<SEC-DOCUMENT>0001157523-20-000564.txt : 20200423
<SEC-HEADER>0001157523-20-000564.hdr.sgml : 20200423
<ACCEPTANCE-DATETIME>20200423140659
ACCESSION NUMBER:		0001157523-20-000564
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200423
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200423
DATE AS OF CHANGE:		20200423

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GORMAN RUPP CO
		CENTRAL INDEX KEY:			0000042682
		STANDARD INDUSTRIAL CLASSIFICATION:	PUMPS & PUMPING EQUIPMENT [3561]
		IRS NUMBER:				340253990
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06747
		FILM NUMBER:		20810496

	BUSINESS ADDRESS:	
		STREET 1:		600 SOUTH AIRPORT ROAD
		STREET 2:		P.O. BOX 1217
		CITY:			MANSFIELD
		STATE:			OH
		ZIP:			44901
		BUSINESS PHONE:		419-755-1011

	MAIL ADDRESS:	
		STREET 1:		600 SOUTH AIRPORT ROAD
		STREET 2:		P.O. BOX 1217
		CITY:			MANSFIELD
		STATE:			OH
		ZIP:			44901
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a52208335.htm
<DESCRIPTION>THE GORMAN-RUPP COMPANY 8-K
<TEXT>
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    <div style="font-family: Calibri, sans-serif; font-size: 1pt;">&#160;</div>
    <div style="text-align: center; font-size: 14pt;"><font style="font-weight: bold;">UNITED STATES</font><br>
      <font style="font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: center;"><font style="font-size: 12pt;"> </font><br>
    </div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">CURRENT REPORT<br>
      Pursuant to Section&#160;13 OR 15(d) of The Securities Exchange Act of 1934</div>
    <div style="text-align: center;"><font style="font-size: 12pt;"> </font><br>
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    <div style="text-align: center; font-weight: bold;">Date of Report (Date of earliest event reported): April 23, 2020</div>
    <div>&#160;</div>
    <div style="text-align: center; font-size: 24pt; font-weight: bold;">THE GORMAN-RUPP COMPANY</div>
    <div style="text-align: center;">(Exact Name of Registrant as Specified in its Charter) &#160;</div>
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      <div style="text-align: center; font-size: 12pt;">&#160;</div>
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            <div style="text-align: center; font-weight: bold;">Ohio</div>
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            <div style="text-align: center; font-size: 8pt; font-weight: bold;">(State or other jurisdiction</div>
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">of Incorporation)</div>
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          <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">1-6747</div>
          </td>
          <td style="width: 30%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 40.37%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">34-0253990</div>
          </td>
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          <td style="width: 30%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">(Commission File Number)</div>
          </td>
          <td style="width: 30%; vertical-align: bottom;">
            <div style="font-size: 8pt;">&#160;</div>
          </td>
          <td style="width: 40.37%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">(I.R.S. Employee Identification No.)</div>
          </td>
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    <div style="font-size: 12pt;">&#160;</div>
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          <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">600 South Airport Road, Mansfield, Ohio</div>
          </td>
          <td style="width: 20%; vertical-align: bottom;">
            <div>&#160;</div>
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            <div style="text-align: center; font-weight: bold;">44903</div>
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          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">(Address of Principal Executive Offices)</div>
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            <div style="font-size: 8pt;">&#160;</div>
          </td>
          <td style="width: 40.38%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">(Zip Code)</div>
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          <td style="width: 99.91%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">(419)&#160;755-1011</div>
          </td>
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          <td style="width: 99.91%; vertical-align: top;">
            <div style="text-align: center; font-size: 8pt; font-weight: bold;">(Registrant&#8217;s Telephone Number, Including Area Code)</div>
          </td>
        </tr>

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    <div>&#160;</div>
    <div>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</div>
    <div style="font-size: 8pt;">&#160;</div>
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            <div style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
          </td>
          <td style="width: 96%; vertical-align: top;">
            <div>Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</div>
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            <div style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
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          <td style="width: 96%; vertical-align: top;">
            <div>Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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            <div style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
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          <td style="width: 96%; vertical-align: top;">
            <div>Pre-commencement communications pursuant to Rule&#160;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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    <div style="font-size: 8pt;">&#160;</div>
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            <div style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
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          <td style="width: 96%; vertical-align: top;">
            <div>Pre-commencement communications pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>
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    <div>&#160;</div>
    <div>Securities registered pursuant to Section 12(b) of the Exchange Act:</div>
    <div>&#160;</div>
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          <td style="width: 36%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000;">Title of each class</div>
          </td>
          <td style="width: 28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000;">Trading Symbol</div>
          </td>
          <td style="width: 36%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000;">Name of exchange on which registered</div>
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            <div style="text-align: center; color: #000000;">Common Shares, without par value</div>
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            <div style="text-align: center; color: #000000;">GRC</div>
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          <td style="width: 36%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000;">New York Stock Exchange</div>
          </td>
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    <div><br>
    </div>
    <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
    <div><br>
    </div>
    <div><font style="color: #000000;">Emerging growth company </font><font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
    <div><br>
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    <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
      Act. <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
    <div><font style="font-family: 'Segoe UI Symbol', sans-serif;"> <br>
      </font></div>
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    <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item&#160;2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION</div>
    <div><font style="font-family: 'Times New Roman',Times,serif;"> </font><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman',Times,serif;">On April 23, 2020, The Gorman-Rupp Company issued a news release announcing its financial results for the first quarter ended March 31, 2020.&#160; This news release is included as
      Exhibit&#160;99 and is being furnished, not filed, with the Current Report on Form 8-K.</div>
    <div style="text-indent: 24.5pt;"><font style="font-family: 'Times New Roman',Times,serif;"> </font><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; font-family: 'Times New Roman',Times,serif;">(d) <u>Exhibits</u></div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;"><u>Exhibit</u></div>
    <div style="font-family: 'Times New Roman',Times,serif;">(99)&#160; &#160; &#160;&#160;&#160; News Release dated April 23, 2020<br>
      <br>
    </div>
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    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">&#160;&#160;&#160;&#160;&#160;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="zd1675169a42b41bdb52effafecbd90bd" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

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              <div>&#160;</div>
            </td>
            <td colspan="2" rowspan="1">
              <div>THE GORMAN-RUPP COMPANY </div>
            </td>
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              <div>&#160;</div>
            </td>
            <td style="width: 3%;">
              <div>&#160;</div>
            </td>
            <td style="width: 47%;">
              <div>&#160;</div>
            </td>
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            <td style="width: 50%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 3%; padding-bottom: 2px;">By:<br>
            </td>
            <td style="width: 47%; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Brigette A. Burnel</td>
          </tr>
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            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 3%;">
              <div>&#160;</div>
            </td>
            <td style="width: 47%;">Brigette A. Burnel</td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 3%;">
              <div>&#160;</div>
            </td>
            <td style="width: 47%;">Vice President, General Counsel and<br>
            </td>
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            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 3%;">
              <div>&#160;</div>
            </td>
            <td style="width: 47%;">Corporate Secretary</td>
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    </div>
    <br>
    <div style="font-family: 'Times New Roman',Times,serif;">April 23, 2020</div>
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    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">EXHIBIT INDEX</div>
    <div><br>
    </div>
    <div><font style="font-family: 'Times New Roman',Times,serif;">Exhibit</font></div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    <div style="font-family: 'Times New Roman',Times,serif;"><a href="a52208335ex99.htm">(99) News Release dated April 23, 2020</a></div>
    <div style="font-family: 'Times New Roman',Times,serif;"> <br>
    </div>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a52208335ex99.htm
<DESCRIPTION>EXHIBIT 99
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99</font><br>
  </div>
  <div> <br>
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  <div>
    <div class="bw-release">
      <div class="bw-release">
        <div class="bw-release">
          <h1 style="text-align: center; list-style-position:inside;FONT-SIZE: 14pt;"> <b>Gorman-Rupp Reports First Quarter 2020 Financial Results</b> </h1>
          <div class="bw-release-body">
            <div class="bw-release-table-js bw-release-story">
              <p>MANSFIELD, Ohio--(BUSINESS WIRE)--April 23, 2020--The Gorman-Rupp Company (NYSE: GRC) reports financial results for the first quarter ended March 31, 2020. </p>
              <p> <u>First Quarter 2020 Highlights</u> </p>
              <ul style="list-style-type: disc;">
                <li> First quarter earnings per share were $0.21 compared to $0.28 per share for the first quarter of 2019 <br>
                  - First quarter of 2020 included a non-cash pension settlement charge of $0.04 per share </li>
                <li> Net sales decreased 5.4% or $5.2 million compared to the first quarter of 2019 </li>
                <li> First quarter incoming orders decreased 3.3% compared to the first quarter of 2019 and increased 3.5% compared to the fourth quarter of 2019 </li>
                <li> Strong balance sheet and liquidity with $82.4 million cash on hand and no debt </li>
              </ul>
              <p> Net sales for the first quarter of 2020 were $91.7 million compared to net sales of $96.9 million for the first quarter of 2019, a decrease of 5.4% or $5.2 million. Domestic sales decreased 3.4% or $2.3 million and international sales
                decreased 9.8% or $2.9 million compared to the same period in 2019. </p>
              <p> Sales in our water markets decreased 5.6% or $3.8 million in the first quarter of 2020 compared to the first quarter of 2019. Sales in the fire protection market increased $2.2 million driven primarily by increased domestic shipments and
                sales in the agriculture market increased $0.8 million. These increases were offset by decreased sales in the construction market of $6.1 million driven primarily by softness in oil and gas drilling activity. Also, sales of repair parts
                decreased $0.5 million, and sales in the municipal market decreased $0.2 million. </p>
              <p> Sales in our non-water markets decreased 4.9% or $1.4 million in the first quarter of 2020 compared to the first quarter of 2019. Sales in the industrial market increased $0.1 million. This increase was offset by decreased sales in the
                petroleum market of $1.1 million driven primarily by reduced demand from midstream oil and gas customers and decreased sales in the OEM market of $0.4 million. </p>
              <p> International sales were $26.3 million in the first quarter of 2020 compared to $29.2 million in the same period last year and represented 29% and 30% of total sales, respectively. The decrease in international sales was across most of
                the markets the Company serves. </p>
              <p> Gross profit was $23.4 million for the first quarter of 2020, resulting in gross margin of 25.6%, compared to gross profit of $23.3 million and gross margin of 24.1% for the same period in 2019. Gross margin improved 150 basis points due
                principally to lower material costs of 270 basis points as a result of the stabilization of material costs and selling price increases implemented in 2019 being fully realized. Partially offsetting these improvements was loss of leverage on
                fixed labor and overhead from lower sales volume compared to the first quarter of 2019. </p>
              <p> Selling, general and administrative (&#8220;SG&amp;A&#8221;) expenses were $14.9 million and 16.2% of net sales for the first quarter of 2020 compared to $14.4 million and 14.8% of net sales for the same period in 2019. SG&amp;A expenses as a
                percentage of sales increased 140 basis points primarily as a result of trade show expenses and loss of leverage from lower sales volume. </p>
              <p> Operating income was $8.6 million for the first quarter of 2020, resulting in an operating margin of 9.4%, compared to operating income of $9.0 million and operating margin of 9.2% for the same period in 2019. Operating margin improved 20
                basis points primarily as a result of lower material costs partially offset by loss of leverage from lower sales volume. </p>
              <p> Other income (expense), net was $1.7 million of expense for the first quarter of 2020 compared to income of $0.3 million for the same period in 2019. The increase to expense of $2.0 million was due primarily to a non-cash pension
                settlement loss of $1.5 million and $0.5 million of foreign exchange losses, which both occurred in the first quarter of 2020. </p>
              <div> </div>
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              </div>
              <p> Net income was $5.5 million for the first quarter of 2020 compared to $7.2 million in the first quarter of 2019, and earnings per share were $0.21 and $0.28 for the respective periods. Earnings per share for the first quarter of 2020
                included a non-cash pension settlement charge of $0.04 per share. </p>
              <p> The Company&#8217;s backlog of orders was $113.8 million at March 31, 2020 compared to $120.8 million at March 31, 2019 and $105.0 million at December 31, 2019. Incoming orders decreased 3.3% compared to the same period in 2019 while increasing
                3.5% compared to the fourth quarter of 2019. Incoming orders during the first quarter included an increase in the fire protection market but were down to the prior year across most other markets. </p>
              <p> Capital expenditures for the quarter ended March 31, 2020 were $1.7 million and consisted primarily of machinery and equipment. Capital expenditures for the full-year 2020 are presently planned to be in the range of $10-$15 million. </p>
              <p> Jeffrey S. Gorman, Chairman, President and CEO commented, &#8220;Unprecedented, pandemic, and COVID-19 are words you will see repeatedly in most companies reports this quarter. Gorman-Rupp is no exception and we are confident that we are
                prepared to meet the upcoming challenges of today. All of our facilities are currently operating as essential businesses, and we are closely following all national and local guidelines to provide for the health and safety of those working
                in these facilities. The transition for most of our office staff to &#8220;work from home&#8221; was accomplished with little disruption. While sales will likely continue to be challenging during these times, Gorman-Rupp is in a strong financial
                position with no debt and significant cash on hand. An infrastructure bill including investment in water, wastewater and flood control would be beneficial to us and the country. While we operate in a lean environment even during good
                economic conditions, contingency plans are in place to meet upcoming financial challenges arising from the pandemic, should they be necessary. For 87 years, taking care of our customers, employees and shareholders has been part of our core
                operating philosophy. Today is no exception.&#8221; </p>
              <p> About The Gorman-Rupp Company </p>
              <p> Founded in 1933, The Gorman-Rupp Company is a leading designer, manufacturer and international marketer of pumps and pump systems for use in diverse water, wastewater, construction, dewatering, industrial, petroleum, original equipment,
                agriculture, fire protection, heating, ventilating and air conditioning (HVAC), military and other liquid-handling applications. </p>
              <p> Forward-Looking Statements </p>
              <p> In connection with the &#8220;safe harbor&#8221; provisions of the Private Securities Litigation Reform Act of 1995, The Gorman-Rupp Company provides the following cautionary statement: This news release contains various forward-looking statements
                based on assumptions concerning The Gorman-Rupp Company&#8217;s operations, future results and prospects. These forward-looking statements are based on current expectations about important economic, political, and technological factors, among
                others, and are subject to risks and uncertainties, which could cause the actual results or events to differ materially from those set forth in or implied by the forward-looking statements and related assumptions. Such factors include, but
                are not limited to: (1) continuation of the current and projected future business environment, including the duration and scope of the COVID-19 pandemic, the impact of the pandemic and actions taken in response to the pandemic; (2) highly
                competitive markets; (3) availability and costs of raw materials; (4) loss of key personnel; (5) cyber security threats; (6) intellectual property security; (7) acquisition performance and integration; (8) compliance with, and costs related
                to, a variety of import and export laws and regulations; (9) environmental compliance costs and liabilities; (10) exposure to fluctuations in foreign currency exchange rates; (11) conditions in foreign countries in which The Gorman-Rupp
                Company conducts business; (12) changes in our tax rates and exposure to additional income tax liabilities; (13) impairment in the value of intangible assets, including goodwill; (14) defined benefit pension plan settlement expense; (15)
                family ownership of common equity; and (16) risks described from time to time in our reports filed with the Securities and Exchange Commission. Except to the extent required by law, we do not undertake and specifically decline any
                obligation to review or update any forward-looking statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments or otherwise. </p>
              <p> For additional information, contact James C. Kerr, Chief Financial Officer, Telephone (419) 755-1548. </p>
              <div> </div>
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              </div>
              <table cellspacing="0" id="zdb2f818ddc0f408aaf3b96e1e983c427" style="margin-bottom: 10.0px;margin-left: 0px; margin-right: auto; font-size: 10pt;">

                  <tr>
                    <td rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="9">The Gorman-Rupp Company</td>
                  </tr>
                  <tr>
                    <td rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="9">Condensed Consolidated Statements of Income (Unaudited)</td>
                  </tr>
                  <tr>
                    <td rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="9">(thousands of dollars, except per share data)</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;white-space: nowrap;" colspan="4">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> Three Months Ended March 31, </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;white-space: nowrap;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px; list-style-position: inside;"> 2020 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px; list-style-position: inside;"> 2019 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Net sales</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $91,671 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $96,859 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Cost of products sold</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 68,223 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 73,546 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 20.0px;">Gross profit</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 23,448 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 23,313 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Selling, general and administrative expenses</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;border-bottom: solid black 1.0pt;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: right; list-style-position:inside;"> 14,871 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;border-bottom: solid black 1.0pt;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;border-bottom: solid black 1.0pt;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: right; list-style-position:inside;"> 14,363 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 20.0px;">Operating income</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 8,577 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 8,950 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Other income (expense), net</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> (1,687 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> ) </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 292 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 20.0px;">Income before income taxes</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 6,890 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 9,242 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Income taxes</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 1,404 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 2,020 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 20.0px;">Net income</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: double black 2.25pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $5,486 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: double black 2.25pt;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: double black 2.25pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $7,222 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Earnings per share</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $0.21 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px;text-align: left;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $0.28 </p>
                    </td>
                  </tr>

              </table>
              <table cellspacing="0" id="zb6ea0ef8f64948418ee613e26a0df0d4" style="margin-bottom: 10.0px;margin-left: 0px; margin-right: auto; font-size: 10pt;">

                  <tr>
                    <td rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="8">The Gorman-Rupp Company</td>
                  </tr>
                  <tr>
                    <td rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="8">Condensed Consolidated Balance Sheets (Unaudited)</td>
                  </tr>
                  <tr>
                    <td rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="8">(thousands of dollars)</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> March 31, </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;text-align: center; list-style-position:inside;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> December 31, </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px; list-style-position: inside;"> 2020 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;text-align: center; list-style-position:inside;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> &#160; </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="margin-bottom: 0px; margin-top: 0px; list-style-position: inside;"> 2019 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><u>Assets</u></td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Cash and cash equivalents</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $82,436 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $80,555 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Accounts receivable, net</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 62,896 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 65,433 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Inventories, net</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 77,782 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 75,997 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Prepaid and other</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 6,384 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 5,680 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 20.0px;">Total current assets</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 229,498 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 227,665 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Property, plant and equipment, net</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 109,825 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 111,779 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Other assets</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 8,684 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 8,320 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Goodwill and other intangible assets, net</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 34,340 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 34,996 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 20.0px;">Total assets</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: double black 2.25pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $382,347 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: left;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: double black 2.25pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $382,760 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: left;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: left;vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><u>Liabilities and shareholders' equity</u></td>
                    <td colspan="1" rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Accounts payable</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $15,024 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $16,030 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Accrued liabilities and expenses</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 29,840 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 29,465 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 20.0px;">Total current liabilities</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 44,864 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 45,495 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Pension benefits</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 1,274 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 1,040 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Postretirement benefits</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 24,442 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 24,453 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Other long-term liabilities</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 3,419 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 3,894 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 20.0px;">Total liabilities</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 73,999 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 74,882 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Shareholders' equity</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 308,348 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 307,878 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 20.0px;">Total liabilities and shareholders' equity</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: double black 2.25pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $382,347 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;border-bottom: double black 2.25pt;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $382,760 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Shares outstanding</td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 26,091,492 </p>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="text-align: right; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                      <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 26,067,502 </p>
                    </td>
                  </tr>
                  <tr>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                    </td>
                    <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
                  </tr>

              </table>
              <p> &#160; </p>
            </div>
            <div class="bw-release-contact">
              <h2 style="FONT-SIZE: 14pt;">Contacts</h2>
              <p> Brigette A. Burnell <br>
                Corporate Secretary <br>
                The Gorman-Rupp Company <br>
                Telephone (419) 755-1246 <br>
                NYSE: GRC </p>
            </div>
          </div>
        </div>
      </div>
    </div>
  </div>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
