial obligations, the Company records a specific
reserve to reduce the amounts recorded to what it believes will be collected.
For all other customers, it recognizes reserves for bad debt based on
historical experience of bad debts as a percent of revenues for each business
unit, adjusted for relative improvements or deteriorations in the aging and
changes in current economic conditions.</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company evaluates all receivables that are over 60 days old and will reserve
specifically on a 90-day basis. The Company
has a secured or insured interest on most of its wholegoods that each customer
purchases. This allows the Company, in times of a difficult economy when the
customer is unable to pay or has filed for bankruptcy (usually Chapter 11), to
repossess the customer&#146;s inventory. This also allows Alamo Group to maintain
only a reserve over its cost, which usually represents the margin on the
original sales price.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
allowance for doubtful accounts balance was $2,852,000 on December 31, 2010,
and $2,548,000 on December 31, 2009. The increase was mainly from the Company&#146;s
Agricultural operations.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Sales
Discounts</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
December 31, 2010, the Company had $11,903,000 in reserves for sales discounts
compared to $3,803,000 on December 31, 2009 on product shipped to our customers
under various promotional programs. The increase was due primarily to higher
sales activity of the Company&#146;s agricultural products during the pre-season,
which runs from September to December of each year with orders shipped through
the first quarter of 2011. The Company reviews the reserve quarterly based on
analysis made on each program outstanding at the time. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The Company bases its reserves on historical data relating
to discounts taken by the customer under each program. Historically, between
85% and 95% of the Company&#146;s customers who qualify for each program actually
take the discount that is available.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 53 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Inventories
&#150; Obsolete and Slow Moving</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company had a reserve of $7,506,000 on December 31, 2010 and $9,060,000 on
December 31, 2009 to cover obsolete and slow moving inventory. The decrease in
the reserve was mainly from the Company&#146;s U.S. operations, specifically its
facilities in Gibson City and Indianola as a result of greater disposals and
sales of slow moving and obsolete inventory. The obsolete and slow moving
inventory policy states that the reserve is to be calculated as follows: 1) no
inventory usage over a three-year period is deemed obsolete and reserved at 100
percent; and 2) slow moving inventory with little usage requires a 100 percent
reserve on items that have a quantity greater than a three-year supply. There
are exceptions to the obsolete and slow moving classifications if approved by
an officer of the Company, based on specific identification of an item or items
that are deemed to be either included or excluded from this classification. In
cases where there is no historical data, management makes a judgment based on a
specific review of the inventory in question to determine what reserves, if
any, are appropriate. New products or parts are generally excluded from the
reserve policy until a three-year history has been established.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Warranty</font></i></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><font size="2">The Company&#146;s warranty policy is
generally to provide its customers warranty for up to one year on all wholegood
units and 90 days on parts.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warranty
reserve, as a percentage of sales, is generally calculated by looking at the
current twelve months&#146; expenses and prorating that amount based on twelve
months&#146; sales with a ninety-day to six-month lag period. The Company&#146;s
historical experience is that an end-user takes approximately 90 days to six
months from the receipt of the unit to file a warranty claim. A warranty
reserve is established for each different marketing group. Reserve balances are
evaluated on a quarterly basis and adjustments made when required.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
current liability warranty reserve balance was $5,554,000 on December 31, 2010
and $5,972,000 on December 31, 2009. The decrease came mainly from the
acquisition of <i>Bush Hog</i>.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">4. INVENTORIES</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:8.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><font size="2">Inventories valued at LIFO represented 63% of total inventory for the
years ended December&nbsp;31, 2010 and 2009, respectively. The excess of
current costs over LIFO-valued inventories was $7,654,000 and $9,106,000 on
December&nbsp;31, 2010 and December&nbsp;31, 2009, respectively. The $1,452,000
decrease in LIFO reserve during 2010 came from reductions in inventory levels
within U.S. operations. The impact of the application of the LIFO method on the
Statement of Income for the years ended December 31, 2010, was a decrease to
cost of sales of $1,452,000, and a decrease in 2009 of $3,685,000 and an
increase in 2008 of $3,729,000. Inventories consisted of the following on a
cost basis, net of reserves:</font></p>
<div align="center">
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:61.6pt;border-collapse:collapse;margin-left:6.75pt;
 margin-right:6.75pt' width="50%">
		<tr style='page-break-inside:avoid'>
			<td width=254 valign=top style='width:190.4pt;padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td width=168 colspan=5 valign=top style='width:1.75in;border:none;
  border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td width=254 valign=top style='width:190.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in
  thousands)</p></td>
			<td width=79 colspan=2 valign=top style='width:59.3pt;border:none;border-bottom:
  solid windowtext 1.0pt;padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
			<td width=18 valign=top style='width:13.5pt;border-top:solid windowtext 1.0pt;
  border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;
  padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td width=71 colspan=2 valign=top style='width:53.2pt;border-top:solid windowtext 1.0pt;
  border-left:none;border-bottom:solid windowtext 1.0pt;border-right:none;
  padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr style='height:13.0pt'>
			<td width=254 valign=top style='width:190.4pt;border:none;padding:0in 0in 0in 0in;
  height:13.0pt' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Finished
  goods and parts </font></p></td>
			<td width=16 valign=top style='width:12.1pt;border:none;padding:0in 0in 0in 0in;
  height:13.0pt' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td width=63 valign=top style='width:47.2pt;border:none;padding:0in 0in 0in 0in;
  height:13.0pt' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">80,102</font></p></td>
			<td width=18 valign=top style='width:13.5pt;border:none;padding:0in 0in 0in 0in;
  height:13.0pt' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td width=15 valign=top style='width:11.3pt;border:none;padding:0in 0in 0in 0in;
  height:13.0pt' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td width=56 valign=top style='width:41.9pt;border:none;padding:0in 0in 0in 0in;
  height:13.0pt' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">103,134</font></p></td>
		</tr>
		<tr>
			<td width=254 valign=top style='width:190.4pt;padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Work in
  process </font></p></td>
			<td width=16 valign=top style='width:12.1pt;padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td width=63 valign=top style='width:47.2pt;padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">9,857</font></p></td>
			<td width=18 valign=top style='width:13.5pt;padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td width=15 valign=top style='width:11.3pt;padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td width=56 valign=top style='width:41.9pt;padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">10,611</font></p></td>
		</tr>
		<tr>
			<td width=254 valign=top style='width:190.4pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Raw
  materials </font></p></td>
			<td width=16 valign=top style='width:12.1pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td width=63 valign=top style='width:47.2pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">9,345</font></p></td>
			<td width=18 valign=top style='width:13.5pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td width=15 valign=top style='width:11.3pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td width=56 valign=top style='width:41.9pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">11,030</font></p></td>
		</tr>
		<tr>
			<td width=254 valign=top style='width:190.4pt;border:none;border-bottom:solid windowtext 2.25pt;
  padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td width=16 valign=top style='width:12.1pt;border:none;border-bottom:solid windowtext 2.25pt;
  padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td width=63 valign=top style='width:47.2pt;border:none;border-bottom:solid windowtext 2.25pt;
  padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">99,304</font></p></td>
			<td width=18 valign=top style='width:13.5pt;border:none;border-bottom:solid windowtext 2.25pt;
  padding:0in 0in 0in 0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td width=15 valign=top style='width:11.3pt;border:none;border-bottom:solid windowtext 2.25pt;
  padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td width=56 valign=top style='width:41.9pt;border:none;border-bottom:solid windowtext 2.25pt;
  padding:0in 0in 0in 0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">124,775</font></p></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:12.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;
</font></b></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 54 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:12.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">5. PROPERTY, PLANT AND EQUIPMENT</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:12.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></b><font size="2">Property, plant and equipment consist of the following:</font></p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:25.6pt;border-collapse:collapse' width="75%">
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=8 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">December 31,</font></b></p></td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Times New Roman";font-weight:bold;page-break-after:auto'>&nbsp;</p>
		</td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in
  thousands)</p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;&nbsp;</font></p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=5 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;&nbsp;</font></p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;page-break-after:auto; margin-left:0in; margin-right:0in; margin-top:0in'>Useful
		</p>
		<p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-weight:bold;page-break-after:auto; margin-left:0in; margin-right:0in; margin-top:0in'>Lives</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Land</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>8,656&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>9,226&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Buildings
  and improvements </font></p></td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>55,237&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>58,862&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">10-20 yrs.</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Machinery
  and equipment</font></p></td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>55,438&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>54,478&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3-15 yrs.</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Office
  furniture and equipment </font></p></td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5,769&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>6,065&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3-7 yrs.</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Computer
  software</font></p></td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>10,111&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>9,078&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2-7 yrs.</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Transportation
  equipment </font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>4,463&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>4,367&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3 yrs.</font></p></td>
	</tr>
	<tr>
		<td valign=bottom style='border:medium none;padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>139,674&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>142,076&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border:medium none;padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border:medium none;padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Accumulated
  depreciation </font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(78,490)</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(72,215)</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>61,184&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>69,861&nbsp;</p>
		</td>
		<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:3.1pt; padding-right:3.1pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
	</tr>
	<tr height=0>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
		<td style='border:none' valign="bottom"></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Property,
plant and equipment on December&nbsp;31, 2010 and December&nbsp;31, 2009
include $16,955,000 and $18,364,000, respectively, for items listed above that
are held under capital leases. Accumulated depreciation relating to the capital
leases on December 31, 2010 and 2009 was $7,428,000 and $7,233,000,
respectively. Amortization related to the capital lease is included in
depreciation expense.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">6. GOODWILL</font></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
changes in the carrying amount of goodwill for the twelve months ended December
31, 2008, 2009 and 2010 are as follows: </font></p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:0pt;border-collapse:collapse' width="75%">
		<tr style='page-break-inside:avoid'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(in
  thousands)</font></p></td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
		</tr>
		<tr style='height:10.9pt'>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Balance
  at December 31, 2007</p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>43,946&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Acquisition
  (<i>Rivard</i>)</p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>12,787&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Translation
  adjustment</p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(3,616)</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Goodwill
  impairment</p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(5,010)</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Balance
  at December 31, 2008</p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>48,107&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Translation
  adjustment</p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,204&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Goodwill
  impairment</p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(14,104)</font></p></td>
		</tr>
		<tr style='height:10.9pt'>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Balance
  at December 31, 2009</p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>35,207&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Translation
  adjustment</p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(1,134)</font></p></td>
		</tr>
		<tr style='height:12.6pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Balance at
  December 31, 2010</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">34,073&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:24.5pt;background:white'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">7. ACCRUED LIABILITIES</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued liabilities consist of the following balances:</font></p>
<div align="center">
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:0pt;border-collapse:collapse' width="75%">
		<tr style='page-break-inside:avoid;height:11.7pt'>
			<td valign=top style='height:11.7pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=5 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; height:11.7pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid;height:12.95pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; height:12.95pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in
  thousands)</p></td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; height:12.95pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b><font size="2">&nbsp;</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; height:12.95pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; height:12.95pt; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b><font size="2">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Salaries,
  wages and bonuses</p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>12,605</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>12,696</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Warranty </font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5,554</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5,972</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">State
  taxes</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5,323</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5,463</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Retirement</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2,210</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2,313</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Other</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">4,121</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5,117</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">29,813</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">31,561</font></p></td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b><font size="2">- 55 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">8. LONG-TERM DEBT</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:7.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The components of long-term debt are as follows:</font></p>
<div align="center">
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:0pt;border-collapse:collapse' width="75%">
		<tr style='page-break-inside:avoid'>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=5 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in
  thousands)</p></td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b><font size="2">&nbsp;</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b><font size="2">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Bank
  revolving credit facility </p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">21,000</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">41,000</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Capital
  lease obligations </font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1,763</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">3,233</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Other
  notes payable </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">2,662</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">5,556</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Total debt
  </font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">25,425</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">49,789</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Less
  current maturities </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">2,319</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">5,453</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Total
  long-term debt</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">23,106</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">44,336</font></p></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On August 25, 2004, the
Company entered into a five-year $70 million Amended and Restated Revolving
Credit Agreement with its lenders, Bank of America, JPMorgan Chase Bank, and
Guaranty Bank. This contractually-committed, unsecured facility allows the
Company to borrow and repay amounts drawn at floating or fixed interest rates
based upon Prime or LIBOR rates. Proceeds may be used for general corporate
purposes or, subject to certain limitations, acquisitions. The loan agreement contains
among other things the following financial covenants:&nbsp; Minimum Fixed Charge
Coverage Ratios, Minimum Consolidated Tangible Net Worth, Consolidated Funded
Debt to EBITDA Ratio and Minimum Asset Coverage Ratio, along with limitations
on dividends, other indebtedness, liens, investments and capital expenditures.
</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
October 14, 2008, the Company entered into the Sixth Amendment and Waiver under
the Amended and Restated Revolving Credit Agreement. The purpose of the
amendment and waiver was to clarify company names within the Obligated Group
after merging or dissolving some subsidiaries, to define operating cash flow
and defining quarterly operating cash flow for <i>Rivard</i> through March 31,
2009. Beginning June 30, 2009, <i>Rivard</i>&#146;s actual operating cash flow will
be used in the calculation of consolidated operating cash flow.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
November 6, 2009, the Company entered into the Seventh Amendment of the Amended
and Restated Revolving Credit Agreement with Bank of America, N.A., Wells Fargo
Bank, N.A., BBVA Compass Bank, and Rabobank, as its lenders. The revolving
credit line remained at $125.0 million. Prior to the execution of this
Amendment, BBVA Compass Bank acquired certain assets of Guaranty Bank which
included this credit facility, and JPMorgan Chase Bank assigned its interest to
Well Fargo Bank, N.A. The purpose of the amendment was to add <i>Bush Hog</i>
as a member of the Obligated Group and pledge a first priority security
interest in certain U.S. assets (accounts receivable, inventory, equipment,
trademarks and trade names) of the Borrower and each member of the Obligated
Group. The Lenders agreed to increase the operating leverage ratio during the
next three quarters and to add a new EBIT to Interest Expense covenant in
exchange for a commitment fee and an increase in the Applicable Interest Margin
over LIBOR or Prime Rate advances. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of
December 31, 2010, there was $21,000,000 borrowed under the revolving credit
facility. On December 31, 2010, $833,000 of the revolver capacity was committed
to irrevocable standby letters of credit issued in the ordinary course of
business as required by vendors&#146; contracts resulting in approximately
$103,000,000 in available borrowings.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
May 13, 2008, Alamo Group Europe Limited expanded its overdraft facility with
Lloyd&#146;s TSB Bank plc from &pound; 1.0 million to &pound; 5.5 million. The facility was
renewed on October 29, 2010 and outstandings
currently bear interest at Lloyd&#146;s Base Rate plus 1.4% per annum. The facility
is unsecured but guaranteed by the U.K. subsidiaries of Alamo Group Europe
Limited. As of December 31, 2010, there were no outstanding balances in British
pounds borrowed against the U.K. overdraft facility.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There
are additional lines of credit: for the Company&#146;s French operations in the
amount of 7,300,000 Euros, which includes the <i>Rivard</i>
credit facilities; for our Canadian operation in the amount of 3,500,000
Canadian dollars; and for our Australian operation in the amount of 800,000
Australian dollars. As of December 31, 2010, no Euros were borrowed against the
French line of credit; no Canadian dollars were outstanding on the Canadian
line of credit; and 600,000 Australian dollars were outstanding under its
facility. The Canadian and Australian revolving credit facilities are
guaranteed by the Company. The Company&#146;s borrowing levels for working capital
are seasonal with the
greatest utilization generally occurring in the first quarter and early spring.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:13.5pt;text-indent:.5in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 56 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt;text-align:justify;text-indent:
..7pt; margin-left:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December 31,
2010, the Company is in compliance with the terms and conditions of its credit
facilities.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
aggregate maturities of long-term debt, as of December&nbsp;31, 2010, are as
follows: $2,319,000 in 2011; $21,477,000 in 2012; $499,000 in 2013; $336,000 in
2014; $242,000 in 2015; and $552,000 thereafter.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
fair value of the Company&#146;s debt is based on secondary market indicators. Since
the Company&#146;s debt is not quoted, estimates are based on each obligation&#146;s
characteristics, including remaining maturities, interest rate, credit rating,
collateral, amortization schedule and liquidity. The carrying amount
approximates fair value.</font><a name="OLE_LINK4"><font size="2"></font></a></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">9. DERIVATIVES AND HEDGING</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Most of the Company&#146;s outstanding debt is advanced
from a revolving credit facility that accrues interest at a contractual margin over current market interest rates. The
Company&#146;s financing costs associated with this credit facility can materially
change with market increases and decreases of short-term borrowing rates,
specifically London Inter Bank Operating Rate (&#147;LIBOR&#148;). During the second
quarter of 2007, the Company entered into two interest rate swap agreements
with JPMorgan that hedge future cash flows related to its outstanding debt
obligations. One swap had a three-year term and fixed the LIBOR base rate at
4.910% covering $20 million of this debt which expired on March 31, 2010. The
other swap has a four-year term and fixed the LIBOR base rate at 4.935%
covering an additional $20 million of these variable rate borrowings and
expires on March 31, 2011. On November 5, 2009, JPMorgan transferred the swap
transactions to Bank of America. The terms of the hedging instrument remain the
same. As of December 31, 2010, the Company had $21 million outstanding under
its revolving credit facility and one interest rate swap contract designated as
cash flow hedge which is effectively hedging $20 million of these borrowings
from changes in underlying LIBOR base rates. The fair market value of this
hedge, which is the amount that would have been paid or received by the Company
had it prematurely terminated this swap contract at December 31, 2010, was a
$231,000 liability. This is included in Accrued liabilities with an offset in
Accumulated other comprehensive income, net of taxes. At December 31, 2010,
ineffectiveness related to the interest rate swap agreement was not material.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">10. FAIR VALUE MEASUREMENTS</font></b></p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Fair value is
defined as the exchange price that would be received for an asset or paid to
transfer a liability (an exit price) in the principal or most advantageous
market for the asset or liability in an orderly transaction between market
participants. There is a three-tier fair value hierarchy based upon the
observability of inputs used in valuation techniques. Observable inputs
(highest level) reflect market data obtained from independent sources, while
unobservable inputs (lowest level) reflect internally developed market
assumptions. In Fair value measurements are classified under the following
hierarchy:</p>
<p style='margin:0in;margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:.5in;text-indent:0in; margin-right:0in; margin-top:0in'>
<b>Level 1 </b>&#150;
Quoted prices for identical instruments in active markets.</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:.5in;text-indent:0in; margin-right:0in; margin-top:0in'>
<b>Level 2</b> &#150;
Quoted prices for similar instruments in active markets; quoted prices for
identical or similar instruments in markets that are not active; and
model-derived valuations in which all significant inputs or significant
value-drivers are observable in active markets.</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:.5in;text-indent:0in; margin-right:0in; margin-top:0in'>
<b>Level 3</b> &#150;
Model-derived valuations in which one or more significant inputs or significant
value-drivers are unobservable</p>
<p style='margin:0in;margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Times New Roman";text-indent:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>When available, the
Company uses quoted market prices to determine fair value, and the Company
classifies such measurements within Level 1. In some cases where market prices
are not available, the Company makes use of observable market-based inputs to
calculate fair value, in which case the measurements are classified with Level
2. If quoted or observable market prices are not available, fair value is based
upon internally developed models that use, where possible, current market-based
parameters such as interest rates, yield curves, currency rates, etc. These
measurements are classified within Level 3.</p>
<p style='margin:0in;margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Times New Roman";text-indent:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Fair value
measurements are classified to the lowest level input or value-driver that is
significant to the valuation. A measurement may therefore be classified within
Level 3 even though there may be significant inputs that are readily
observable.</p>
<p style='margin:0in;margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b>Derivative
financial instruments</b></p>
<p style='margin:0in;margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 57 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>The fair value of
interest rate swap derivatives is primarily based on third-party pricing
service models. These models use discounted cash flows that utilize the
appropriate market-based forward swap curves and zero-coupon interest rates. Interest
rate swap derivatives are Level 2 measurements and have a fair value of $231,000
in a liability position as of December 31, 2010.</p>
<p style='margin:0in;margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>The fair value of
foreign currency forward contracts is based on a valuation model that discounts
cash flows resulting from the differential between the contract price and the
market-based forward rate and is a Level 2 measurement and has a fair value of
$43,000 in a liability position as of December 31, 2010.</p>
<p style='margin:0in;margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">11. INCOME TAXES</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
jurisdictional components of income before taxes consist of the following:</font></p>
<div align="center">
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:0pt;border-collapse:collapse' width="75%">
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=7 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(in
  thousands)</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2008</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Income
  before income taxes:</p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Domestic</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp; 15,639&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">13,381&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2,176&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp; Foreign
  </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">13,393&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">17,725&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">15,050&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">29,032&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">31,106&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">17,226&nbsp;</font></p></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The components of income tax expense (benefit) consist
of the following:</font></p>
<div align="center">
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:0pt;border-collapse:collapse' width="75%">
		<tr style='page-break-inside:avoid'>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=7 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(in
  thousands)</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2008</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Current:</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Domestic
  			</p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;8,995&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(1,059)</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">891&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp; Foreign
  </font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">3,851&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5,017&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">4,789&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp; State </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,453&nbsp;</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(381)</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">458&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">14,299&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">3,577&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6,138&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Deferred:</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Domestic
  			</p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp; (5,308)</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">8,017&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(242)</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Foreign
  			</p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-3.25pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (284)&nbsp;</font></p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(641)</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">331&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; State
  			</p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(792)</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,520&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp; (6,384)</font></p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">8,896&nbsp;</font></p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">89&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total
  income taxes</p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">7,915&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">12,473&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6,227&nbsp;</font></p></td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The difference between income tax
expense (benefit) for financial statement purposes and the amount of income tax
expense computed by applying the domestic statutory income tax rate of 34% to
income loss before income taxes consist of the following:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<div align="center">
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:0pt;border-collapse:collapse' width="75%">
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=7 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(in
  thousands)</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2008</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Domestic
  statutory rate at 34%</p></td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">9,871&nbsp;</font></p></td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">10,576&nbsp;</font></p></td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5,857&nbsp;</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Increase
  (reduction) from:</p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jurisdictional
  rate differences</p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(986)</font></p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(581)</font></p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(634)</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goodwill
  impairment</p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2,686&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">424&nbsp;</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation
  allowance</p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(793)</font></p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock
  based compensation</p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">135&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">138&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">144&nbsp;</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S.
  state taxes</p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">436&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">745&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">324&nbsp;</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domestic
  Production Deduction</p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(744)&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp; (50)&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; R&amp;E
  Credit Reserve</p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(1,068)&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other,
  net </p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">271&nbsp;</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(248)</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">112&nbsp;</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Provision
  for income taxes</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">7,915&nbsp;</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">12,473</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6,227&nbsp;</font></p></td>
		</tr>
		<tr style='page-break-inside:avoid;height:4.5pt'>
			<td valign=bottom style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Effective
  tax rate</font></p></td>
			<td valign=bottom style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>27%</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>40%</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>36%</p>
			</td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 58 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred
income taxes arise from temporary differences between the financial statement
carrying amounts of existing assets and liabilities and their respective tax
basis. The components of the Company&#146;s deferred income tax assets and
liabilities consist of the following:</font></p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td colspan=5 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">December 31,</font></b></p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(in
  thousands)</font></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;</font></p>
		</td>
	</tr>
	<tr style='height:9.85pt'>
		<td valign=top style='border:medium none;padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Current:</p>
		</td>
		<td valign=top style='border:medium none;padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr style='height:10.9pt'>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred
  tax assets:</p></td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
	</tr>
	<tr style='height:4.5pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventory
  basis differences</p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,219&nbsp;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts
  receivable reserve</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">665&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">283&nbsp;</font></p></td>
	</tr>
	<tr style='height:9.0pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee
  benefit accruals</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">347&nbsp;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">413&nbsp;</font></p></td>
	</tr>
	<tr style='height:9.0pt'>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Product
  liability and warranty reserves</font></p></td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,035&nbsp;</font></p></td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">935&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expenses
  not deductible for tax purposes</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">547&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">433&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign
  net operating loss</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">630&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">424&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3,813&nbsp;</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3,118&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred
  tax liabilities:</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventory
  basis differences</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#151;</font></p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(3,376)</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expenses
  deductible for tax purposes</p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(338)</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(733)</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(338)</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(4,109)</font></p></td>
	</tr>
	<tr style='height:12.15pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Net
  current deferred tax asset</p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; 3,475</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; (991)</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Non-Current:</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred
  tax assets:</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr style='height:11.25pt'>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Environmental
  reserve</p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">568&nbsp;</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in;
  '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">611&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pension
  liability</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2,717&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2,845&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative
  liability</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">88&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">481&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stock
  based compensation</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">325&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">221&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign
  net operating loss</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">613&nbsp;</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Valuation
  allowance</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">4,311&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">4,158&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred
  tax liabilities:</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(5,444)</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(6,949)</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible
  assets</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(277)</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(277)</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred
  revenue</p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(355)</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(355)</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(6,168)</font></p></td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(7,581)</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;
		</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Net non-current tax asset (liability)</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp; (1,857)&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(3,423)&nbsp;</font></p></td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt; margin-left:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt; margin-left:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt; margin-left:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.7pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; As of December 31, 2010, the Company had foreign
deferred tax assets consisting of foreign net operating losses and other tax
benefits available to reduce future taxable income in a foreign jurisdiction. The
net operating loss (&#147;NOL&#148;) has an unlimited carry-forward. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt;text-indent:.25in; margin-left:0in; margin-top:0in'>
<font size="2">In assessing the realizability of
deferred tax assets, the Company considers whether it is more likely than not
that some portion or all of the deferred tax assets will not be realized. Based
on the expectation of future taxable income and that the deductible temporary
differences will offset existing taxable temporary differences, the Company
believes it is more likely than not that it will realize the benefits of these
deductible differences.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.7pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt;text-indent:.25in; margin-left:0in; margin-top:0in'>
<font size="2">Deferred income taxes have not been
provided on the future tax consequences attributable to differences between the
financial statements carrying amounts of existing assets and liabilities and
the respective tax bases of the Company&#146;s foreign subsidiaries, based on the
determination that such differences are essentially permanent in duration in
that the earnings of the subsidiaries are expected to be indefinitely
reinvested in foreign operations. As of December 31, 2010, the cumulative
undistributed earnings of these subsidiaries approximated $102,223,000. If
these earnings were not considered indefinitely reinvested, deferred income
taxes would have been recorded after the consideration of foreign tax credits. At
this time, it is not practicable to estimate the amount of additional income
taxes that might be payable on those earnings, if distributed.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt;text-indent:.25in; margin-left:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt;text-indent:.25in; margin-left:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 59 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:13.5pt;text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:13.5pt;text-indent:.25in; margin-left:0in; margin-top:0in'>
<font size="2">The Company adopted the provisions
of FASB ASC Section 740-10-25 (formerly FASB Interpretation No. 48, &#147;Accounting
for Uncertainty in Income Taxes&#148;) on January 1, 2007. During 2009, the Company
removed their liability for unrecognized tax positions after a reevaluation of
the liabilities under the measurement criteria of ASC 740.  During the third
quarter of 2010, the Company completed a research and development credit study
(R&amp;D study) related to prior year tax returns. The R&amp;D study resulted
in tax credits of approximately $1,100,000. The Company has recorded an
unrecognized tax benefit in the amount of $193,000 that if recognized would affect our
annual effective tax rate.
We do not expect our
unrecognized tax benefits to change significantly over the next 12 months.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:13.5pt;text-indent:.25in'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="75%">
		<tr style='page-break-inside:avoid'>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=5 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in
  thousands)</p></td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b><font size="2">&nbsp;</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b><font size="2">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Balance
  as of beginning of year </p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">465,000&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;
  Additions for tax positions related to prior years </font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">193,000</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;
  Reductions for tax positions related to prior years </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(465,000)</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Balance as
  of end of year</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">193,000</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-5.4pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:13.5pt;text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company adopted the policy to include interest and penalty expense related to
income taxes as interest and other expense, respectively. As of December 31,
2010, no interest or penalties has been or is required to be accrued. The
Company&#146;s open tax years for its federal and state income tax returns are for
the tax years ended 2006 through 2010.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">12. COMMON STOCK</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company was authorized by its Board of Directors
in 1997 to repurchase up to 1,000,000 shares of the Company&#146;s common stock to
be funded through working capital and credit facility borrowings. No shares
were repurchased in 2009 or 2010. The authorization to repurchase up to
1,000,000 shares remains available less 42,600 shares, previously purchased.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subsequent
to December 31, 2010, the Company declared and paid a dividend of $.06 per
share.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">13. STOCK OPTIONS</font></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;margin-bottom:0in;margin-bottom:.0001pt;
text-align:left;page-break-after:auto'><b>&nbsp;</b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;margin-bottom:0in;margin-bottom:.0001pt;
text-align:left;page-break-after:auto'><b>Incentive
Options</b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On April 28, 1994, the stockholders approved the 1994
Incentive Stock Option Plan (&#147;1994 ISO Plan&#148;) for key employees. Each option
becomes vested and exercisable for up to 20% of the total optioned shares each
year after grant. Under the terms of this plan, the exercise price of the
shares subject to each option granted would not be less than the fair market
value of the common stock at the date the option is granted. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There are 58,030 shares outstanding under this option
plan. No further option grants can be made under this plan.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">On May 3,
2005, the stockholders of the Company approved the 2005 Incentive Stock Option
Plan (&#147;2005 ISO Plan&#148;) and the Company reserved 500,000 shares of common stock
for options to be issued under the 2005 ISO Plan . During the years ended
December 31, 2010, 2009 and 2008, options to purchase 19,000 shares, 99,000
shares and 39,000 shares, respectively, were granted under this plan. Each
option becomes vested and exercisable for up to 20% of the total optioned
shares one year following the grant of the option and for an additional 20% of
the total optioned shares after each succeeding year until the option is fully
exercisable at the end of the fifth year.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 60 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Following
is a summary of activity in the Incentive Stock Option Plans for the periods
indicated:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=660
 style='width:100%;margin-left:0pt;border-collapse:collapse'>
		<tr style='height:13.8pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=4 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size="2">2010</font></b></p>
			</td>
			<td colspan=3 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size="2">2009</font></b></p>
			</td>
			<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size="2">2008</font></b></p>
			</td>
		</tr>
		<tr style='height:13.8pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp; Shares</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Price*</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Price*</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Price*</font></p>
			</td>
		</tr>
		<tr style='height:13.8pt'>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Options
  outstanding at beginning of year</p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">345,480&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;18.73&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">253,980&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;20.44&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">277,080&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;18.26&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granted
  </font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">19,000&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">24.69&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">99,000&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">11.45&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">39,000&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">22.55&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercised
  </font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(4,350)</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">12.98&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(49,100)</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">9.76&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cancelled
  </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(7,500)</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">20.04&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(13,000)</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">20.71&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Options
  outstanding at end of year </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">360,130&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">18.29&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">345,480&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">18.73&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">253,980&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">20.44&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Options
  exercisable at end of year </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">209,530&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;18.86&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">156,780&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;18.74&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">118,180&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;17.55&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Options
  available for grant at end of year</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">195,500&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">214,500&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">307,000&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">*Weighted
Averages</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options
outstanding and exercisable at December 31, 2010 were as follows:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=622
 style='width:100%;margin-left:0pt;border-collapse:collapse'>
		<tr style='height:13.8pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>Qualified
  Stock Options</b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=5 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Options Outstanding</font></b></p></td>
			<td valign=top style='padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Options Exercisable</font></b></p></td>
		</tr>
		<tr style='height:13.8pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Shares</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Remaining</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Contractual</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Life (yrs)*</font></p></td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Price*</font></p>
			</td>
			<td valign=bottom style='padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:3.3pt;text-align:center; margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p>
			</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp; Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; Price*</font></p></td>
		</tr>
		<tr style='height:11.65pt'>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Range
  of Exercise Price</p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$11.45 -
  $17.85 </font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">153,130&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6.80</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;12.24&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">75,130&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;13.06&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$19.79 -
  $25.18</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">207,000&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6.75</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">22.77&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">134,400&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">22.10&nbsp;</font></p></td>
		</tr>
		<tr style='height:11.3pt'>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total
  </font></p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">360,130&nbsp;</font></p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">209,530&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">*Weighted
Averages</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The weighted-average grant-date fair
values of options granted during 2010, 2009, and 2008 were $11.40, $5.08 and
$10.72, respectively. As of December 31, 2010, there was $859,000 of total
unrecognized compensation cost related to non-vested share-based compensation
arrangements granted under the plans. That cost is expected to be recognized
over a period of five years.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Non-qualified
Options </font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">&nbsp;</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
May 7, 2009, the stockholders of the Company approved the 2009 Equity Incentive
Plan and the Company reserved 400,000 shares of common stock for this plan. Options
become vested and exercisable for up to 20% of the total optioned shares one
year following the grant of the option and for an additional 20% of the total
optioned shares after each succeeding year until the option is fully
exercisable at the end of the fifth year. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Following
is a summary of activity in the Non-Qualified Stock Option Plans for the
periods indicated:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=654
 style='width:100%;margin-left:0pt;border-collapse:collapse'>
		<tr style='height:13.8pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=4 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size="2">2010</font></b></p>
			</td>
			<td colspan=3 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size="2">2009</font></b></p>
			</td>
			<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><b><font size="2">2008</font></b></p>
			</td>
		</tr>
		<tr style='height:13.8pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp; Price*</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp; Price*</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; Price*</font></p></td>
		</tr>
		<tr style='height:13.8pt'>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Options
  outstanding at beginning of year</p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">186,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;14.57&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">226,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;12.62&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">302,000&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;11.71&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granted
  </font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">85,000&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">11.45&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercised
  </font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(78,600)</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">12.52&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(125,000)</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">8.94&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(76,000)</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">8.98&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cancelled
  </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(5,000)&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">25.18&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Options
  outstanding at end of year </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">102,400&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">15.62&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">186,000&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">14.57&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">226,000&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">12.62&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Options
  exercisable at end of year </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">30,300&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;20.79&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">79,000&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;15.17&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">194,500&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;10.76&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Options
  available for grant at end of year</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">364,000&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">367,000&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">63,500&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">*Weighted
Averages</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 61 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options outstanding and exercisable as of December 31,
2010 were as follows:</font></p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=622
 style='width:100%;margin-left:0pt;border-collapse:collapse'>
		<tr style='height:13.8pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>Non-Qualified
  Stock Options</b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=5 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Options Outstanding</font></b></p></td>
			<td valign=top style='padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Options Exercisable</font></b></p></td>
		</tr>
		<tr style='height:13.8pt'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Remaining</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Contractual</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Life(yrs)*</font></p></td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Price*</font></p>
			</td>
			<td valign=bottom style='padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:3.3pt;text-align:center; margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p>
			</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; Exercise</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; Price*</font></p></td>
		</tr>
		<tr style='height:13.8pt'>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Range
  of Exercise Price</p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$11.45 -
  $12.10 </font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">68,900&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">9.00</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$11.45&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">7,300&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$11.45&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$13.96 -
  $19.79</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6,000&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5.00</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">19.79&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6,000&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">19.79&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$25.02 -
  $25.18 </font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">27,500&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6.91</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$25.17&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">17,000&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$25.16&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total
  </font></p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">102,400&nbsp;</font></p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">30,300&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">*Weighted Averages</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The weighted-average grant-date fair
values of options granted during 2009 were $5.08. There were no options granted
in 2010. As of December 31, 2010, there was $326,000 of total unrecognized
compensation cost related to non-vested share-based compensation arrangements
granted under the plans. That cost is expected to be recognized over a period
of five years.</font></p>
<p style='margin-bottom:.0001pt;text-indent:.25in;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>During 2010, 2009
and 2008, 78,600, 125,000, and 76,000 non-qualified options, respectively, were
exercised, $984,000, $1,117,000, and $682,000 of cash receipts were received, respectively,
and tax deductions of $796,000, $289,000, and $951,000 were realized,
respectively, for the tax deductions from option exercises. </p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Restricted
Stock Units</font></i></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Following is a summary of activity in the Restricted Stock
Units for the periods indicated:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0 width=565
 style='width:100%;border-collapse:collapse'>
	<tr style='height:13.8pt'>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Shares</font></p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Price</font></p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Weighted-average <br>remaining</font></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">contractual term <br>(in years)</font></p></td>
	</tr>
	<tr style='height:13.8pt'>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Options
  outstanding at beginning of year</p></td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">8,000&nbsp;</font></p></td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">11.45&nbsp;</font></p></td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Granted
  </font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3,000&nbsp;</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">24.69&nbsp;</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">3.33</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vested
  </font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(2,000)</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">11.45&nbsp;</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forfeited
  or Cancelled </font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Options
  outstanding at end of year </font></p></td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">9,000&nbsp;</font></p></td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">15.86&nbsp;</font></p></td>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Restricted stock units vest 25% after one year following the
award date and for an additional 25% of total awarded shares each succeeding
year until fully vested. As of December 31, 2010, there was $198,000 of total
unrecognized compensation cost related to non-vested share-based compensation
arrangements granted under the plans. That cost is expected to be recognized
over a period of four years.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">14. RETIREMENT BENEFIT PLANS</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Defined Benefit Plans</font></i></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In connection with the February 3, 2006 purchase of all the
net assets of the <i>Gradall</i> excavator business, the Company assumed
sponsorship of two <i>Gradall</i> non-contributory defined benefit pension
plans, both of which are frozen with respect to both future benefit accruals
and future new entrants. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The <i>Gradall</i> Company Hourly Employees&#146; Pension Plan
covers approximately 310 former employees and 210 current employees who (i)
were formerly employed by JLG Industries, Inc., (ii) were covered by a
collective bargaining agreement and (iii) first participated in the plan before
April 6, 1997. An amendment ceasing all future benefit accruals was effective
April 6, 1997.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 62 -</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The <i>Gradall</i> Company Employees&#146; Retirement Plan covers
approximately 220 former employees and 120 current employees who (i) were
formerly employed by JLG Industries, Inc., (ii) were not covered by a
collective bargaining agreement and (iii) first participated in the plan before
December 31, 2004. An amendment ceasing future benefit accruals for certain participants
was effective December 31, 2004. A second amendment discontinued all future
benefit accruals for all participants effective April 24, 2006.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The following tables set forth the change in plan assets,
change in projected benefit obligation, rate assumptions and components of net
periodic benefit cost as of December 31 with respect to these plans. The
measurement dates of the assets and liabilities of both plans were December 31
of the respective years presented.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=658
 style='width:100%;border-collapse:collapse'>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=6 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Year ended December 31, 2010</font></b></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1px solid #000000; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="center">
			<p align="left"><font size="2" face="Arial">(in thousands)&nbsp;&nbsp;&nbsp;
  			</font></td>
			<td colspan=2 valign=bottom style='border-bottom:1px solid #000000; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="center">
			<b><font size="2" face="Arial">Hourly&nbsp;&nbsp; <br>Employees&#146;
			<br>Pension Plan</font></b></td>
			<td colspan=2 valign=bottom style='border-bottom:1px solid #000000; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="center">
			<b><font size="2" face="Arial">Employees&#146; <br>Retirement <br>Plan</font></b></td>
			<td colspan=2 valign=bottom style='border-bottom:1px solid #000000; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="center">
			<b><font size="2" face="Arial">Total</font></b></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
		</tr>
		<tr style='height:7.65pt'>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Change in
  projected benefit obligation&nbsp; </font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Benefit obligation at beginning of
  year</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,067&nbsp;</font></p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,056&nbsp;</font></p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,123&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Service cost</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">6&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">3&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">9&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Interest cost</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">498&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">864&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1,362&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Liability actuarial (gain)/loss</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">578&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1,119&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1,697&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Benefits paid</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(638)</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(615)</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(1,253)</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Benefit obligation at end of year</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">9,511&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">16,427&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">25,938&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Change in fair value of plan assets&nbsp;&nbsp;
			</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:justify; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:justify; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:justify; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Fair value of plan assets at beginning of year</font></p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">5,560&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">10,922&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">16,482&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Return on plan assets</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">678&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1,319&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1,997&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Employer contributions</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">702&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">859&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1,561&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Benefits paid</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(638)</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(615)</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(1,253)</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Fair value of plan assets at end of year</font></p>
			</td>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">6,302&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">12,485&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">18,787&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Underfunded status &#150; December 31, 2010</font></p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp; (3,209)</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3,942)</font></p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7,151)</font></p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Accumulated
  benefit obligation &#150; December 31, 2010</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,511&nbsp;</font></p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16,427&nbsp;</font></p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,938&nbsp;</font></p>
			</td>
		</tr>
		<tr height=0>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=658
 style='width:100%;border-collapse:collapse'>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=6 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Year ended December 31, 2009</font></b></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1px solid #000000; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<font size="2" face="Arial">(in thousands)
  </font></td>
			<td colspan=2 valign=bottom style='border-bottom:1px solid #000000; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="center">
			<b><font size="2" face="Arial">Hourly&nbsp;&nbsp; <br>Employees&#146;
			<br>Pension Plan</font></b></td>
			<td colspan=2 valign=bottom style='border-bottom:1px solid #000000; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="center">
			<b><font size="2" face="Arial">Employees&#146; <br>Retirement <br>Plan</font></b></td>
			<td colspan=2 valign=bottom style='border-bottom:1px solid #000000; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="center">
			<b><font size="2" face="Arial">Total</font></b></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
		</tr>
		<tr style='height:7.65pt'>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Change in
  projected benefit obligation&nbsp; </font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Benefit obligation at beginning of
  year</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,848&nbsp;</font></p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14,254&nbsp;</font></p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,102&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Service cost</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">8&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">4&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">12&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Interest cost</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">518&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">863&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1,381&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Liability actuarial (gain)/loss</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">309&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">497&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">806&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Benefits paid</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(616)</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(562)</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(1,178)</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt;text-align:justify; margin-right:0in; margin-top:0in'>
			<font size="2">Benefit obligation at end of year</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">9,067&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">15,056&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">24,123&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Change in fair value of plan assets&nbsp;&nbsp;
			</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:justify; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:justify; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:justify; margin-left:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Fair value of plan assets at beginning of year</font></p>
			</td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">4,961&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">9,460&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">14,421&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Return on plan assets</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">967&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1,939&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">2,906&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Employer contributions</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">249&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">85&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">334&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Benefits paid</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(616)</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(562)</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">(1,178)</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.0pt; margin-right:0in; margin-top:0in'>
			<font size="2">Fair value of plan assets at end of year</font></p>
			</td>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">5,561&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">10,922&nbsp;</font></p></td>
			<td colspan=2 valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">16,483&nbsp;</font></p></td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:2.6pt;text-align:justify'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Underfunded status &#150; December 31, 2009</font></p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp; (3,506)</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4,134)</font></p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7,640)</font></p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=bottom style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Accumulated
  benefit obligation &#150; December 31, 2009</font></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,067&nbsp;</font></p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,056&nbsp;</font></p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.5pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:2.6pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,123&nbsp;</font></p>
			</td>
		</tr>
		<tr height=0>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
			<td style='border:none' valign="bottom"></td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 63 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.7pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company recognizes the overfunded or underfunded
status (i.e., the difference between the fair value of plan assets and the
projected benefit obligations) of defined benefit postretirement plans as an
asset or liability in its statement of financial position and recognized
changes in the funded status in the year in which the changes occur. The
Company measures the funded status of a plan as of the date of its year-end
statement of financial position. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
underfunded status of the plan of $7,151,000 and $7,640,000 as of December 31,
2010 and 2009, respectively, is recognized in the accompanying consolidated
balance sheets as long-term accrued pension liability because plan assets are
less than the value of benefit obligations expected to be paid. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
accumulated benefit obligation for our pension plans represents the actuarial
present value of benefits based on employee service and compensation as of a
certain date and does not include an assumption about future compensation
levels. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
determining the projected benefit obligation and the net pension cost, we used
the following significant weighted-average assumptions:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Assumptions
used to determine benefit obligations at December 31:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=561
 style='width:75%;border-collapse:collapse'>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Hourly Employees&#146; <br>Pension Plan</font></b></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Employees&#146; <br>Retirement Plan</font></b></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Discount rate</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5.12%</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5.67%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5.30%</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5.83%</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Composite rate of compensation increase</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">N/A</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">N/A</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">N/A</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">N/A</font></p></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Assumptions used to determine net periodic benefit cost for
the years ended December 31:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=559
 style='width:75%;border-collapse:collapse'>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Hourly Employees&#146; <br>Pension Plan</font></b></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Employees&#146; <br>Retirement Plan</font></b></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Discount
  rate</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5.67%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6.15%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5.83%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6.14%</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Long-term
  rate of return on plan assets</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">7.75%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">7.75%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">7.75%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">7.75%</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Composite
  rate of compensation increase</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">N/A</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">N/A</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">N/A</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">N/A</font></p></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company employs a building block approach in determining the expected long-term
rate on return on plan assets. Historical markets are studied and long-term
historical relationships between equities and fixed income are preserved
consistent with the widely accepted capital market principle that assets with
higher volatility generate a greater return over the long run. Current market
factors such as inflation and interest rates are evaluated before long-term
market assumptions are determined. The long-term portfolio return is
established via a building block approach with proper consideration of
diversification and rebalancing. Peer data and historical returns are reviewed
to check for reasonability and appropriateness.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 64 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.7pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following tables present the components of net
periodic benefit cost (gains are denoted with parentheses and losses are not):</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0 width=643
 style='width:100%;border-collapse:collapse'>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Year ended December 31, 2010</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(in thousands)</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Hourly Employees&#146; <br>Pension Plan</font></b></p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Employees&#146; <br>Retirement Plan</font></b></p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Total</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Service
  cost</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Interest
  cost</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 864</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,363</font></p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Expected
  return on plan assets</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (431)</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (850)</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; (1,281)</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Amortization
  of prior service cost</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#151;&nbsp;</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center;
  line-height:94%; margin-left:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#151;&nbsp;</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#151;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Amortization
  of net (gain)/loss</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center;
  line-height:94%; margin-left:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 129</font></p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net periodic benefit cost</font></p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.5pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;170&nbsp;</font></p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.5pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50</font></p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.5pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;220</font></p></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<table class=MsoNormalTable border=0 cellpadding=0 width=643
 style='width:100%;border-collapse:collapse'>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Year ended December 31, 2009</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">(in thousands)</font></p></td>
		<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Hourly Employees&#146; <br>Pension Plan</font></b></p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Employees&#146; <br>Retirement Plan</font></b></p>
		</td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Total</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Service
  cost</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Interest
  cost</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 863</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,381</font></p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Expected
  return on plan assets</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (372)</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (715)</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp; (1,087)</font></p></td>
	</tr>
	<tr style='height:12.6pt'>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Amortization
  of prior service cost</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#151;</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center;
  line-height:94%; margin-left:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#151;&nbsp;</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &#151;&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Amortization
  of net (gain)/loss</font></p></td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130&nbsp;</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center;
  line-height:94%; margin-left:0in; margin-top:0in'><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117</font></p>
		</td>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;247</font></p>
		</td>
	</tr>
	<tr>
		<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net periodic benefit cost</font></p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.5pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:23.9pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;284</font></p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.5pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:21.7pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 269</font></p></td>
		<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.5pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:28.5pt;text-align:center; margin-left:0in; margin-top:0in'>
		<font size="2">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553</font></p></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company estimates that $194,000 of unrecognized actuarial expense will be
amortized from accumulated other comprehensive income into net periodic benefit
costs during 2011. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company
employs a total return investment approach whereby a mix of equities and fixed
income investments are used to maximize the long-term return of plan assets for
a prudent level of risk. Risk tolerance is established through careful
consideration of plan liabilities, plan funded status, and corporate financial
condition. The investment portfolio contains a diversified blend of equity and
fixed income investments. Furthermore, equity investments are diversified
across U.S. and non-U.S. stocks, as well as growth, value, and small and large
capitalizations. Other assets such as real estate, private equity, and hedge
funds are used judiciously to enhance long-term returns while improving
portfolio diversification. Derivatives may be used to gain market exposure in
an efficient and timely manner; however, derivatives may not be used to
leverage the portfolio beyond the market value of the underlying investments.
Investment risk is measured and monitored on an ongoing basis through quarterly
investment portfolio reviews, annual liability measurements, and periodic
asset/liability studies.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
pension plans' weighted-average asset allocations as a percentage of plan
assets at December 31 are as follows:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=515
 style='width:75%;border-collapse:collapse'>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Hourly Employees&#146; </font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Pension Plan</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td colspan=2 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Employees&#146; Retirement </font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Plan</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Equity securities</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">47%</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">60%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:12.8pt;text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">47%</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">57%</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Debt securities</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">45%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">37%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:12.8pt;text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">45%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">42%</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Short-term investments</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">3%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">2%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:12.8pt;text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">3%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">0%</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Other</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">5%</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:12.8pt;text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">5%</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">1%</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Total</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">100%</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">100%</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:12.8pt;text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">100%</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;text-align:right; margin-left:0in; margin-top:0in'>
			<font size="2">100%</font></p></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">As of December 31, 2010, we used the following valuation
techniques to measure fair value for assets. There were no changes to these
methodologies during 2010: Level 1 - Assets were valued using the closing price
reported in the active market in which the individual security was traded.
Level 2 - Assets were valued using quoted prices in markets that are not
active, broker dealer quotations, net asset value of shares held by the plans,
and other methods by which all significant input were observable at the
measurement date. Level 3 - Assets were valued using valuation reports from the
respective institutions at the measurement date. The following table presents
the hierarchy levels for our postretirement benefit plan investments as of
December 31, 2010:</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 65 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-indent:.25in'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=704
 style='width:90%;margin-left:0pt;border-collapse:collapse'>
		<tr style='height:14.8pt'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(in thousands)</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;' nowrap>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31, 2010</font></b></p></td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;' nowrap>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;' nowrap align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;' nowrap>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Quoted <br>Prices in Active <br>Markets for
  <br>Identical Assets</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">(Level 1)</font></b></p></td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;' nowrap>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;' nowrap align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;' nowrap>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Significant <br>Other <br>Observable <br>Inputs</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">(Level 2)</font></b></p></td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;' nowrap>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			&nbsp;</p></td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;' nowrap>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Significant <br>Unobservable <br>Inputs</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">(Level 3)</font></b></p></td>
		</tr>
		<tr style='height:14.8pt'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:medium none windowtext; padding:0in'>
			<font face="Arial" size="2">Mutual
  Funds:</font></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:medium none windowtext; padding:0in'>
			&nbsp;</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:medium none windowtext;border-right:medium none;
  padding:0in'>
			&nbsp;</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:medium none windowtext;border-right:medium none;
  padding:0in'>
			&nbsp;</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:medium none windowtext;border-right:medium none;
  padding:0in' align="right">
			&nbsp;</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:medium none windowtext;border-right:medium none;
  padding:0in'>
			&nbsp;</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:medium none windowtext;border-right:medium none;
  padding:0in'>
			&nbsp;</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:medium none windowtext;border-right:medium none;
  padding:0in' align="right">
			&nbsp;</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:medium none windowtext;border-right:medium none;
  padding:0in'>
			&nbsp;</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:medium none windowtext;border-right:medium none;
  padding:0in'>
			&nbsp;</td>
			<td valign=bottom style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:medium none windowtext;border-right:medium none;
  padding:0in'>
			&nbsp;</td>
		</tr>
		<tr style='height:14.8pt'>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>Small Cap</p>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>Mid Cap</p>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>Large Cap</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,418</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,737</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6,567</font></p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF" align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,418</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,737</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6,567</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF" align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">-&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="right">
			<font size="2">$</font></p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">-&nbsp;</font></p></td>
		</tr>
		<tr style='height:16.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-7.9pt; margin-left:0in; margin-top:0in'>
			<font size="2">Common/Collective:</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>
			<font size="2">Liability Driven Solution</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>
			<font size="2">Wells Fargo International Equity Index Fund</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>
			<font size="2">Wells Fargo Large Cap Growth Index Fund</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>
			<font size="2">Wells Fargo Large Cap Value Index Fund</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>
			<font size="2">Wells Fargo Russell 2000 Index Fund</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>
			<font size="2">Wells Fargo S&amp;P Mid Cap Index Fund</font></p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">4,266</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">703</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,273</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,223</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">466</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">483</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' align="right">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' align="right">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">-&nbsp;</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">4,266</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; 703</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,273</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,223</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; 466</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp; 483</font></p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">-&nbsp;</font></p></td>
		</tr>
		<tr style='height:15.35pt'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Cash &amp;
  Short-term</font></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:12.25pt; margin-right:0in; margin-top:0in'>
			<font size="2">Investments </font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">652</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF" align="right">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">652</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF" align="right">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">-&nbsp;</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">-&nbsp;</font></p></td>
		</tr>
		<tr style='height:17.85pt'>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Total </font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">18,788</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">10,374</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">8,414</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="right">
			<font size="2">$</font></p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">-&nbsp;</font></p></td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:9.0pt;text-indent:24.5pt; margin-left:0in; margin-right:0in'>
<font size="2">Our interests in the common
collective trust investments are managed by one custodian. Consistent with our
investment strategy, the custodian has invested the assets across a widely
diversified portfolio of U.S. and international equity and fixed income
securities. Fair values of each security within the collective trust as of
December&nbsp;31, 2010 were obtained from the custodian and are based on quoted
market prices of individual investments; however, since the fund itself does
not have immediate liquidity or a quoted market price, these assets are
considered Level 2. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expected
benefit payments are estimated using the same assumptions used in determining
our benefit obligation as of December 31, 2010. The following table illustrates
the estimated pension benefit payments which reflect expected future service,
as appropriate, that are projected to be paid:</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=529
 style='width:90%;border-collapse:collapse'>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(in thousands)</font></p></td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Hourly Employees&#146; <br>Pension Plan</font></b></p>
			</td>
			<td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Employees&#146; <br>Retirement Plan</font></b></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Total</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2011</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right" bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right" bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right" bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,395</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2012</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 663</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,411</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2013</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right" bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 658</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right" bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 784</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right" bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,442</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2014</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 658</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 861</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,519</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2015</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right" bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right" bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 887</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right" bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,537</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Years 2016
  through 2020</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt;margin-left:0in; margin-top:0in'>
			<font size="2">$&nbsp;&nbsp;3,273</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt; margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp; 5,299</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' align="right">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:12.8pt; margin-left:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp; 8,572</font></p>
			</td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;</font></i></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Defined Contribution Plans</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">&nbsp;</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company has three defined contribution plans, The <i>Gradall</i> Salaried
Employees&#146; Savings and Investment Plan (&#147;Salary Plan&#148;), The <i>Gradall</i>
Hourly Employees&#146; Savings and Investment Plan (&#147;Hourly Plan&#148;) and The
International Association of Machinist and Aerospace Retirement Plan (&#147;IAM
Plan&#148;). The Company contributed $269,000 and $254,000 to the IAM Plan for the
plan years ended December 31, 2010 and 2009, respectively. The Company
converted the Salary Plan into its 401(k) retirement and savings plan and put
the Hourly Plan into a separate 401(k) retirement and savings plan.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company provides a defined contribution 401(k) retirement and savings plan for
eligible U.S. employees. Company matching contributions are based on a
percentage of employee contributions. Company contributions to the plan during
2010, 2009 and 2008 were $481,000, $1,330,000, and $1,520,000, respectively. A
U.S. subsidiary of the Company had an Hourly Employee Pension Plan of Trust
covering collective bargaining which was terminated on December 31, 2006. As of
January 1, 2006 the employees were added to the existing 401(k) retirement and
salary plan.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">&nbsp;- 66 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Three
of the Company&#146;s international subsidiaries also participate in a defined
contribution and savings plan covering eligible employees. The Company&#146;s
international subsidiaries contribute between 3% and 7.5% of the participant&#146;s
salary up to a specific limit. Total contributions made to the above plan were
$607,000, $537,000, and $620,000 for the year ended December 31, 2010, 2009 and
2008, respectively.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p align="center"><b><font size="2" face="Arial">15.&nbsp; SEGMENT REPORTING</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.25in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company reports three business segments: Industrial, Agricultural and European.
The Company&#146;s sales are principally within the United States, United Kingdom,
France, Canada and Australia. The Company sells its products primarily through
a network of independent dealers and distributors, governmental end-users,
related independent contractors, as well as to the agricultural and commercial
turf markets. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company has included a summary of the financial information by reporting
segment. The following table presents the revenues, income from operations
(loss), goodwill and total identifiable assets by reporting segment for the
years ended December 31, 2010, 2009 and 2008:</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.25in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<div align="center">
	<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:0pt;border-collapse:collapse' width="80%">
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=5 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr style='height:12.1pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(in
  thousands)</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2008</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr style='height:12.1pt'>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Net
  Revenue</font></b></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:9.9pt'>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">192,379&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">173,905&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">254,787&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agricultural</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">173,464&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">92,415&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">120,232&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; European</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">158,697&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">180,167&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">182,116&nbsp;</font></p></td>
		</tr>
		<tr style='height:5.4pt'>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Consolidated</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">524,540&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">446,487&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">557,135&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Income
  from Operations</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:9.9pt'>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">8,513&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(12,426)</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">9,716&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agricultural</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">10,073&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">31,206&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(3,400)</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; European</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">12,287&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">15,754&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">15,029&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Consolidated</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">30,873&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">34,534&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">21,345&nbsp;</font></p></td>
		</tr>
		<tr style='height:4.5pt'>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:4.5pt'>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Goodwill</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr style='height:4.5pt'>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">13,316&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">13,128&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">26,755&nbsp;</font></p></td>
		</tr>
		<tr style='height:4.5pt'>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agricultural</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
		</tr>
		<tr style='height:4.5pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; European</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">20,757&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">22,079&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">21,352&nbsp;</font></p></td>
		</tr>
		<tr style='height:4.5pt'>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Consolidated</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">34,073&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">35,207&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">48,107&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Total
  Identifiable Assets</font></b></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">120,293&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">126,553&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">179,000&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Agricultural</font></p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">116,575&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">124,165&nbsp;</font></p></td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Footlight MT Light";'>&nbsp;</p>
			</td>
			<td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">78,793&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Footlight MT Light"; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2" face="Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; European</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">134,115&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">129,239&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">128,339&nbsp;</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Consolidated</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">370,983&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">379,957&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">386,132&nbsp;</font></p></td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 67 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">16. INTERNATIONAL OPERATIONS AND
GEOGRAPHIC INFORMATION</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Following is selected financial information on the Company&#146;s
international operations which include Europe, Canada and Australia:</font></p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="90%">
		<tr style='page-break-inside:avoid;height:1.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td colspan=9 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
			<td style='border:none;border-bottom:solid windowtext 1.0pt'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></td>
		</tr>
		<tr style='height:1.0pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in
  thousands)</p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>2010</b>&nbsp;&nbsp;</p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>2009</b>&nbsp;&nbsp;</p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in;'>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>2008</b>&nbsp;&nbsp;</p></td>
		</tr>
		<tr style='height:1.0pt'>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Net sales</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">190,336</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='border:medium none;padding:
  0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">209,721</font></p></td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td colspan=2 valign=top style='border:medium none;padding:
  0in;'>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">215,733</font></p></td>
		</tr>
		<tr style='height:1.0pt'>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Income
  from operations </font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">13,476</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">17,776</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">13,898</font></p></td>
		</tr>
		<tr style='height:1.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Income
  before income taxes and allocated interest expense </font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">13,429</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;</font></p></td>
			<td colspan=2 valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">17,740</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">15,077</font></p></td>
		</tr>
		<tr style='height:1.0pt'>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Identifiable
  assets </font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">160,966</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">153,968</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">148,706</font></p></td>
		</tr>
		<tr height=0>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
			<td style='border:none'></td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:10.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Following is other selected geographic financial information
on the Company&#146;s operations:</font></p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="80%">
		<tr style='page-break-inside:avoid;height:11.25pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-indent:.7pt'>&nbsp;</p>
			</td>
			<td colspan=8 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in
  thousands)</p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>2010</b>&nbsp;&nbsp;</p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>2009</b>&nbsp;&nbsp;</p></td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>2008</b>&nbsp;&nbsp;</p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>Geographic
  net sales:</b></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United
  States</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">322,253</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">231,981</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">331,671</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United
  Kingdom</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">36,685</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">38,332</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">44,306</font></p></td>
		</tr>
		<tr style='height:9.0pt'>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France</font></p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">93,130</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">115,395</font></p></td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">99,685</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canada</font></p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">15,325</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">17,756</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">22,255</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Australia</font></p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">11,765</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">11,400</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">11,175</font></p></td>
		</tr>
		<tr style='height:5.0pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico</font></p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,337</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2,187</font></p></td>
		</tr>
		<tr style='height:5.0pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">45,382</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">30,286</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">45,856</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Total net
  sales</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">524,540</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">446,487</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">557,135</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; ' height="38">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b>Geographic
  location of long-lived assets:</b></p></td>
			<td valign=top style='border:medium none;padding:0in; ' height="38">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' height="38">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' height="38">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' height="38">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' height="38">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' height="38">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' height="38">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' height="38">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United
  States</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">55,448</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">59,094</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">63,449</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United
  Kingdom</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">13,757</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">14,483</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">13,335</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France</font></p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">29,165</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">33,588</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">34,383</font></p></td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Canada</font></p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6,776</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">6,542</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">5,824</font></p></td>
		</tr>
		<tr style='height:11.25pt'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Australia</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">84</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">265</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">45</font></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Total
  long-lived assets</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">105,230</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">113,972</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">117,036</font></p></td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net
sales are attributed to countries based on the location of customers.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p align="center"><b><font size="2" face="Arial">17.&nbsp; COMPREHENSIVE INCOME (LOSS)</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.25in;text-align:center; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For 2010, 2009 and 2008 the Company&#146;s Comprehensive
Income was $17,503,000, $27,785,000, and ($14,110,000), respectively.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The components of Accumulated Other Comprehensive Income
(Loss) are as follows:</font></p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="85%">
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:20.75pt'>&nbsp;</p>
			</td>
			<td colspan=6 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">December 31,</font></b></p></td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:20.75pt; margin-left:0in; margin-top:0in'>
			<font size="2">(in thousands)</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2009</font></b><font size="2">&nbsp;</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2008</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:20.75pt; margin-left:0in; margin-top:0in'>
			<font size="2">Foreign currency translation adjustments</font></p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; 4,489&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp; 8,148&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp; 1,553&nbsp;</p>
			</td>
		</tr>
		<tr style='height:10.35pt'>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:20.75pt; margin-left:0in; margin-top:0in'>
			<font size="2">Derivatives net of taxes</font></p></td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(171)</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(744)</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in;
  '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(1,560)</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:20.75pt; margin-left:0in; margin-top:0in'>
			<font size="2">Actuarial (loss) gain on defined benefit pension plan, net of taxes</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2,785)</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(2,257)</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(3,998)</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:20.75pt; margin-left:0in; margin-top:0in'>
			<font size="2">Accumulated other comprehensive income (loss)</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>1,533&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>5,147&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(4,005)</p>
			</td>
		</tr>
	</table></div>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 68 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">18. COMMITMENTS AND CONTINGENCIES</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">Leases</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<b><i><font size="2">&nbsp;</font></i></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><font size="2">The Company leases office space and equipment under various operating
leases, which generally are expected to be renewed or replaced by other leases.
The Company has certain capitalized leases consisting principally of leases of
buildings. As of December&nbsp;31,&nbsp;2010, future minimum lease payments
under these non-cancelable leases and the present value of the net minimum
lease payments for the capitalized leases are:</font></p>
<table class=MsoNormalTable border=0 cellpadding=0
 style='margin-left:23.4pt;border-collapse:collapse' width="75%">
	<tr style='page-break-inside:avoid'>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp; </font></p>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>(in
  thousands)</p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Operating <br>Leases</font></b></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Capitalized <br>Leases</font></b></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2011</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,102</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,187</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2012</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">673</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">300</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2013</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">361</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">298</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2014</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">158</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">113</font></p></td>
	</tr>
	<tr>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2015</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">96</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">9</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Thereafter
  </font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">31</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&#151;&nbsp;</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Total
  minimum lease payments </font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">2,421</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,907</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Less
  amount representing interest </font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">144</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Present
  value of net minimum lease payments </font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,763</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Less
  current portion </font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">1,102</font></p></td>
	</tr>
	<tr>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Long-term
  portion</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:2.25pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:2.25pt solid windowtext;border-right:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">661</font></p></td>
	</tr>
</table>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rental expense for operating leases was $1,632,000 for
2010, $1,693,000 for 2009, and $1,787,000 for 2008.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchase obligations of $69,148,000 represent an
estimate of goods and services to be purchased under outstanding purchase
orders not reflected on the Company&#146;s balance sheet. New purchase obligations
should be received and paid for during the current fiscal year.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;page-break-after:avoid;font-size:10.0pt;font-family:"Arial";font-style:italic;text-align:left'>
<b>Other</b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<i><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></i><font size="2">The Company is subject to various unresolved legal actions that arise in
the ordinary course of its business. The most significant of such actions
relates to product liability, which is generally covered by insurance after
various self-insured retention (&#147;SIR&#148;) amounts. While amounts claimed might be
substantial and the liability with respect to such litigation cannot be
determined at this time, the Company believes that the outcome of these matters
will not have a material adverse effect on the Company&#146;s consolidated financial
position or results of operations; however, the ultimate resolution cannot be
determined at this time.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company is subject to numerous environmental laws and regulations concerning
air emissions, discharges into waterways, and the generation, handling,
storage, transportation, treatment and disposal of waste materials. The
Company&#146;s policy is to comply with all applicable environmental, health and
safety laws and regulations, and the Company believes it is currently in
material compliance with all such applicable laws and regulations. These laws
and regulations are constantly changing, and it is impossible to predict with
accuracy the effect that changes to such laws and regulations may have on the
Company in the future. Like other industrial concerns, the Company&#146;s
manufacturing operations entail the risk of noncompliance, and there can be no
assurance that the Company will not incur material costs or other liabilities
as a result thereof. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company knows that its Indianola, Iowa property is contaminated with chromium
which most likely resulted from chrome plating operations which were
discontinued before the Company purchased the property. Chlorinated volatile
organic compounds have also been detected in water samples on the property,
though the source is unknown at this time. The Company voluntarily worked with
an environmental consultant and the state of Iowa with respect to these issues
and believes it completed its remediation program in June 2006. The work was
accomplished within the Company&#146;s environmental liability reserve balance. We
requested a &#147;no further action&#148; classification from the state. We received a
conditional &#147;no further action&#148; letter in January of 2009. When we demonstrate
stable or improving conditions below residential standards by future monitoring
of existing wells, an unconditional &#147;no further action&#148; letter will be
requested.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">&nbsp;- 69 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
December 31, 2010, the Company had an environmental reserve in the amount of
$1,495,000 related to the acquisition of <i>Gradall&#146;s</i> facility in New
Philadelphia, Ohio. Three specific remediation projects that were identified
prior to the acquisition are in process of remediation with a remaining reserve
balance of $30,000. The Company has a reserve of $277,000 concerning a potential
asbestos issue that is expected to be abated over time. The balance of the
reserve, $1,188,000, is mainly for potential ground water
contamination/remediation that was identified before the acquisition and
believed to have been generated by a third party company located near the <i>Gradall</i>
facility.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
company knows that <i>Bush Hog</i>&#146;s main manufacturing property in Selma,
Alabama was contaminated with chlorinated volatile organic compounds which most
likely resulted from painting and cleaning operations during the 1960s and
&#146;70s. The contaminated areas were primarily in the location of underground
storage tanks and underneath the former waste storage area. Under the Asset
Purchase Agreement, <i>Bush Hog</i>&#146;s prior owner agreed to and has removed the
underground storage tanks at its cost and has remedied the identified
contamination in accordance with the regulations of the Alabama Department of
Environmental Management.&nbsp;An environmental consulting firm was retained by
the prior owner and is administering the cleanup and will monitor the sites on
an ongoing basis until the remediation program is complete and approved by the
applicable authorities.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certain
other assets of the Company contain asbestos that may have to be remediated
over time. Management has made its best estimate of the cost to remediate these
environmental issues. However, such estimates are difficult to estimate
including the timing of such costs. The Company believes that any subsequent
change in the liability associated with the asbestos removal will not have a
material adverse effect on the Company&#146;s consolidated financial position or
results of operations.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Company is subject to various other federal, state, and local laws affecting
its business, as well as a variety of regulations relating to such matters as
working conditions, equal employment opportunities and product safety. A
variety of state laws regulate the Company&#146;s contractual relationships with its
dealers, some of which impose restrictive standards on the relationship between
the Company and its dealers, including events of default, grounds for
termination, non-renewal of dealer contracts and equipment repurchase
requirements. The Company believes it is currently in material compliance with
all such applicable laws and regulations.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">19. QUARTERLY FINANCIAL DATA
(Unaudited)</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-bottom:10.0pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summarized quarterly financial data for 2010 and 2009
is presented below. Seasonal influences affect the Company&#146;s sales and profits,
with peak business occurring in May through August. </font></p>
<p style='margin-bottom:.0001pt;font-family:Arial;margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(in
thousands, except per share amounts)</font></p>
<table class=MsoNormalTable border=0 cellpadding=0 width=638
 style='width:100%;margin-left:1.3pt;border-collapse:collapse'>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td colspan=13 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2010</font></b></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=17 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">2009</font></b></p></td>
		<td style='border:none;padding:0in 0in 0in 0in'>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">First</font></b></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Second</font></b></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Third</font></b></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=top style='border-top:1.0pt solid windowtext;
  border-left:medium none;border-bottom:1.0pt solid windowtext;border-right:medium none;
  padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Fourth</font></b></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">First</font></b></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Second</font></b></p></td>
		<td colspan=3 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=3 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Third</font></b></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">&nbsp;</font></b></p></td>
		<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<b><font size="2">Fourth</font></b></p></td>
		<td style='border:none;padding:0in 0in 0in 0in' colspan=2>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
	</tr>
	<tr style='page-break-inside:avoid;height:7.05pt'>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Sales</font></p></td>
		<td valign=top style='border:medium none;padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>128,389</p></td>
		<td valign=top style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>134,334</p></td>
		<td valign=top style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>132,298</p></td>
		<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>129,519</p></td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>110,143</p></td>
		<td valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>113,243</p></td>
		<td valign=top style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in;' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>110,318</p></td>
		<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=3 valign=top style='padding:0in;
  ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>112,783</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Gross
  profit</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>28,135</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>28,681</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>32,390</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>27,708</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>21,727</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>24,329</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>25,649</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=3 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>22,856</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Net income
  </font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>3,993</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>4,870</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>8,150</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>4,104</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>1,543</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>2,992</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>4,583</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=3 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>9,515</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Earnings
  per share</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=3 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Diluted</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.34</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.41</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.68</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.34</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.15</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.30</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.46</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=3 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.83</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Average
  shares </p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=3 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Diluted</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>11,833</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>11,882</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>11,906</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>11,952</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>9,963</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>9,986</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>10,086</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=3 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>11,417</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Dividends
  per share</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.06</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.06</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.06</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.06</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.06</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.06</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.06</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=3 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>0.06</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">Market
  price of </font></p>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; common
  stock</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=3 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";margin-right:1.45pt;text-align:
  right'>&nbsp;</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; High</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>20.36</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>27.00</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>25.41</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>28.19</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>18.04</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>13.25</p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>17.16</p></td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=3 valign=top style='padding:0in; '>
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>17.33</p></td>
	</tr>
	<tr style='page-break-inside:avoid'>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;&nbsp;&nbsp; Low</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>16.62</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>19.58</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>18.68</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>21.55</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>9.22</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">&nbsp;</font></p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>9.90</p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>9.98</p></td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
		</td>
		<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
		<font size="2">$</font></p></td>
		<td colspan=3 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
		<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-right:1.45pt;text-align:
  right; margin-left:0in; margin-top:0in'>13.10</p></td>
	</tr>
	<tr height=0>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td width=0 style='border:none'></td>
		<td style='border:none'></td>
		<td width=0 style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
		<td style='border:none'></td>
	</tr>
</table>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
sum of quarterly earnings per share may not equal total year earnings per share
due to rounding of earnings per share amounts, and differences in
weighted-average shares and equivalent shares outstanding for each of the
periods presented.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:.7pt;text-align:justify;text-indent:17.3pt; margin-right:0in; margin-top:0in'>
<font size="2">The third quarter of 2010 results
include a tax credit of $0.9 million relating to prior years research and
development expenses. The fourth quarter 2009 results include the following
items: (1) a pre-tax charge of $14.1 million related to goodwill impairment,
(2) a pre-tax benefit of $3.7 million related to LIFO liquidation, and (3) a $<a
name="_GoBack">30.2 </a>million gain on bargain purchase of <i>Bush Hog</i>.
</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">&nbsp;</font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:24.5pt; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 70 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'>&nbsp;</font><p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">20. ACQUISITIONS AND INVESTMENTS</font></b></p>
<p><b><i><font size="2" face="Arial">Bush Hog</font></i></b></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:24.5pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">On October 22, 2009 (&#147;Closing Date&#148;), the Company acquired
the majority of the assets and assumed certain liabilities of Bush Hog located
in Selma, Alabama. The purchase included substantially all of the ongoing
business of Bush Hog, including the Bush Hog brand name and all related product
names and trademarks (the &#147;Acquisition&#148;). The purchase price consideration was
1.7 million unregistered shares of Alamo Group common stock which represented
approximately 14.5% of the outstanding stock of Alamo Group. Because the
restricted stock was issued in an unregistered private transaction, resale of
the shares is restricted and the shares may be resold only if registered or
sold in a transaction exempt from the registration requirements of the Securities
Act, including pursuant to Rule 144 under the Securities Act. Under Rule 144,
the restricted stock is subject to, among other things, an initial 6-month
holding period before any of the shares can be sold in the public market. Accordingly,
the fair value of the 1.7 million shares was based on the public market price
of Alamo common stock less a discount for lack of marketability associated with
the 6-month holding period. We utilized an Asian put option model to measure
the discount for lack of marketability. An Asian put option is an option that
entitles the holder to a payoff based on the average price of an underlying
asset, over a predetermined period. The closing price of our common stock on
October 22, 2009 was $16.09 per share.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:9.0pt;text-indent:24.5pt; margin-left:0in; margin-right:0in'>
<font size="2">The Acquisition was accounted for in
accordance with ASC Topic 805, <i>Business Combinations </i>(&#147;ASC Topic 805&#148;). Accordingly,
the total purchase price was allocated on a provisional basis to assets
acquired and net liabilities assumed in connection with the Acquisition based
on their estimated fair values as of the completion of the Acquisition. These
allocations reflected various provisional estimates that were available at the
time and were subject to change during the purchase price allocation period as
valuations are finalized. All valuations are now final.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:9.0pt;text-indent:24.5pt; margin-left:0in; margin-right:0in'>
<font size="2">The Company believes that it was
able to acquire <i>Bush Hog</i> for less than the fair value of its assets
because of (i) the Company&#146;s unique position as a market leader in this
industry segment and (ii) the seller&#146;s intent to exit its <i>Bush Hog</i>
operations. <i>Bush Hog</i> was an unprofitable venture, and the seller
approached the Company in an effort to sell <i>Bush Hog</i> and exit the
agricultural equipment manufacturing business that no longer fit its strategy.
With the seller's intent to exit the agricultural manufacturing business
segment and the Company&#146;s position as a market leader, the Company was able to
agree on a favorable purchase price.</font></p>
<p style='font-family:"Arial";margin-top:9.0pt;text-indent:24.5pt; margin-left:0in; margin-right:0in'>
<font size="2">The primary reason for the <i>Bush
Hog</i> acquisition was to help the Company further the goal of becoming the
largest manufacturer of agricultural mowers in the world. This acquisition
enabled the Company to expand its market presence, expand its product offerings
and enter new markets. </font></p>
<p style='font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in; text-indent:24.5pt'>
<font size="2">The fair
value of the net assets acquired was approximately $53.1 million, which exceeds
the preliminary estimated purchase price of $25.4 million. Accordingly, the
Company recognized the excess of the fair value of the net assets over the
purchase price of approximately $27.7 million as a gain on bargain purchase. The
gain on bargain purchase of $27.7 million was shown separately within income
from operations in the Consolidated Statements of Income in the Company&#146;s
Annual Report on Form 10-K for the year ended December 31, 2009. The recorded
amount was provisional and subject to change. The Company evaluated the
purchase price allocation during 2010, including the opening fair value of
inventory, accounts receivable, property, plant &amp; equipment, accrued
liabilities and deferred taxes, which required the Company to adjust the
recorded gain.</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">&nbsp;- 71 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:9.0pt;text-indent:24.5pt; margin-left:0in; margin-right:0in'>
<font size="2">The following table summarizes the
fair value of assets acquired and liabilities assumed as of the Closing Date.
Since the acquisition, net adjustments of $2,488,000 were made to the fair
value of the assets acquired and liabilities assumed with a corresponding
adjustment to the bargain purchase gain. A single estimate of fair value
results from a complex series of judgments about future events and
uncertainties and relies heavily on estimates and assumptions. The Company&#146;s
judgments used to determine the estimated fair value assigned to each class of
assets acquired and liabilities assumed, as well as asset lives, can materially
impact the Company&#146;s results of operations. The December 31, 2009 financial
statement balances and disclosures impacted by these adjustments have been
retrospectively adjusted. The adjustments were due to the final valuation of
property, plant and equipment, accounts receivable, other liabilities and
deferred taxes.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify;text-indent:.5in'>&nbsp;</p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=572
 style='width:100%;margin-left:0pt;border-collapse:collapse'>
		<tr style='page-break-inside:avoid'>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(in
  thousands)</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Initial</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Valuation</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Adjustments</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Adjusted </font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">Values</font></b></p></td>
		</tr>
		<tr style='page-break-inside:avoid'>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Accounts
  receivable </p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">25,571&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,974&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">27,545&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Inventory</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">21,875&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">453&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">22,328&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Prepaid
  expenses</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">395&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">395&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Property,
  plant &amp; equipment </font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">12,743&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(432) &nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">12,311&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">Other
  Liabilities </font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(9,357)&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">493&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">(8,864)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Net
  Assets acquired</p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">51,227&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2,488&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">53,715&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Intangible
  asset:</p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;&nbsp;&nbsp; Bush
  Hog trade name </p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,900&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">1,900&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Total
  assets acquired</p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">53,127&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2,488&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-bottom:medium none; border-top:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">55,615&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:right'>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Less:
  Fair value of 1.7 million unregistered shares</p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">25,438&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">&#151;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">25,438&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Gain
  on Bargain purchase</p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">27,689&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">2,488&nbsp;&nbsp;&nbsp;</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">30,177&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
			</td>
		</tr>
	</table></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-top:9.0pt'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:9.0pt;text-indent:24.5pt; margin-left:0in; margin-right:0in'>
<font size="2">In accordance with the closing
documents, the Company received a 50% undivided interest in the Accounts Receivable
of <i>Bush Hog</i>, subject to any net working capital adjustment. The post
closing net working capital adjustment was $3.8 million which increased
accounts receivable and the gain on bargain purchase. The Company will collect
payments on the acquired accounts receivable and remit 50% of the collections
to the seller less the $3.8 million. The <i>Bush Hog</i> accounts receivable
were recorded at 50% of the fair value, plus the working capital adjustment.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:9.0pt;text-indent:24.5pt; margin-left:0in; margin-right:0in'>
<font size="2">The intangible asset relates to the
appraised value of the <i>Bush Hog</i> name at closing and has an indefinite
life.</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:9.0pt;text-indent:24.5pt; margin-left:0in; margin-right:0in'>
<font size="2">Under 805-10, acquisition related
costs (i.e., advisory, legal, valuation and other professional fees) are not
included as a component of consideration transferred, but are accounted for as
expenses in the periods in which the costs are incurred. The Company incurred
$828,000 of acquisition related costs. </font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-indent:.25in; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In 2010 <i>Bush Hog</i>&#146;s net revenue was $88.9 million and
net profit was $4.3 million. In the period between the Closing Date and
December 31, 2009, <i>Bush Hog</i> generated approximately $10.9 million of net
revenue and $1.5 million net loss. The Company has included the operating
results of <i>Bush Hog</i> in its consolidated financial statements since the
Closing Date.</font></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:9.0pt;text-indent:24.5pt; margin-left:0in; margin-right:0in'>
<font size="2">The following table presents
unaudited supplemental pro forma information as if the acquisition of <i>Bush
Hog</i> had occurred on January 1, 2009 for the year ended December 31, 2010
and for the year ended December 31, 2009:</font></p>
<div align=center>
	<table class=MsoNormalTable border=0 cellpadding=0 width=595
 style='width:100%;margin-left:0pt;border-collapse:collapse'>
		<tr>
			<td valign=top style='padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-right:20.75pt'>&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td style='border:none;padding:0in 0in 0in 0in' colspan=3>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
		</tr>
		<tr>
			<td colspan=2 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:20.75pt; margin-left:0in; margin-top:0in'>
			<font size="2">(in thousands, except per share amounts)</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2010</font></b><font size="2">&nbsp;&nbsp;</font></p>
			</td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">&nbsp;</font></b></p></td>
			<td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<b><font size="2">2009</font></b><font size="2">&nbsp;</font></p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=top style='border:medium none;
  padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:20.75pt; margin-left:0in; margin-top:0in'>
			<font size="2">Net sales</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>524,540&nbsp;</p>
			</td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='border:medium none;padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>561,740&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:20.75pt; margin-left:0in; margin-top:0in'>
			<font size="2">Net gain (loss)</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>21,117&nbsp;</p>
			</td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p></td>
			<td valign=top style='padding:0in; '>
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>(10,516)</p>
			</td>
		</tr>
		<tr>
			<td colspan=2 valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:20.75pt; margin-left:0in; margin-top:0in'>
			<font size="2">Diluted gain (loss) per share</font></p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			1.78&nbsp;</p></td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
			<font size="2">$</font></p>
			</td>
			<td valign=top style='padding:0in; ' bgcolor="#B9DCFF">
			<p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";text-align:right; margin-left:0in; margin-right:0in; margin-top:0in'>
			(0.92)</p></td>
		</tr>
	</table></div>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 72 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<font size="2" face="Arial"><br clear=all
style='page-break-before:always'></font>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The unaudited pro forma financial information
is presented for informational purposes only and is not intended to represent
or be indicative of the consolidated results of operations of the Company that
would have been reported had the acquisition been completed as of the beginning
of the periods presented, and should not be taken as being representative of
the future consolidated results of operations of the Company. </p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
company knows that <i>Bush Hog</i>&#146;s main manufacturing property in Selma,
Alabama was contaminated with chlorinated volatile organic compounds which most
likely resulted from painting and cleaning operations during the 1960&#146;s and
&#145;70s. The contaminated areas were primarily in the location of underground
storage tanks and underneath the former waste storage area. Under the Asset
Purchase Agreement, <i>Bush Hog</i>&#146;s prior owner agreed to and has removed the
underground storage tanks at its cost and has remedied the identified
contamination in accordance with the regulations of the Alabama Department of
Environmental Management.&nbsp;An environmental consulting firm was retained by
the prior owner and is administering the cleanup and will monitor the sites on an
ongoing basis until the remediation program is complete and approved by the
applicable authorities.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b><u>Rivard Developpement</u></b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On May 30, 2008, the
Company purchased Rivard Developpement S.A.S. <i>(&#147;Rivard&#148;)</i>, a leading
French manufacturer of vacuum trucks, high-pressure cleaning systems and
trenchers. The purchase price was approximately &euro;15 million (approximately U.S.
$23 million) plus the assumption of certain liabilities. The Company has
allocated the purchase price to the acquired assets and liabilities assumed and
recorded goodwill of approximately &euro;9 million (approximately U.S. $15 million)
related to this acquisition. We finalized the purchase price allocation during
the second quarter of 2009. The majority of the purchase price was funded
utilizing the Company&#146;s cash reserves in Europe, with the balance from bank
credit facilities. <i>Rivard&#146;s</i> sales in 2007 were &euro;40 million
(approximately U.S. $62 million), and the company has 275 full-time employees.
<i>Rivard</i>
is located in Daumeray, France and was founded in 1952.</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:center'><b>21. SUBSEQUENT EVENTS</b></p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
Board of Directors of the Company adopted the Alamo Group Inc. Supplemental
Executive Retirement Plan (the &#147;Plan&#148;), effective as of January 3, 2011. The
Plan will benefit certain key management or other highly compensated employees
of the Company and/or certain subsidiaries who are selected by the Board to
participate. The Plan is also intended to provide a benefit from the Company
upon retirement, death or disability or a change in control of the Company. Accordingly,
the Plan obligates the Company to pay to a participant a Retirement Benefit (as
defined in the Plan) upon the occurrence of certain payment events to the
extent a participant has a vested right thereto. </font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in' align="center">
<font size="2">- 73 -</font></p>
<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
	<hr size=2 width="100%" noshade color=navy align=center></div>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>
<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>

</div>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21.1
<SEQUENCE>2
<FILENAME>ex21-1.htm
<TEXT>
<html>

<head>
<title>Exhibit 21</title>
</head>

<body>

&nbsp;<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;text-align:justify;font-size:10.0pt;font-family:"Arial";margin-bottom:0in;margin-bottom:.0001pt;
text-align:left'><b>&nbsp;</b></p>

<p style='margin-bottom:.0001pt;text-align:center;font-family:"Arial";font-weight:bold;text-decoration:underline; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Exhibit 21.1</font></p>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'><font style="font-size: 10.0pt">&nbsp;</font></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">SUBSIDIARIES OF ALAMO GROUP INC.</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<div align=center>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' id="table1" width="90%">
 <tr>
  <td style='border:none;padding:0in 0in 0in 0in' width=2>
	<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp;</font></td>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">&nbsp;</font></b></p>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'><b><u>
	<font size="2">Name</font></u></b></p>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">&nbsp;</font></b></p>
  </td>
  <td width=176 colspan=2 valign=top style='width:131.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">Jurisdiction
  </font>
  </b></p>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'><b><u>
	<font size="2">of
  Incorporation</font></u></b></p>
  </td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo Group
  (USA) Inc. (1)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Delaware</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group (Europe) Limited (1)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">United
  Kingdom</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group (Canada) Inc. (1)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">New Brunswick</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Gradall
  Industries, Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Delaware</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">NP Real
  Estate Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Ohio</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Bush Hog,
  Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Delaware</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Henke
  Manufacturing Corporation (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Kansas</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group (TX) Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Delaware</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group Services Inc.(2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Delaware</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group Management Inc.(2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Delaware</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group (WA) Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Delaware</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Sales Corp. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Delaware</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group (IL) Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Delaware</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Tiger
  Corporation (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Nevada</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Terrain
  King Corporation (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Nevada</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Schwarze
  Industries, Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alabama</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Schwarze
  Industries Australia PTY Ltd. (3)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Australia</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Schulte
  (USA) Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Florida</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group (SMC) Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Nevada</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Nite-Hawk
  Sweepers, LLC (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Washington</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group (IA) Inc. (2)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Nevada</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Group (FR) SAS (4)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">France</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Alamo
  Manufacturing Services (UK) Limited (4)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">United Kingdom</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">McConnel
  Ltd. (4)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">United Kingdom</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Twose of
  Tiverton Ltd. (5)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">United Kingdom</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Spearhead
  Machinery Ltd. (5)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">United Kingdom</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Bomford
  &amp; Evershed Ltd. (5)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">United Kingdom</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Bomford
  Turner Ltd. (5)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">United Kingdom</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Turner
  International (ENG) Ltd. (5)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">United Kingdom</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">SMA SAS
  (6)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">France</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">SCI La
  Saussaie (6)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">France</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Forges
  Gorce SAS(8)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">France</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Faucheux
  SAS (6)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">France</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:-6.8pt; margin-left:0in; margin-top:0in'>
	<font size="2">Rousseau SAS (6)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">France</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Rivard Developpement (6)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">France</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr>
  <td width=282 colspan=2 valign=top style='width:211.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Schulte
  Industries Ltd. (7)</font></p>
  </td>
  <td width=150 colspan=2 valign=top style='width:112.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">New Brunswick</font></p>
  </td>
  <td style='border:none;padding:0in 0in 0in 0in' width=27><p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</td>
 </tr>
 <tr height=0>
  <td width=2 style='border:none'></td>
  <td width=280 style='border:none'></td>
  <td width=2 style='border:none'></td>
  <td width=149 style='border:none'></td>
  <td width=27 style='border:none'></td>
 </tr>
</table>

</div>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">_____________________</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(1) 100% owned by Alamo Group Inc.</font></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(2) 100% owned by Alamo Group (USA) Inc.</font></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(3) 100% owned by Schwarze Industries, Inc.</font></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(4) 100% owned by Alamo Group (Europe) Limited</font></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(5) 100% owned by Alamo Manufacturing Services (UK) Limited</font></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(6) 100% owned by Alamo Group (FR) SAS</font></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(7) 100% owned by Alamo Group (Canada) Inc.</font></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">(8) 100% owned by SMA SAS</font></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;</font></p>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>ex23-1.htm
<TEXT>
<html>

<head>
<title>Exhibit 23.1</title>
</head>

<body>

<p style='margin-bottom:.0001pt;text-align:center;font-family:"Arial";font-weight:bold;margin-left:0in; margin-right:0in; margin-top:0in'>
&nbsp;</p>
<p style='margin-bottom:.0001pt;text-align:center;font-family:"Arial";font-weight:bold;margin-left:0in; margin-right:0in; margin-top:0in'>
&nbsp;</p>
<p style='margin-bottom:.0001pt;text-align:center;font-family:"Arial";font-weight:bold;margin-left:0in; margin-right:0in; margin-top:0in'>
<u><font size="2">Exhibit
23.1</font></u></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:12.0pt;
text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">Consent
of Independent Registered Public Accounting Firm</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:12.0pt;
text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center;line-height:12.0pt;
text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">The Board
of Directors of Alamo Group Inc.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We consent to the incorporation by reference in the
registration statements Nos. 33-91804, 333-88454 and 333-143216 on Form S-8 of
Alamo Group Inc. of our reports dated March 14, 2011, with respect to the
consolidated balance sheets of Alamo Group Inc. and subsidiaries as of December
31, 2010 and 2009, and the related consolidated statements of income,
stockholders&#146; equity, and cash flows for the years ended December 31, 2010 and
2009, and the effectiveness of internal control over financial reporting as of
December 31, 2010, which reports appear in the December 31, 2010 annual report
on Form 10-K of Alamo Group Inc.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Our report on the consolidated financial statements refers
to the Company&#146;s adoption of Accounting Standards Topic 805, <i>Business
Combinations</i> during the year ended December 31, 2009.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify;text-autospace:none'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' id="table1" width="100%">
 <tr>
  <td width=319 valign=top style='width:50%;border-right-style:none; border-right-width:medium; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">San
  Antonio, Texas<br>
	March 14,
  2011</font></p>
  </td>
  <td width=319 valign=top style='border-style:none; border-width:medium; width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">/s/KPMG
  LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;border-right-style:none; border-right-width:medium; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td width=319 valign=top style='border-style:none; border-width:medium; width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify;text-autospace:none'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify;text-autospace:none'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
&nbsp;</p>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>ex23-2.htm
<TEXT>
<html>

<head>
<title>Exhibit 23.2</title>
</head>

<body>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<u><b><font size="2">Exhibit 23.2</font></b></u></p>
<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">Consent of Independent Registered
Public Accounting Firm</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">We consent to the incorporation by reference in the
Registration Statement (Form S-8 No. 333-88454) pertaining to the First Amended
and Restated 1999 Non-Qualified Stock Option Plan, the Registration Statement
(Form S-8 No. 333-143216) pertaining to the Alamo Group Inc. 2005 Incentive
Stock Option Plan and the Registration Statement (Form S-8 No. 33-91804)
pertaining to the Alamo Group Inc. 1994 Incentive Stock Option Plan of Alamo
Group Inc. of our report dated March 6, 2009, with respect to the consolidated financial statements of Alamo Group Inc. for the year ended December 31, 2008, included in this Annual Report (Form 10-K) for the year ended December 31, 2010.</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' id="table1" width="100%">
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">San
  Antonio, Texas<br>
	March 11,
  2011</font></p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">/s/Ernst
  &amp; Young LLP</font></p>
  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
 </tr>
</table>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
&nbsp;</p>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>5
<FILENAME>ex31-1.htm
<TEXT>
<html>

<head>
<title>Exhibit 31.1</title>
</head>

<body>

&nbsp;<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify;text-autospace:none; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;text-align:center;font-family:"Arial";font-weight:bold;text-decoration:underline; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Exhibit
31.1</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">I, Ronald
A. Robinson, certify that:</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<table border="0" style="border-collapse: collapse" width="100%" id="table2">
	<tr>
		<td width="3%" valign="top">
<font size="2">1.</font></td>
		<td colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">I have reviewed this annual report
on Form 10-K of Alamo Group Inc.;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">2.</font></td>
		<td colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">3.</font></td>
		<td width="96%" colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and
for, the periods presented in this report;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">4.</font></td>
		<td width="96%" colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">The
registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting
(as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">a)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">b)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Designed such
internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">c)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Evaluated the
effectiveness of the registrant's disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this
report based on such evaluation; and</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">d)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Disclosed in
this report any change in the registrant's internal control over financial
reporting that occurred during the registrant's most recent fiscal quarter (the
registrant's fourth fiscal quarter in the case of an annual report) that has
materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">5.</font></td>
		<td width="96%" colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">The
registrant's other certifying officer(s) and I have disclosed, based on our
most recent evaluation of internal control over financial reporting, to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">a)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the
registrant's ability to record, process, summarize and report financial
information; and</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">b)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the registrant's internal control over financial reporting.</font></p>

		</td>
	</tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' id="table1" width="100%">
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">March 14, 2011</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:35%;border-bottom:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">/s/Ronald A. Robinson</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:14%;border-bottom:medium none windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
  </td>
  <td valign=top style='width:35%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Ronald A.
  Robinson</font></p>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">President
  &amp; Chief Executive Officer</font></p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
  </td>
  <td valign=top style='width:14%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>6
<FILENAME>ex31-2.htm
<TEXT>
<html>

<head>
<title>Exhibit 31.2</title>
</head>

<body>

&nbsp;<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin-bottom:.0001pt;text-align:center;font-family:"Arial";font-weight:bold;text-decoration:underline; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Exhibit
31.2</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">I, Dan E.
Malone, certify that:</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<table border="0" style="border-collapse: collapse" width="100%" id="table2">
	<tr>
		<td width="3%" valign="top">
<font size="2">1.</font></td>
		<td colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">I have reviewed this annual report
on Form 10-K of Alamo Group Inc.;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">2.</font></td>
		<td colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">3.</font></td>
		<td width="96%" colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and
for, the periods presented in this report;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">4.</font></td>
		<td width="96%" colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">The
registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting
(as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">a)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">b)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Designed such
internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">c)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Evaluated the
effectiveness of the registrant's disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this
report based on such evaluation; and</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">d)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Disclosed in
this report any change in the registrant's internal control over financial
reporting that occurred during the registrant's most recent fiscal quarter (the
registrant's fourth fiscal quarter in the case of an annual report) that has
materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">5.</font></td>
		<td width="96%" colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">The
registrant's other certifying officer(s) and I have disclosed, based on our
most recent evaluation of internal control over financial reporting, to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">a)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the
registrant's ability to record, process, summarize and report financial
information; and</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">b)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the registrant's internal control over financial reporting.</font></p>

		</td>
	</tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' id="table1" width="100%">
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">March 14,
  2011</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:34%;border-bottom:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">/s/Dan E.
  Malone</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:14%;border-bottom:medium none windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:34%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Dan E.
  Malone</font></p>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Executive
  Vice President &amp; Chief Financial Officer</font></p>
  </td>
  <td valign=top style='width:14%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:34%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in; border-right-style:none; border-right-width:medium'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:10.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='border-style:none; border-width:medium; width:14%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.3
<SEQUENCE>7
<FILENAME>ex31-3.htm
<TEXT>
<html>

<head>
<title>Exhibit 31.3</title>
</head>

<body>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>

<p style='margin-bottom:.0001pt;text-align:center;font-family:"Arial";font-weight:bold;text-decoration:underline; margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">Exhibit
31.3</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">I, Richard
J. Wehrle, certify that:</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<table border="0" style="border-collapse: collapse" width="100%" id="table2">
	<tr>
		<td width="3%" valign="top">
<font size="2">1.</font></td>
		<td colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">I have reviewed this annual report
on Form 10-K of Alamo Group Inc.;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">2.</font></td>
		<td colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">3.</font></td>
		<td width="96%" colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations and cash flows of the registrant as of, and
for, the periods presented in this report;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">4.</font></td>
		<td width="96%" colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">The
registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Exchange Act
Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting
(as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">a)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">b)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Designed such
internal control over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally
accepted accounting principles;</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">c)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Evaluated the
effectiveness of the registrant's disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this
report based on such evaluation; and</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">d)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Disclosed in
this report any change in the registrant's internal control over financial
reporting that occurred during the registrant's most recent fiscal quarter (the
registrant's fourth fiscal quarter in the case of an annual report) that has
materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">
<font size="2">5.</font></td>
		<td width="96%" colspan="2" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">The
registrant's other certifying officer(s) and I have disclosed, based on our
most recent evaluation of internal control over financial reporting, to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman"; margin-top:0in'>&nbsp;</p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">a)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the
registrant's ability to record, process, summarize and report financial
information; and</font></p>

		</td>
	</tr>
	<tr>
		<td width="3%" valign="top">&nbsp;</td>
		<td width="3%" valign="top">
<font size="2">b)</font></td>
		<td width="93%" valign="top">

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-top:0in'>
<font size="2">Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the registrant's internal control over financial reporting.</font></p>

		</td>
	</tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' id="table1" width="100%">
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">March 14,
  2011</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:33%;border-bottom:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">/s/Richard
  J. Wehrle</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:15%;border-bottom:medium none windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:33%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Richard
  J. Wehrle</font></p>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Vice
  President &amp; Corporate Controller </font> </p>
  </td>
  <td valign=top style='width:15%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:33%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in; border-right-style:none; border-right-width:medium'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='border-style:none; border-width:medium; width:15%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>8
<FILENAME>ex32-1.htm
<TEXT>
<html>

<head>
<title>Exhibit 32.1</title>
</head>

<body>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">Exhibit 32.1</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">CERTIFICATION PURSUANT TO</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">18 U.S.C. SECTION 1350,</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">AS ADOPTED PURSUANT TO</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In
connection with the Annual Report of Alamo Group Inc. (the &#147;Company&#148;) on Form
10-K for the period ended December 31, 2010 as filed with the Securities and
Exchange Commission on the date hereof (the &#147;Report&#148;), I, Ronald A. Robinson,
President &amp; Chief Executive Officer of the Company, certify, pursuant to 18
U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that:</font></p>

<ol style="font-size: 10pt">
	<li>
	<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
	<font size="2">The Report fully
complies with the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and</font></p></li>
	<li>
	<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
	<font size="2">The information
contained in the Report fairly presents, in all material respects, the
financial condition and results of operations of the Company.</font></p></li>
</ol>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' id="table1" width="100%">
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">March 14, 2011</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:39%;border-bottom:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";text-align:justify; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">/s/Ronald A. Robinson</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:10%;border-bottom:medium none windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
  </td>
  <td valign=top style='width:39%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Ronald A.
  Robinson</font></p>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">President
  &amp; Chief Executive Officer</font></p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>
  </td>
  <td valign=top style='width:10%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
</table>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>9
<FILENAME>ex32-2.htm
<TEXT>
<html>

<head>
<title>Exhibit 32.2</title>
</head>

<body>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">Exhibit 32.2</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">CERTIFICATION PURSUANT TO</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">18 U.S.C. SECTION 1350,</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">AS ADOPTED PURSUANT TO</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In
connection with the Annual Report of Alamo Group Inc. (the &#147;Company&#148;) on Form
10-K for the period ended December 31, 2010 as filed with the Securities and
Exchange Commission on the date hereof (the &#147;Report&#148;), I, Dan E.
Malone,
Executive Vice
  President &amp; Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that:</font></p>

<ol style="font-size: 10pt">
	<li>
	<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
	<font size="2">The Report fully
complies with the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and</font></p></li>
	<li>
	<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
	<font size="2">The information
contained in the Report fairly presents, in all material respects, the
financial condition and results of operations of the Company.</font></p></li>
</ol>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' id="table1" width="100%">
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">March 14,
  2011</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:38%;border-bottom:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">/s/Dan E.
  Malone</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:11%;border-bottom:medium none windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:38%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Dan E. Malone</p>
  <p style='margin-bottom:.0001pt;font-size:10.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>Executive Vice
  President &amp; Chief Financial Officer </p>
  </td>
  <td valign=top style='width:11%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:38%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in; border-right-style:none; border-right-width:medium'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(Principal
  Financial Officer)</font></p>
  </td>
  <td valign=top style='border-style:none; border-width:medium; width:11%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
</table>

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.3
<SEQUENCE>10
<FILENAME>ex32-3.htm
<TEXT>
<html>

<head>
<title>Exhibit 32.3</title>
</head>

<body>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">Exhibit 32.3</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">CERTIFICATION PURSUANT TO</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">18 U.S.C. SECTION 1350,</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">AS ADOPTED PURSUANT TO</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">&nbsp;</font></b></p>

<p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
<font size="2">In
connection with the Annual Report of Alamo Group Inc. (the &#147;Company&#148;) on Form
10-K for the period ended December 31, 2010 as filed with the Securities and
Exchange Commission on the date hereof (the &#147;Report&#148;), I, Richard J.
Wehrle,
Vice
  President &amp; Corporate Controller of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that:</font></p>

<ol style="font-size: 10pt">
	<li>
	<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
	<font size="2">The Report fully
complies with the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and</font></p></li>
	<li>
	<p style='margin-bottom:.0001pt;font-family:"Arial";margin-right:0in; margin-top:0in'>
	<font size="2">The information
contained in the Report fairly presents, in all material respects, the
financial condition and results of operations of the Company.</font></p></li>
</ol>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:justify'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' id="table1" width="100%">
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">March 14,
  2011</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:39%;border-bottom:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">/s/Richard
  J. Wehrle</font></p>
  </td>
  <td valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:10%;border-bottom:medium none windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:39%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Richard
  J. Wehrle</font></p>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">Vice
  President &amp; Corporate Controller </font> </p>
  </td>
  <td valign=top style='width:10%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:50%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td valign=top style='width:39%;border-right-style:none; border-right-width:medium; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-bottom:.0001pt;font-family:"Arial";margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(Principal
  Accounting Officer)</font></p>
  </td>
  <td valign=top style='border-style:none; border-width:medium; width:10%;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  &nbsp;</td>
 </tr>
</table>

</body>

</html>
</TEXT>
</DOCUMENT>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
