<SEC-DOCUMENT>0001157523-20-001031.txt : 20200724
<SEC-HEADER>0001157523-20-001031.hdr.sgml : 20200724
<ACCEPTANCE-DATETIME>20200724102618
ACCESSION NUMBER:		0001157523-20-001031
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200724
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200724
DATE AS OF CHANGE:		20200724

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:		201045555

	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>a52255046.htm
<DESCRIPTION>THE GORMAN-RUPP COMPANY 8-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: business wire
         Document created using EDGARfilings PROfile 7.0.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div><br>
  </div>
  <div><br>
    <div><font id="TRGRRTFtoHTMLTab" style="text-indent: 0px; font-size: 5.03pt;"> <br>
      </font></div>
    <div style="font-family: Calibri, sans-serif; font-size: 1pt;">&#160;</div>
    <div style="font-family: Calibri, sans-serif; font-size: 1pt;">&#160;</div>
    <div style="text-align: center;"><font style="font-weight: bold; font-size: 16pt;">UNITED STATES</font><font style="font-size: 16pt;"><br>
      </font> <font style="font-weight: bold; font-size: 16pt;">SECURITIES AND EXCHANGE COMMISSION</font></div>
    <font style="font-size: 16pt;"> </font>
    <div style="text-align: center; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold; font-size: 16pt;">FORM 8-K</div>
    <div><br>
    </div>
    <div style="text-align: center; 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;"> <br>
    </div>
    <div style="text-align: center; font-weight: bold;">Date of Report (Date of earliest event reported): July 24, 2020</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold; font-size: 16pt;">THE GORMAN-RUPP COMPANY</div>
    <font style="font-size: 16pt;"> </font>
    <div style="text-align: center;">(Exact Name of Registrant as Specified in its Charter) &#160;</div>
    <div>
      <div style="text-align: center;">&#160;</div>
      <div>
        <hr noshade="noshade" align="left" style="height: 1px; width: 100%; color: #000000; background-color: #000000; margin-left: 0px; margin-right: auto; border: none;"> </div>
    </div>
    <div> <br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z654cbd73c2034c46b2074e52f68ec358" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 30%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Ohio</div>
          </td>
          <td style="width: 30%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 30%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 40%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">(State or other jurisdiction</div>
            <div style="text-align: center; font-weight: bold;">of Incorporation)</div>
          </td>
          <td style="width: 30%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 30.63%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">1-6747</div>
          </td>
          <td style="width: 29%; 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>
        </tr>
        <tr>
          <td style="width: 30.63%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">(Commission File Number)</div>
          </td>
          <td style="width: 29%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 40.37%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">(I.R.S. Employee Identification No.)</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z4042a8ee17fe4c049df418e1c6a2e2e6" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 41.35%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">600 South Airport Road, Mansfield, Ohio</div>
          </td>
          <td style="width: 18.27%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 40.38%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center; font-weight: bold;">44903</div>
          </td>
        </tr>
        <tr>
          <td style="width: 41.35%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">(Address of Principal Executive Offices)</div>
          </td>
          <td style="width: 18.27%; vertical-align: bottom;">
            <div>&#160;</div>
          </td>
          <td style="width: 40.38%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="zb095847461524cef8612a0667453115e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <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>
        </tr>
        <tr>
          <td style="width: 99.91%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">(Registrant&#8217;s Telephone Number, Including Area Code)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div> <br>
    </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>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="zeb6471698b4849a98190f4535c969c75" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: middle;">
            <div style="font-family: 'Segoe UI Symbol',sans-serif;">&#9744;</div>
          </td>
          <td style="width: 98%; vertical-align: top;">
            <div>Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z8c6a2023bf6f4122afefe361c6cb4d59" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: top;">
            <div style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
          </td>
          <td style="width: 98%; vertical-align: top;">
            <div>Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="zdca862c4a4894339a49ffb732d860d68" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: top;">
            <div style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
          </td>
          <td style="width: 98%; 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>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z65d74cd84d274da8a3b47194642282c9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 2%; vertical-align: top;">
            <div style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
          </td>
          <td style="width: 98%; 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>
        </tr>

    </table>
    <div>&#160;</div>
    <div>Securities registered pursuant to Section 12(b) of the Exchange Act:</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" id="za63bbd4114074ba28f31025e91b525c3" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 33.33%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">Title of each class</div>
          </td>
          <td style="width: 33.33%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">Trading Symbol</div>
          </td>
          <td style="width: 33.33%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">Name of exchange on which registered</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.33%; vertical-align: bottom;">
            <div style="text-align: center;">Common Shares, without par value</div>
          </td>
          <td style="width: 33.33%; vertical-align: bottom;">
            <div style="text-align: center;">GRC</div>
          </td>
          <td style="width: 33.33%; vertical-align: bottom;">
            <div style="text-align: center;">New York Stock Exchange</div>
          </td>
        </tr>

    </table>
    <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>Emerging growth company <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
    <div><br>
    </div>
    <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 id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="font-weight: bold;"> <br>
    </div>
    <div style="font-weight: bold;">Item&#160;2.02&#160;&#160;&#160; RESULTS OF OPERATIONS AND FINANCIAL CONDITION</div>
    <div> <br>
    </div>
    <div style="text-indent: 36pt;">On July 24, 2020, The Gorman-Rupp Company issued a news release announcing its financial results for the second quarter and six months ended June 30, 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;"> <br>
    </div>
    <div style="font-weight: bold;">Item 9.01&#160;&#160;&#160; FINANCIAL STATEMENTS AND EXHIBITS</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">(d) <u>Exhibits</u></div>
    <div><br>
    </div>
    <div><u>Exhibit</u></div>
    <div>(99)&#160; &#160; &#160;&#160;&#160; News Release dated July 24, 2020</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <br>
    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
    <div><br>
    </div>
    <div>&#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><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" style="width: 100%; border-collapse: separate; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">

          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" colspan="2" style="width: 38%; font-family: 'Times New Roman',Times,serif; text-align: left;">
              <div>THE GORMAN-RUPP COMPANY</div>
            </td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">&#160;</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" align="left" style="width: 50%; padding-bottom: 2px;">
              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt"><br>
              </div>
            </td>
            <td valign="top" style="width: 3%; padding-bottom: 2px;">
              <div align="left" style="margin-left: 0pt; text-indent: 0pt; margin-right: 0pt">By: </div>
            </td>
            <td valign="top" nowrap="nowrap" align="left" style="width: 35%; border-bottom: #000000 2px solid">/s/ Brigette A. Burnell</td>
            <td valign="top" style="width: 12%; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" align="left" style="width: 35%;">Brigette A. Burnell</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">Vice President, General Counsel and</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>
          <tr>
            <td valign="top" style="width: 50%;">&#160;</td>
            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="top" style="width: 35%;">Corporate Secretary</td>
            <td valign="top" style="width: 12%;">&#160;</td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div>July 24, 2020</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">EXHIBIT INDEX</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="z7b3b5d763e2844c8bfbe8c9a44951066" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 100%; border-bottom: 2px solid rgb(0, 0, 0);">Exhibit</td>
          </tr>
          <tr>
            <td style="width: 100.00%;"><a href="a52255046ex99.htm">(99) News Release dated July 24, 2020</a></td>
          </tr>

      </table>
    </div>
    <div> <br>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a52255046ex99.htm
<DESCRIPTION>EXHIBIT 99
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: business wire
         Document created using EDGARfilings PROfile 7.0.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99</font><br>
  </div>
  <div style="text-align: right;"><font style="font-weight: bold;"> <br>
    </font></div>
  <div style="text-align: right;"><font style="font-weight: bold;"> <br>
    </font></div>
  <div><font style="font-weight: bold;"> </font>
    <div class="bw-release">
      <h1 style="text-align: center; list-style-position:inside;FONT-SIZE: 14pt;"> <b>Gorman-Rupp Reports Second 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)--July 24, 2020--The Gorman-Rupp Company (NYSE: GRC) reports financial results for the second quarter and six months ended June 30, 2020. </p>
          <p> <u>Second Quarter 2020 Highlights</u> </p>
          <ul style="list-style-type: disc;">
            <li> Second quarter earnings per share were $0.22 compared to $0.40 per share for the second quarter of 2019 <br>
              - Second quarter of 2020 included a non-cash pension settlement charge of $0.06 per share <br>
              - Second quarter of 2020 earnings per share improved over first quarter of 2020 due to cost containment efforts </li>
            <li> Net sales decreased 20.8% or $22.5 million compared to the second quarter of 2019 and decreased 6.4% compared to the first quarter of 2020 </li>
            <li> Backlog of $110.3 million at June 30, 2020, up 5.1% compared to backlog at December 31, 2019 </li>
            <li> Strong balance sheet and liquidity with $85.8 million cash on hand and no debt </li>
          </ul>
          <p> Net sales for the second quarter of 2020 were $85.8 million compared to net sales of $108.3 million for the second quarter of 2019, a decrease of 20.8% or $22.5 million. Domestic sales decreased 20.2% or $15.1 million and international sales
            decreased 22.0% or $7.4 million compared to the same period in 2019. Sales have decreased across all of our markets primarily as a result of the COVID-19 pandemic. Many of our customers are considered &#8220;essential&#8221; and have remained operational,
            although in some cases in a limited capacity. This, together with the overall economic downturn that has resulted from the pandemic, slowed demand in the second quarter. Nearly all of our facilities have remained operational and while there are
            some restrictions to the supply of materials and products globally, our supply chain has remained strong. </p>
          <p> Sales in our water markets decreased 19.1% or $14.5 million in the second quarter of 2020 compared to the second quarter of 2019. Sales in the construction market decreased $4.5 million driven primarily by softness in oil and gas drilling
            activity. Sales decreased in the fire protection market $3.6 million and in the repair market $3.1 million primarily as a result of the COVID-19 pandemic. Sales in the municipal market decreased $2.8 million driven primarily by timing of
            shipments related to weather and the COVID-19 pandemic. Also, sales in the agriculture market decreased $0.5 million. </p>
          <p> Sales in our non-water markets decreased 24.7% or $8.0 million in the second quarter of 2020 compared to the second quarter of 2019. Sales in the OEM market decreased $4.2 million driven primarily by slowing customer demand and travel
            restrictions due to the COVID-19 pandemic and softness in oil and gas drilling activity. Sales in the petroleum market decreased $2.8 million driven primarily by reduced demand from midstream oil and gas customers and softness in oil and gas
            drilling activity. Also, sales in the industrial market decreased $1.0 million. </p>
          <p> International sales were $26.2 million in the second quarter of 2020 compared to $33.5 million in the same period last year and represented 31% of total sales for both periods. The decrease in international sales was across most of the
            markets the Company serves, most notably in the fire protection market and in non-water markets. </p>
          <p> Gross profit was $21.8 million for the second quarter of 2020, resulting in gross margin of 25.5%, compared to gross profit of $28.2 million and gross margin of 26.0% for the same period in 2019. Gross margin decreased 50 basis points due
            principally to loss of leverage on fixed labor and overhead from lower sales volume compared to the second quarter of 2019, partially offset by product mix and selling price increases implemented in 2019 being fully realized. </p>
          <p> Selling, general and administrative (&#8220;SG&amp;A&#8221;) expenses were $12.9 million and 15.0% of net sales for the second quarter of 2020 compared to $15.0 million and 13.8% of net sales for the same period in 2019. SG&amp;A expenses decreased 14.3%
            or $2.1 million due to reduced payroll related and travel expenses combined with overall expense management. SG&amp;A expenses as a percentage of sales increased 120 basis points primarily as a result of loss of leverage from lower sales
            volume. </p>
          <p> Operating income was $9.0 million for the second quarter of 2020, resulting in an operating margin of 10.5%, compared to operating income of $13.2 million and operating margin of 12.2% for the same period in 2019. Operating margin decreased
            170 basis points primarily as a result of loss of leverage from lower sales volume. </p>
          <div> </div>
          <div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt" id="DSPFPageBreakArea">
            <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
              <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
          </div>
          <p> Other income (expense), net was $1.9 million of expense for the second quarter of 2020 compared to income of $0.2 million for the same period in 2019. The increase to expense was due primarily to a non-cash pension settlement charge of $1.9
            million which occurred in the second quarter of 2020. </p>
          <p> Net income was $5.6 million for the second quarter of 2020 compared to $10.5 million in the second quarter of 2019, and earnings per share were $0.22 and $0.40 for the respective periods. Earnings per share for the second quarter of 2020
            included a non-cash pension settlement charge of $0.06 per share. </p>
          <p> Net sales for the first six months of 2020 were $177.5 million compared to net sales of $205.2 million for the first six months of 2019, a decrease of 13.5% or $27.7 million. Domestic sales decreased 12.3% or $17.5 million and international
            sales decreased 16.3% or $10.2 million compared to the same period in 2019. Sales have decreased across most of our markets primarily as a result of the COVID-19 pandemic, along with a slowdown in the oil and gas industry. </p>
          <p> Sales in our water markets decreased 12.7% or $18.3 million in the first six months of 2020 compared to the first six months of 2019. Sales in the agriculture market increased $0.3 million. This increase was offset by sales decreases in the
            construction market of $10.6 million driven primarily by softness in oil and gas drilling activity, in the repair market of $3.5 million due primarily to the COVID-19 pandemic, and in the municipal market of $3.0 million driven primarily by
            timing of shipments related to weather and the COVID-19 pandemic. Also, sales in the fire protection market decreased $1.5 million driven primarily by lower international shipments as a result of the COVID-19 pandemic. </p>
          <p> Sales in our non-water markets decreased 15.3% or $9.4 million in the first six months of 2020 compared to the first six months of 2019. Sales in the OEM market decreased $4.7 million driven primarily by slowing customer demand and travel
            restrictions due to the COVID-19 pandemic and softness in oil and gas drilling activity. Sales in the petroleum market decreased $3.9 million driven primarily by reduced demand from midstream oil and gas customers and softness in oil and gas
            drilling activity. Also, sales in the industrial market decreased $0.8 million. </p>
          <p> International sales were $52.5 million in the first six months of 2020 compared to $62.7 million in the same period last year and represented 30% and 31% of total sales, respectively. The decrease in international sales was across most of the
            markets the Company serves. </p>
          <p> Gross profit was $45.3 million for the first six months of 2020, resulting in gross margin of 25.5%, compared to gross profit of $51.5 million and gross margin of 25.1% for the same period in 2019. Gross margin improved 40 basis points due
            principally to lower material costs of 260 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 six months of 2019. </p>
          <p> SG&amp;A expenses were $27.7 million and 15.6% of net sales for the first six months of 2020 compared to $29.4 million and 14.3% of net sales for the same period in 2019. SG&amp;A expenses decreased 5.5% or $1.6 million due to reduced payroll
            related and travel expenses combined with overall expense management. SG&amp;A expenses as a percentage of sales increased 130 basis points primarily as a result of loss of leverage from lower sales volume. </p>
          <p> Operating income was $17.6 million for the first six months of 2020, resulting in an operating margin of 9.9%, compared to operating income of $22.2 million and operating margin of 10.8% for the same period in 2019. Operating margin decreased
            90 basis points primarily as a result of loss of leverage from lower sales volume partially offset by lower material costs. </p>
          <p> Other income (expense), net was $3.6 million of expense for the first six months of 2020 compared to income of $0.5 million for the same period in 2019. The increase to expense was due primarily to non-cash pension settlement charges of $3.4
            million and $0.5 million of foreign exchange losses, which both occurred in the first six months of 2020. </p>
          <p> Net income was $11.1 million for the first six months of 2020 compared to $17.7 million in the first six months of 2019, and earnings per share were $0.43 and $0.68 for the respective periods. Earnings per share for the first six months of
            2020 included non-cash pension settlement charges of $0.10 per share. </p>
          <p> The Company&#8217;s backlog of orders was $110.3 million at June 30, 2020 compared to $107.0 million at June 30, 2019 and $105.0 million at December 31, 2019. Incoming orders decreased 7.9% for the first six months of 2020 compared to the same
            period in 2019. Incoming orders were down across most markets the Company serves driven primarily by the COVID-19 pandemic and a slowdown in the oil and gas industry. </p>
          <div> </div>
          <div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt" id="DSPFPageBreakArea">
            <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
              <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
          </div>
          <p> Capital expenditures for the first six months of 2020 were $3.5 million and consisted primarily of machinery and equipment and building improvements. Capital expenditures for the full-year 2020 are presently planned to be in the range of
            $10-$12 million. </p>
          <p> Jeffrey S. Gorman, Chairman, President and CEO commented, &#8220;Our Company is adapting to the tremendous global challenges from COVID-19 and continues to emphasize the health and safety of our customers, employees and communities. While sales and
            incoming orders have softened, we have implemented a heightened focus on managing expenses, which resulted in slightly improved earnings over the first quarter. I especially would like to thank all of our employees world-wide who have made it
            possible for Gorman-Rupp to continue to supply our essential products and services during this difficult time. While the ongoing impact of COVID-19 on our economy remains uncertain, our strong financial position allows us to remain focused on
            our long-term strategic initiatives.&#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>
          <div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt" id="DSPFPageBreakArea">
            <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
              <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
          </div>
          <table cellspacing="0" id="z7cd0693505234a9fab13ca92d86710b5" 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="14">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="14">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="14">(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 rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#160;</td>
              </tr>
              <tr>
                <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="6">Three Months Ended June 30,</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="6">Six Months Ended June 30,</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;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                  <p style="text-align: right; 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;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="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;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: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                  <p style="text-align: right; 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;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>
                <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="text-align: right; 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;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="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;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: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;border-bottom: solid black 1.0pt;padding-right: 0.0px;">
                  <p style="text-align: right; 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;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 rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                </td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#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="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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 85,814 </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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 108,330 </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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 177,485 </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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 205,189 </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="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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 63,965 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 80,138 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 132,188 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 153,684 </p>
                </td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                </td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 15.0px;">Gross profit</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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 21,849 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 28,192 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 45,297 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 51,505 </p>
                </td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                </td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;">Selling, general and</td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 5.0px;">administrative expenses</td>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> &#160; </p>
                </td>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> 12,852 </p>
                </td>
                <td colspan="1" rowspan="1" style="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="vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> &#160; </p>
                </td>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> 14,988 </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;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> &#160; </p>
                </td>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> 27,723 </p>
                </td>
                <td colspan="1" rowspan="1" style="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="vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> &#160; </p>
                </td>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> 29,351 </p>
                </td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                </td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 15.0px;">Operating income</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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 8,997 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 13,204 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 17,574 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 22,154 </p>
                </td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                </td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#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="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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> (1,930 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 231 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> (3,617 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 523 </p>
                </td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                </td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 15.0px;">Income before income taxes</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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 7,067 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 13,435 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 13,957 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 22,677 </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="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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 1,433 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 2,955 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 2,837 </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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 4,975 </p>
                </td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                </td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 15.0px;">Net income</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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 5,634 </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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 10,480 </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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 11,120 </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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 17,702 </p>
                </td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                </td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">&#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="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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 0.22 </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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 0.40 </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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 0.43 </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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 0.68 </p>
                </td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;"><br>
                </td>
                <td rowspan="1" colspan="3" 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 rowspan="1" colspan="3" 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;">
                  <p> &#160; </p>
                </td>
              </tr>

          </table>
          <div> </div>
          <div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt" id="DSPFPageBreakArea">
            <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
              <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
          </div>
          <table cellspacing="0" id="z1da80f21233e4cadbdbd8c869e91239d" 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="10">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="10">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="10">(thousands of dollars, except 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" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="2"><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;">&#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" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="2">
                  <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> June 30, </p>
                </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;" colspan="2">
                  <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="text-align: right; 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;"> 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;border-bottom: solid black 1.0pt;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; 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 rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="2"><u>Assets</u></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 rowspan="1" colspan="2" 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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 85,785 </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;"> $ </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="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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 60,391 </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;"> &#160; </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="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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 82,694 </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;"> &#160; </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="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;"> &#160; </p>
                </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;"> 5,314 </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;"> &#160; </p>
                </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 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 rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 15.0px;">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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 234,184 </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;"> &#160; </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="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 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 rowspan="1" colspan="2" 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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 109,157 </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;"> &#160; </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="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 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 rowspan="1" colspan="2" 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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 8,977 </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;"> &#160; </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="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 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 rowspan="1" colspan="2" 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;">Prepaid pension 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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 471 </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;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> &#160; </p>
                </td>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> - </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 rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" colspan="2" 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="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;"> &#160; </p>
                </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;"> 34,133 </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;"> &#160; </p>
                </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 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 rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 15.0px;">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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 386,922 </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;"> $ </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="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 rowspan="1" colspan="2" 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 rowspan="1" colspan="2" style="text-align: left;vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" style="text-align: center; list-style-position:inside;vertical-align: bottom;padding-left: 0.0px;" colspan="2"><u>Liabilities and shareholders' equity</u></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 rowspan="1" colspan="2" 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;"> $ </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 16,708 </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;white-space: nowrap;">
                  <p style="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> $ </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;white-space: nowrap;">
                  <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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 29,058 </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;"> &#160; </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="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 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 rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 15.0px;">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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 45,766 </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;"> &#160; </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="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 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 rowspan="1" colspan="2" 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="vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> &#160; </p>
                </td>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 0.0px;padding-right: 0.0px;">
                  <p style="text-align: right; list-style-position:inside;margin-bottom: 0px; margin-top: 0px;"> - </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;"> &#160; </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="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 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 rowspan="1" colspan="2" 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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 24,494 </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;"> &#160; </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="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 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 rowspan="1" colspan="2" 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;"> &#160; </p>
                </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;"> 3,338 </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;"> &#160; </p>
                </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 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 rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
              </tr>
              <tr>
                <td colspan="1" rowspan="1" style="vertical-align: bottom;padding-left: 15.0px;">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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 73,598 </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;"> &#160; </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="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 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 rowspan="1" colspan="2" 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;"> &#160; </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="list-style-position: inside; margin-bottom: 0px; margin-top: 0px;"> 313,324 </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;"> &#160; </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="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 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 rowspan="1" colspan="2" style="vertical-align: bottom;padding-left: 0.0px;">&#160;</td>
              </tr>
              <tr>
                <td rowspan="1" style="vertical-align: bottom;padding-left: 15.0px;" colspan="2">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="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;"> $ </p>
                </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;"> 386,922 </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;"> $ </p>
                </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 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 rowspan="1" colspan="2" 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;"> &#160; </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="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;"> &#160; </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="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 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 rowspan="1" colspan="2" 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>
    <font style="font-weight: bold;"> </font></div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
