<SEC-DOCUMENT>0001174947-11-000257.txt : 20110727
<SEC-HEADER>0001174947-11-000257.hdr.sgml : 20110727
<ACCEPTANCE-DATETIME>20110727170152
ACCESSION NUMBER:		0001174947-11-000257
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110727
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110727
DATE AS OF CHANGE:		20110727

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STURM RUGER & CO INC
		CENTRAL INDEX KEY:			0000095029
		STANDARD INDUSTRIAL CLASSIFICATION:	ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]
		IRS NUMBER:				060633559
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10435
		FILM NUMBER:		11990778

	BUSINESS ADDRESS:	
		STREET 1:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
		BUSINESS PHONE:		2032597843

	MAIL ADDRESS:	
		STREET 2:		1 LACEY PLACE
		CITY:			SOUTHPORT
		STATE:			CT
		ZIP:			06490
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d28454.htm
<DESCRIPTION>8-K
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 11pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;<BR></P>

<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0; text-align: center">UNITED STATES</P>
<P STYLE="font: bold 15pt Times New Roman, Times, Serif; margin: 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>
<P STYLE="font: 15pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 15pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>Pursuant to Section 13 or 15(d) of the</B></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>Securities Exchange Act of 1934</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>Date of Report (Date of earliest event reported)</B></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>July 27, 2011</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:20pt; margin:0px; font-size:18pt" align=center><B>STURM, RUGER &amp; COMPANY, INC.</B></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>(Exact Name of Registrant as Specified in its Charter)</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<TABLE style="font-size:10pt" cellspacing=0 align=center><TR height=0 style="font-size:0"><TD width=230.667></TD><TD width=230.667></TD><TD width=221.333></TD></TR>
<TR><TD valign=top width=230.667><P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>DELAWARE</B></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>(State or Other Jurisdiction of Incorporation)</P>
</TD><TD valign=top width=230.667><P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>001-10435</B></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>(Commission File Number)</P>
</TD><TD valign=top width=221.333><P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>06-0633559</B></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>(IRS Employer Identification Number)</P>
</TD></TR>
</TABLE>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONE LACEY PLACE, SOUTHPORT, CONNECTICUT &nbsp;&nbsp;&nbsp;&nbsp;06890</B></P>
<P style="line-height:14pt; margin:0px; padding-left:36px; font-size:12pt" align=center>(Address of Principal Executive Offices) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Zip Code)</P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>Registrant&#146;s telephone number, including area code <B>(203) 259-7843</B></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:16px; text-indent:48px; font-size:12pt">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 (<I>see</I> General Instruction A.2. below):</P>
<P style="margin-top:0px; margin-bottom:13.333px; text-indent:48px">&#9744; &nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P style="margin-top:0px; margin-bottom:13.333px; text-indent:48px">&#9744; &nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
<P style="margin-top:0px; margin-bottom:13.333px; padding-left:72px; padding-right:-7.2px; text-indent:-24px">&#9744; &nbsp;Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</P>
<P style="margin-top:0px; margin-bottom:13.333px; text-indent:48px">&#9744; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
<P style="margin:0px"><BR>
<BR></P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">1</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<HR NOSHADE SIZE="5">
<PAGE>
<BR>

<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:96px; text-indent:-96px; font-family:Times; font-size:12pt"><B>Item 2.02</B></P>
<P style="line-height:14pt; margin:0px; padding-left:96px; font-family:Times; font-size:12pt"><B>Results of Operations and Financial Condition</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; text-indent:48px; font-size:12pt">On July 27, 2011, the Company issued a press release to stockholders and other interested parties regarding
financial results for the second quarter ended July 2, 2011. &nbsp;A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; text-indent:48px; font-size:12pt">The information in this Current Report on Form 8-K and the Exhibit attached hereto shall not be deemed
&#147;filed&#148; for purposes of Section 18 of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;) or otherwise subject to the liabilities of that section, nor
shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; font-size:12pt"><B>Item 9.01</B></P>
<P style="line-height:14pt; margin:0px; text-indent:96px; font-size:12pt"><B>Financial Statements and Exhibits.</B></P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; font-size:12pt"><U>Exhibit No</U>.</P>
<P style="line-height:14pt; margin:0px; text-indent:96px; font-size:12pt"><U>Description</U></P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; font-size:12pt">99.1</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; margin-left:96px; font-size:12pt">Press release of Sturm, Ruger &amp; Company, Inc., dated July 27, 2011,
reporting the financial results for the second quarter ended July 2, 2011.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center><B>SIGNATURES</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:48px; font-size:12pt">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.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:336px; font-size:12pt">STURM, RUGER &amp; COMPANY, INC.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:336px; font-size:12pt">By: &nbsp;<U>/S/ THOMAS A. DINEEN</U></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; text-indent:336px; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name:</P>
<P style="margin:0px; text-indent:420px; font-size:12pt">Thomas A. Dineen</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; text-indent:336px; font-family:Times; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: </P>
<P style="margin:0px; text-indent:420px; font-family:Times; font-size:12pt">Principal Financial Officer,</P>
<P style="margin:0px; text-indent:420px; font-family:Times; font-size:12pt">Principal Accounting Officer,</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; text-indent:336px; font-family:Times; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px; text-indent:420px; font-family:Times; font-size:12pt">Vice President, Treasurer and</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; text-indent:336px; font-family:Times; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin:0px; text-indent:420px; font-family:Times; font-size:12pt">Chief Financial Officer</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt">Dated: &nbsp;July 27, 2011</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=right><BR>
<BR></P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">2</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<HR NOSHADE SIZE="5">


</BODY>

</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d28454_ex99-1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>
<P STYLE="margin: 0">&nbsp;<BR></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">EXHIBIT 99.1</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">

<IMG SRC="sturm_ruger.jpg" ALT="" STYLE="height: 75; width: 69; top: -6pt">

<FONT STYLE="font: 24pt PosterBodoni BT,serif">&nbsp;STURM, RUGER &amp; CO., INC.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1.5in">SOUTHPORT, CONNECTICUT 06890 U.S.A.</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 4in">FOR IMMEDIATE RELEASE</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 4in">&nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>STURM, RUGER &amp; COMPANY, INC. REPORTS SECOND QUARTER 2011 </P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=center>EARNINGS OF 57&#162; PER SHARE AND DECLARES DIVIDEND OF 14.2&#162; PER SHARE</P>
<P style="margin:0px" align=center><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:8px; text-indent:48px; font-size:12pt">SOUTHPORT, CONNECTICUT, July 27, 2011--Sturm, Ruger &amp; Company, Inc. (NYSE-RGR),
announced today that for the second quarter 2011, the Company reported net sales of $79.6 million and earnings of 57&#162; per share, compared with net sales of $64.4 million and
earnings of 43&#162; per share in 2010.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:8px; text-indent:42px; font-size:12pt">For the six months ended July 2, 2011, net sales were $155.1 million and earnings were
$1.00 per share. &nbsp;For the corresponding period in 2010, net sales were $132.7 million and earnings were 86&#162; per share.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:8px; text-indent:42.267px; font-size:12pt">The Company also announced today that its Board of Directors voted to declare a
quarterly dividend of 14.2&#162; per share on the Company&#146;s issued and outstanding shares of common stock. &nbsp;This cash dividend will be paid on August 26, 2011 to stockholders of record as of August 12, 2011.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:8px; text-indent:42px; font-size:12pt">Chief Executive Officer Michael O. Fifer made the following comments related to the
Company&#146;s results:</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt" align=justify>&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt" align=justify>The Company launched the new SR1911 pistol, the new Single-Ten revolver, and the new SR40c
pistol in the second quarter of 2011. &nbsp;New product introductions are a strong driver of demand and represented $26.7 million or 34% of sales in the second quarter of 2011.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt">&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt">Demand for our products remained strong in the second quarter of 2011. &nbsp;The estimated sell-through of
the Company&#146;s products from the independent distributors to retailers in the second quarter of 2011 increased by approximately 24% from the second quarter of 2010. &nbsp;National</P>
<P style="margin:0px"><BR>
<BR></P>
<P STYLE="line-height:14pt; margin:0px; font-family:Times; font-size:12pt" ALIGN="CENTER">3</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<HR NOSHADE SIZE="5">
<PAGE>
<BR>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt">Instant Criminal Background Check System (&#147;NICS&#148;) background checks (as adjusted by the
National Shooting Sports Foundation) increased 13% during this period.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt">&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt">The incoming order rate in the second quarter of 2011 increased 90% from the second quarter of 2010. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt" align=justify>&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt" align=justify>Cash provided by operating activities was $32.4 million for the six months ended
July 2, 2011. &nbsp;At July 2, 2011, our cash and equivalents and short-term investments totaled $76.5 million. &nbsp;Our current ratio is 3.2 to 1 and we have no debt.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt" align=justify>&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt" align=justify>During the first half of 2011, capital expenditures totaled $7.7 million, much of
it related to tooling and equipment for new products. &nbsp;We expect to invest approximately $15 million for capital expenditures during 2011.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt" align=justify>&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt" align=justify>At July 2, 2011, stockholders&#146; equity was $128.7 million, which equates to a
book value of $6.81 per share, of which $4.05 per share was cash and equivalents and short-term investments.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:48px; text-indent:-24px; font-family:Symbol; font-size:12pt" align=justify>&#183;</P>
<P style="line-height:14pt; margin:0px; padding-left:48px; font-size:12pt" align=justify>During the first half of 2011, we returned $4.8 million to our shareholders through: </P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:120px; text-indent:-24px; font-size:12pt" align=justify>1.</P>
<P style="line-height:14pt; margin:0px; padding-left:120px; font-size:12pt" align=justify>The payment of $2.8 million of dividends, and</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:120px; text-indent:-24px; font-size:12pt" align=justify>2.</P>
<P style="line-height:14pt; margin:0px; padding-left:120px; font-size:12pt" align=justify>The repurchase of 133,400 shares of our common stock in the open market at an average
price of $14.94 per share, for a total of $2.0 million. &nbsp;</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:72px; text-indent:-24px; font-family:Symbol; font-size:12pt" align=justify>&#183;</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:8px; padding-left:72px; font-size:12pt" align=justify>As of the end of the second quarter of 2011, $8.0 million remains
available for future stock repurchases.</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:-18.667px; padding-left:72px; text-indent:-24px; font-family:Symbol; font-size:12pt" align=justify>&#183;</P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:8px; padding-left:72px; font-size:12pt" align=justify>In May, the Company announced the Ruger Million Gun Challenge to
benefit the National Rifle Association. Ruger will donate $1 to the NRA for every Ruger firearm sold from April 2011 through March 2012, with the goal of selling one
million Ruger firearms and donating $1 million to the NRA. Ruger made its first Million Gun Challenge donation of $279,600 in July.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:8px; text-indent:42px; font-size:12pt">Today, the Company filed its Quarterly Report on Form 10-Q for the second
quarter of 2011. &nbsp;The financial statements included in this Quarterly Report on Form 10-Q are attached to this press release. </P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:8px; text-indent:42px; font-size:12pt">The Quarterly Report on Form 10-Q is available on the SEC website
at <FONT style="color:#0000FF"><U>www.sec.gov</U></FONT> and the Ruger website at <FONT style="color:#0000FF"><U>www.ruger.com/corporate</U></FONT>. Investors are urged
to read the complete Form 10-Q to ensure that they have adequate information to make informed investment judgments.</P>
<P style="margin-top:0px; margin-bottom:8px" align=justify><BR>
<BR></P>
<P STYLE="line-height:14pt; margin:0px; font-family:Times; font-size:12pt" ALIGN="CENTER">4</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<HR NOSHADE SIZE="5">
<PAGE>
<BR>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin-top:0px; margin-bottom:8px; font-size:12pt" align=justify><U>About Sturm, Ruger</U></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify>Sturm, Ruger was founded in 1949 and is one of the nation&#146;s leading manufacturers of high-quality
firearms for the commercial sporting market. &nbsp;Sturm, Ruger is headquartered in Southport, CT, with manufacturing facilities located in Newport, NH and Prescott, AZ.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="line-height:14pt; margin:0px; font-size:12pt" align=justify><I>The Company may, from time to time, make forward-looking statements and projections concerning
future expectations. Such statements are based on current expectations and are subject to certain qualifying risks and uncertainties, such as market demand, sales
levels of firearms, anticipated castings sales and earnings, the need for external financing for operations or capital expenditures, the results of pending litigation
against the Company, the impact of future firearms control and environmental legislation, and accounting estimates, any one or more of which could cause actual results
to differ materially from those projected. &nbsp;Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date
made. The Company undertakes no obligation to publish revised forward-looking statements to reflect events or circumstances after the date such forward-looking
statements are made or to reflect the occurrence of subsequent unanticipated events.</I></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR>
<BR></P>
<P STYLE="line-height:14pt; margin:0px; font-family:Times; font-size:12pt" ALIGN="CENTER">5</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<HR NOSHADE SIZE="5">
<PAGE>
<BR>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt" align=justify>STURM, RUGER &amp; COMPANY, INC.</P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:12pt" align=justify><U>Condensed Balance Sheets (Unaudited)</U></P>
<P style="margin:0px; font-size:12pt" align=justify><I>(Dollars in thousands, except share data)</I></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px; font-size:11pt" align=justify>&nbsp;&nbsp;&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72%; border: windowtext 1pt solid; padding-right: 0.05in; padding-left: 9pt">&nbsp;</TD>
    <TD STYLE="width: 14%; border: windowtext 1pt solid; padding-right: 0.05in; padding-left: 0.05in">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">July 2, 2011</P></TD>
    <TD STYLE="width: 14%; border: windowtext 1pt solid; padding-right: -8.1pt; padding-left: 0.05in; text-align: center">December 31, 2010</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; font-size:12pt" align=right><B>&nbsp;</B>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=top width=102><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; font-size:12pt" align=right><B>&nbsp;</B></P>
</TD><TD style="border-right:1px solid #000000" valign=top width=102><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt"><B>Assets</B></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; font-size:12pt" align=right><B>&nbsp;</B></P>
</TD><TD style="border-right:1px solid #000000" valign=top width=102><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; font-size:12pt" align=right>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=top width=102><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Current Assets</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; font-size:12pt" align=right>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=top width=102><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="line-height:14pt; margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Cash and cash equivalents</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>$12,038</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>$ &nbsp;&nbsp;5,132</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Short-term investments</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>64,493</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>52,493</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Trade receivables, net </P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>31,857</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>31,565</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Gross inventories</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>42,291</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>48,820</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px; text-indent:18px; font-size:12pt">Less LIFO reserve</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:1.2px; font-size:12pt" align=right>(37,101)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:1.2px; font-size:12pt" align=right>(37,448)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=484.8><P style="margin:0px; text-indent:18px; font-size:12pt">Less excess and obsolescence reserve</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:1.2px; font-size:12pt" align=right>(1,141)</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:1.2px; font-size:12pt" align=right>(1,545)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=484.8><P style="margin:0px; text-indent:18px; font-size:12pt">Net inventories</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>4,049</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>9,827</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px; font-size:12pt">Deferred income taxes</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>5,013</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>4,780</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=484.8><P style="margin:0px; font-size:12pt">Prepaid expenses and other current assets</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>801</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>1,427</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px; font-size:12pt">Total Current Assets</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>118,251</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>105,224</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px; font-size:12pt">Property, plant and equipment</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>156,896</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>150,379</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=484.8><P style="margin:0px; text-indent:18px; font-size:12pt">Less allowances for depreciation</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:1.2px; font-size:12pt" align=right>(112,118)</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:1.2px; font-size:12pt" align=right>(107,458)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=484.8><P style="margin:0px; text-indent:18px; font-size:12pt">Net property, plant and equipment</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>44,778</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>42,921</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=484.8><P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:12pt">Deferred income taxes</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>4,099</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
<P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>5,443</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=484.8><P style="margin:0px; font-size:12pt">Other assets</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-left:-36px; padding-right:7.2px; text-indent:36px; font-size:12pt" align=right>8,209</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>4,173</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:3px solid #000000" valign=top width=484.8><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Total Assets</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:3px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>$175,337</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:3px solid #000000" valign=top><P style="margin:0px; padding-right:7.2px; font-size:12pt" align=right>$157,761</P>
</TD></TR>
</TABLE>

<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P STYLE="line-height:14pt; margin:0px; font-family:Times; font-size:12pt" ALIGN="CENTER">6</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<HR NOSHADE SIZE="5">
<PAGE>
<BR>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; padding-left:0px; font-size:12pt">STURM, RUGER &amp; COMPANY, INC.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; text-indent:0px; font-size:12pt">Condensed Balance Sheets (Unaudited) (Continued)</P>
<P style="line-height:14pt; margin:0px; text-indent:0px; font-size:12pt"><I>(Dollars in thousands, except share data</I>)</P>
<P style="margin:0px" align=justify><BR></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72%; border: windowtext 1pt solid; padding-right: 3.95pt; padding-left: 9pt; text-indent: -9pt">&nbsp;</TD>
    <TD STYLE="width: 13%; border: windowtext 1pt solid; padding-right: 3.95pt; padding-left: 3.95pt; text-align: center">July 2, 2011</TD>
    <TD STYLE="width: 15%; border: windowtext 1pt solid; padding-right: 3.95pt; padding-left: 3.95pt; text-align: center">December 31, 2010</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; font-size:12pt" align=right><B>&nbsp;</B></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; font-family:Times; font-size:12pt" align=justify><B>Liabilities and Stockholders&#146; Equity</B></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; font-size:12pt">Current Liabilities</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; font-size:12pt">Trade accounts payable and accrued expenses</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>$ &nbsp;18,966</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>$ &nbsp;16,492</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; font-size:12pt">Product liability</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>741</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>449</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; font-size:12pt">Employee compensation and benefits </P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>10,343</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>10,923</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; font-size:12pt">Workers&#146; compensation</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>4,716</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>4,893</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; font-size:12pt">Income taxes payable</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>2,081</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>582</P>
</TD></TR>
<TR><TD style="border-top:1px solid #000000; border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; font-size:12pt">Total Current Liabilities</P>
</TD><TD style="border-top:1px solid #000000; border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>36,847</P>
</TD><TD style="border-top:1px solid #000000; border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>33,339</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Accrued pension liability</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>9,355</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>9,369</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Product liability accrual</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>415</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>573</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Contingent liabilities </P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>--</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>-- &nbsp;&nbsp;</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Stockholders&#146; Equity</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>&nbsp;</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Common Stock, non-voting, par value $1:</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>&nbsp;</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:6px; text-indent:18px; font-size:12pt">Authorized shares 50,000; none issued</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:-36px; padding-right:6.733px; text-indent:36px; font-size:12pt" align=right>--</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:-36px; padding-right:12.733px; text-indent:36px; font-size:12pt" align=right>-- &nbsp;&nbsp;</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:-6px; text-indent:6px; font-size:12pt" align=justify>Common Stock, par value $1: </P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>&nbsp;</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:24px; font-size:12pt">Authorized shares &#150; 40,000,000</P>
<P style="margin:0px; padding-left:24px; text-indent:24px; font-size:12pt">2011 &#150; 23,209,472 issued,</P>
<P style="margin:0px; padding-left:24px; text-indent:66px; font-size:12pt">&nbsp;18,910,038 outstanding</P>
<P style="margin:0px; padding-left:24px; text-indent:24px; font-size:12pt">2010 &#150; 23,003,285 issued,</P>
<P style="margin:0px; padding-left:24px; text-indent:66px; font-size:12pt">&nbsp;18,837,251 outstanding</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>23,209</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px"><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>23,003</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Additional paid-in capital</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>9,934</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>9,885</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Retained earnings</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>153,109</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>137,125</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Less: Treasury stock &#150; at cost</P>
<P style="margin:0px; padding-left:12px; text-indent:36px; font-size:12pt">2011 &#150; 4,299,434 shares </P>
<P style="margin:0px; padding-left:12px; text-indent:36px; font-size:12pt">2010 &#150; 4,166,034 shares</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px; padding-right:0.733px; font-size:12pt" align=right>(37,884)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>(35,885)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Accumulated other comprehensive loss</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:0.733px; font-size:12pt" align=right>(19,648)</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>(19,648)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Total Stockholders&#146; Equity</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>128,720</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>114,480</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top width=485.267><P style="margin:0px; padding-left:12px; text-indent:-12px; font-size:12pt">Total Liabilities and Stockholders&#146; Equity</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>$175,337</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:12.733px; font-size:12pt" align=right>$157,761</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=justify><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P STYLE="line-height:14pt; margin:0px; font-family:Times; font-size:12pt" ALIGN="CENTER">7</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<HR NOSHADE SIZE="5">
<PAGE>
<BR>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; padding-left:0px; font-size:12pt">STURM, RUGER &amp; COMPANY, INC.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; text-indent:0px; font-size:12pt"><U>Condensed Statements of Income (Unaudited)</U></P>
<P style="line-height:14pt; margin:0px; text-indent:0px; font-size:12pt"><I>(Dollars in thousands, except per share data)</I></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="line-height:13pt; margin:0px; text-indent:0px; font-size:11pt">&nbsp;&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: windowtext 1pt solid; border-left: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Three Months Ended</TD>

<TD COLSPAN="2" STYLE="border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Six Months Ended</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72%; border-top: windowtext 1pt solid; border-right: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 9pt; text-indent: -9pt">&nbsp;</TD>
    <TD STYLE="width: 14%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">July 2, 2011</TD>
    <TD STYLE="width: 14%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center" nowrap>July 3, 2010</TD>
<TD STYLE="width: 14%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">July 2, 2011</TD>
    <TD STYLE="width: 14%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">July 3, 2010</TD></TR>


<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:60px; text-indent:-12px; font-size:12pt">Net firearms sales</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:2.8px; padding-right:2.667px; font-size:12pt" align=right>$78,471</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$63,621</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>$152,912</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$130,891</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:60px; text-indent:-12px; font-size:12pt">Net castings sales</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>1,151</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>768</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>2,151</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>1,775</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:60px; text-indent:-12px; font-size:12pt">Total net sales</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>79,622</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>64,389</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>155,063</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>132,666</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:60px; font-size:12pt">&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; font-size:12pt" align=right>&nbsp;</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:60px; text-indent:-12px; font-size:12pt">Cost of products sold</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:-36px; padding-right:3.333px; text-indent:36px; font-size:12pt" align=right>51,157</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>42,649</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>102,604</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>87,794</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:60px; text-indent:-12px; font-size:12pt">Gross profit</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>28,465</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>21,740</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>52,459</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>44,872</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:60px; text-indent:-12px; font-size:12pt">Operating expenses:</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:60px; padding-right:60px; text-indent:-30px; font-size:12pt">Selling </P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>6,468</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>5,118</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>13,380</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>11,017</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:60px; padding-right:0.733px; text-indent:-30px; font-size:12pt">General and administrative</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>4,935</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>3,984</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>9,560</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>7,919</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:60px; padding-right:0.733px; text-indent:-30px; font-size:12pt">Other operating expenses, net</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>-</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>-</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>-</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>398</P>
</TD></TR>
<TR><TD style="border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:54px; text-indent:-12px; font-size:12pt">Total operating expenses</P>
</TD><TD style="border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>11,403</P>
</TD><TD style="border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>9,102</P>
</TD><TD style="border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>22,940</P>
</TD><TD style="border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>19,334</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:60px; text-indent:-12px; font-size:12pt">Operating income</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>17,062</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>12,638</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>29,519</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>25,538</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:30.733px; text-indent:-12px; font-size:12pt">Other income:</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:18.733px; padding-right:28.8px; text-indent:11.267px; font-size:12pt">Interest (expense) income, net</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; font-size:12pt" align=right>(13)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; font-size:12pt" align=right>(24)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>(33)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:0.733px; font-size:12pt" align=right>(57)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:18.733px; padding-right:28.8px; text-indent:11.267px; font-size:12pt">Other income, net</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>114</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>174</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>290</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>301</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:34.8px; text-indent:-12px; font-size:12pt">Total other income, net</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>101</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>150</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>257</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>244</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P style="margin:0px; font-size:12pt">Income before income taxes</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>17,163</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>12,788</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6.733px; font-size:12pt" align=right>29,776</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>25,782</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:12px; padding-right:60px; text-indent:-12px; font-size:12pt">Income taxes</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>6,350</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>4,604</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-left:-36px; padding-right:6.733px; text-indent:36px; font-size:12pt" align=right>11,017</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>9,281</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top width=295.2><P style="margin:0px; padding-right:60.467px; font-size:12pt">Net income</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>&nbsp;$10,813</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-left:-36px; padding-right:4.8px; text-indent:36px; font-size:12pt" align=right>$ 8,184 &nbsp;</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-left:-36px; padding-right:4.8px; text-indent:36px; font-size:12pt" align=right>$18,759 </P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-left:-36px; padding-right:4.8px; text-indent:36px; font-size:12pt" align=right>$16,501 &nbsp;</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top width=295.2><P style="margin:0px; padding-right:60.467px; font-size:12pt">Basic earnings per share</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:10.8px; text-indent:68px; font-size:12pt" align=justify>$0.57</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$0.43</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$1.00</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$0.86</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top width=295.2><P style="margin:0px; padding-left:18.733px; padding-right:34.8px; text-indent:-18.733px; font-size:12pt">Fully diluted earnings per share</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>$0.56</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$0.42</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$0.99</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$0.85</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top width=295.2><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top width=295.2><P style="margin:0px; padding-right:60.467px; font-size:12pt">Cash dividends per share</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:3.333px; font-size:12pt" align=right>$0.097</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$0.093</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$0.147</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:4.8px; font-size:12pt" align=right>$0.153</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P STYLE="line-height:14pt; margin:0px; font-family:Times; font-size:12pt" ALIGN="CENTER">8</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<HR NOSHADE SIZE="5">
<PAGE>
<BR>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; text-indent:0px; font-size:12pt">STURM, RUGER &amp; COMPANY, INC.</P>
<P style="margin:0px"><BR></P>
<P style="line-height:14pt; margin:0px; text-indent:0px; font-size:12pt"><U>Condensed Statements of Cash Flows (Unaudited)</U></P>
<P style="line-height:14pt; margin:0px; text-indent:0px; font-size:12pt"><I>(Dollars in thousands)</I></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border: windowtext 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border: windowtext 1pt solid; text-align: center">Six Months Ended</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72%; border-right: windowtext 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 14%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: center">July 2, 2011</TD>
    <TD STYLE="width: 14%; border-right: windowtext 1pt solid; border-bottom: windowtext 1pt solid; text-align: center">July 3, 2010</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: windowtext 1pt solid; padding-left: 9pt; font-weight: bold; text-indent: -9pt">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; padding-right: 9pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-right: windowtext 1pt solid; font-weight: bold; text-align: right">&nbsp;</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:-5.667px; font-size:12pt">Operating Activities</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=justify><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:30.333px; text-indent:-6px; font-size:12pt">Net income</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>$18,759</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:20px; font-size:12pt" align=right>$ 16,501</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:24.333px; font-size:12pt">Adjustments to reconcile net income to cash provided by operating activities:</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:30.333px; font-size:12pt">Depreciation</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>5,860</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:48px; font-size:12pt" align=right>4,419</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:30.333px; font-size:12pt">Slow moving inventory valuation adjustment</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(176)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:49.333px; font-size:12pt" align=right>(314)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:30.333px; font-size:12pt">Stock-based compensation</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>1,247</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:60px; font-size:12pt" align=right>908</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:30.333px; font-size:12pt">Loss (Gain) on sale of assets</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(7)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:68px; font-size:12pt" align=right>10</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:30.333px; font-size:12pt">Deferred income taxes</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>1,111</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:48px; font-size:12pt" align=right>1,920</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:30.333px; font-size:12pt">Changes in operating assets and liabilities:</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:48.333px; font-size:12pt">Trade receivables</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(292)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:48px; font-size:12pt" align=right>2,666</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:48.333px; font-size:12pt">Inventories</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>5,954</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:48px; font-size:12pt" align=right>1,061</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:48.333px; font-size:12pt">Trade accounts payable and accrued expenses</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>2,298</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:37.333px; font-size:12pt" align=right>(2,946)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:48.333px; font-size:12pt">Employee compensation and benefits</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(580)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:37.333px; font-size:12pt" align=right>(4,334)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:48.333px; font-size:12pt">Product liability</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>135</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:49.333px; font-size:12pt" align=right>(896)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:48.333px; font-size:12pt">Prepaid expenses, other assets and other liabilities</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(3,434)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:48px; font-size:12pt" align=right>1,296</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:48.333px; font-size:12pt">Income taxes payable</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>1,499</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:37.333px; font-size:12pt" align=right>(1,160)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:66.333px; font-size:12pt">Cash provided by operating activities</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>32,374</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:32px; font-size:12pt" align=right>&nbsp;19,131 </P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:18.333px; text-indent:-12px; font-size:12pt">Investing Activities</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:12.333px; font-size:12pt">Property, plant and equipment additions</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(7,719)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:29.333px; font-size:12pt" align=right>(12,598)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:12.333px; font-size:12pt">Proceeds from sale of assets</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>16</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:68px; font-size:12pt" align=right>16</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:12.333px; font-size:12pt">Purchases of short-term investments</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(47,496)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:29.333px; font-size:12pt" align=right>(76,977)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:12.333px; font-size:12pt">Proceeds from maturities of short-term investments</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>35,496</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:40px; font-size:12pt" align=right>74,736</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; text-indent:78.333px; font-size:12pt">Cash used for investing activities</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(19,703)</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:29.333px; font-size:12pt" align=right>(14,823)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:6.333px; font-size:12pt">Financing Activities</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:12.333px; font-size:12pt">Tax benefit from exercise of stock options</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>1,441</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:60px; font-size:12pt" align=right>698</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:12.333px; font-size:12pt">Repurchase of common stock</P>
<P style="margin:0px; padding-left:12px; text-indent:12.333px; font-size:12pt">Payment of employee withholding tax related to </P>
<P style="margin:0px; padding-left:12px; text-indent:12.333px; font-size:12pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;share-based compensation</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; padding-right:6px; font-size:12pt" align=right>(1,999)</P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(2,432)</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:78.667px; font-size:12pt" align=right>-</P>
<P style="margin:0px" align=right><BR></P>
<P style="margin:0px; text-indent:37.333px; padding-right:12px; font-size:12pt" align=right>(1,367)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:12.333px; font-size:12pt">Dividends paid</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(2,775)</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:37.333px; font-size:12pt" align=right>(2,940)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-left:12px; text-indent:66.333px; font-size:12pt">Cash used for financing activities</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:6px; font-size:12pt" align=right>(5,765)</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:37.333px; font-size:12pt" align=right>(3,609)</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:6.333px; font-size:12pt">Increase in cash and cash equivalents</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>6,906</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:60px; font-size:12pt" align=right>699</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-left:6.333px; font-size:12pt">Cash and cash equivalents at beginning of period</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>5,132</P>
</TD><TD style="border-right:1px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:48px; font-size:12pt" align=right>5,008</P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P>&nbsp;</P></TD><TD style="border-right:1px solid #000000; border-bottom:1px solid #000000" valign=top><P style="margin:0px" align=right><BR></P>
</TD></TR>
<TR><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-left:6.333px; font-size:12pt">Cash and cash equivalents at end of period</P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:12px; font-size:12pt" align=right>$12,038 </P>
</TD><TD style="border-right:1px solid #000000; border-bottom:2px solid #000000" valign=top><P style="margin:0px; padding-right:12px; text-indent:16px; font-size:12pt" align=right>$ &nbsp;5,707</P>
</TD></TR>
</TABLE>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P STYLE="line-height:14pt; margin:0px; font-family:Times; font-size:12pt" ALIGN="CENTER">9</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>

<HR NOSHADE SIZE="5">

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>sturm_ruger.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 sturm_ruger.jpg
M_]C_X``02D9)1@`!`@$!+`$L``#_X1[617AI9@``24DJ``@````.```!`P`!
M````K@````$!`P`!````O`````(!`P`#````M@````,!`P`!`````0````8!
M`P`!`````@```!(!`P`!`````0```!4!`P`!`````P```!H!!0`!````O```
M`!L!!0`!````Q````!P!`P`!`````0```"@!`P`!`````@```#$!`@`<````
MS````#(!`@`4````Z````&F'!``!````_````"@!```(``@`"`#`QBT`$"<`
M`,#&+0`0)P``061O8F4@4&AO=&]S:&]P($-3,R!7:6YD;W=S`#(P,3$Z,#0Z
M,C4@,C(Z-#$Z,3$``P`!H`,``0```/__```"H`0``0```*X````#H`0``0``
M`+P````````````&``,!`P`!````!@```!H!!0`!````=@$``!L!!0`!````
M?@$``"@!`P`!`````@````$"!``!````A@$```("!``!````2!T```````!(
M`````0```$@````!````_]C_X``02D9)1@`!`@``2`!(``#_[0`,061O8F5?
M0TT``O_N``Y!9&]B90!D@`````'_VP"$``P("`@)"`P)"0P1"PH+$14/#`P/
M%1@3$Q43$Q@1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P!
M#0L+#0X-$`X.$!0.#@X4%`X.#@X4$0P,#`P,$1$,#`P,#`P1#`P,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,#/_``!$(`*``E`,!(@`"$0$#$0'_W0`$``K_
MQ`$_```!!0$!`0$!`0`````````#``$"!`4&!P@)"@L!``$%`0$!`0$!````
M``````$``@,$!08'"`D*"Q```00!`P($`@4'!@@%`PPS`0`"$0,$(1(Q!4%1
M81,B<8$R!A21H;%"(R054L%B,S1R@M%#!R624_#A\6-S-1:BLH,F1)-49$7"
MHW0V%])5XF7RLX3#TW7C\T8GE*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8W
M1U=G=X>7I[?'U^?W$0`"`@$"!`0#!`4&!P<&!34!``(1`R$Q$@1!46%Q(A,%
M,H&1%*&Q0B/!4M'P,R1BX7*"DD-3%6-S-/$E!A:BLH,')C7"TD235*,79$55
M-G1EXO*SA,/3=>/S1I2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V)S='5V=W
MAY>GM\?_V@`,`P$``A$#$0`_`/54DDDE*224;+&5L=98X,8P%SWN,``:N<YQ
M_-:DIDLKK'UEZ/T<$9=TW1(QZ_=8?['^#_ZZZM<C]9OK];>78?17&JG4/R^'
MN_XG\ZEG_"?SW_%+D\+#RNI9M>+C@V9%[H$GO])SWN_D_3>JF7FP#PXQQ':^
MGT>@Y'_B\90][G)'#C`XO;VR<(ZY)2_FWL+?\8/5^H9+<3HV$T66G;6'S98>
M^[:WTZZ_;]/=ZFQ=!TOH_6[#7E=;ZE;9:T[QBXY%50_D7.H%;K__`#W_`,:C
M_5WZMX70\8-K`LRGB+\@C5QYVL_<J_D*/7OK5TSH9;7D%UN2\;FT5B3&L/>Y
MVUC&Z)\8F(X\T_I=0C_WS6S9L>7)]V^&<L!'4>YP^YS&7]Z7N9.*6+&[*=<1
MC_XSL1UD9.!977^]78+'?YCFT_\`5KJ>E];Z7U:O?@Y#;2!+J^'M_KU.A_\`
M:^@I(9L<](R!:?,_#N;Y8<6;#*$?WM)P^L\?%%AU7HU?41O;D9&)D-&UE^/:
MYA`UT<QKO3?]+]W?_P`(N/ZEE_77ZL/#K,G[?@S[;K&[VG6`V]W\_2__`*]L
M_<L>O04'*?BMI+<LL]&TBHML@M>7^P5;7?3]2=NQ#)B$M1(PE^\#_P!)?R?/
M2Q$8\F*/,X3I[62(G+_J4_F@\MT;_&'T_+<VGJ3/L5I@"V=U1)@>YWTZ?[?Z
M/_AEUK'->T/80YKA+7`R"#P0O,/KA]4G='L^V88+NG6NB.34X_X-_P"]4[_!
M6?\`6[?^&J?5SZUY_0[17)OP7'WXSCQ)G?0?\&__`*%B@CS,X2X,P_P@ZV?X
M+R_-8!S/PZ6^OLR/7]*'%+^;R?U9OKB2J=,ZGA=4Q&Y>'8+*G:']YKA]*NQO
MYEC5;5L$$6-07G9PE"1C,&,HFI1EI*)4DDDBM4DDDDI__]#U5))))2R\V^O'
MUI=G9#NEX5A^Q4F+G-XML:?^E34[_/?^D_T2ZGZ[=;=TKI!92XMR\PFJH@P6
MM_PUK?ZC?9_QEB\H5/F\Q'ZN/^%_WKTO_%WX<)?TS*+$3PX`?WH_-E_P?E@N
MO4OJ3]71TG`&5D,C.RV@OW"'5UGW,HU]S?W[OY?_`!*XOZE=(;U/K=?JMW8^
M*/7M!X.T_HJS/[UGYO\`HUZPAR>+?(?*/[2O_P",G/D</)P-6!/-Y?Y/'_W;
MPWUX^MF;BY;ND=.>:#6T')O;H^7MWMJJ=_@V[',?ZC/TG_%_X3A;K[\BUUV1
M8ZZU_P!*RQQ<XQI[GN]RZG_&'TJVKK#<^L%]6<UK9&L6U@5>GI_P;:]O_7$#
M.^I9Z;TQN7U'J%.+E/$MQ7`NDZ36+*R]SWMGW^G197_PGYZBS#+/).]1#Z1C
M']%O?#,G)<ORG+<-1R<Q'A],3/+ES?Y;Y!*?HG_B-')Z9C#ZMXO58./DON=1
MZ9=(N8T%WVJII]U>QWZ&W_!?\7]!955UM%C;:7NJM898]A+7`^+7-]S4SGO=
MM#G%P:-K9,P.=K?O45!(@D4*H#[>[J8\<HQD)R]SBE*6OZ,)G3'_`(+OU?7G
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M=S'#\0?Y37>UZ\.77?XO^O'#SOV7>[]6S'?HB?S;H]O_`&_'I_\`&>DH.5S\
M,N"7RRV_JR=7X]\,&;$>9QC]=B%SK_*XH_\`=XWTI),DM!XY=))))3__T?55
M7P\[&S1:[&?ZC*;#2YX&A<T-+]COSVMW;=RP?KSUY_2^F#'QW%N7FRQC@8+&
M#^>L'\KW>FS_`+<_P:T?JQBMQ/J_@4M[TML=/[UOZ=__`$K%'[EY#`?HBY?]
MR&V>4,.3CS,['NS]O#'O&'\[D_QOU<7@?\8'4#E]??0TS5AL;4V#(W$>I:[^
MMN=Z?_6ES2/FY+LO,ORG"'9%K[2/-[B__OR"LO)+BG*7<O><I@&#E\6$?Y.$
M8G^]^F?\9]&_Q:X0JZ5D9A$/R;=@/BRL>W_P2RU=@=1X>:POJ.V/JMA>?JG[
M[;5O+4P"L4!_5!_QM7A?BF0Y.>YB1Z9)0^F+]7'_`*#P7[6S^B8#.C9O2'9=
M^%83A9!:34YP<;*,AD,/O9O_`,&[?_@W^FLGJ&)U@X]OUDZW2YUSK&U8U%S/
M:TG<[U;:'_1QZ=FVFA_\]<_]-ZE7Z/)]34+J:KZW57,;;4\0]CP'-(\'-=[5
M'+ER17&:`](K_%XOWFWA^,QQRXH\O&,\DN+/,2EQ9!(\66.(2_F/=_2?(LCZ
ML]2JZ/5UH&N[%M&YXJ=+JP3M_2-:-OTOI[/YK_"+'7L?5<;!P?J_U"NBBNBC
M[/<376T,!)86\-'TG+QQ4^8Q#&8@=1KYO1?"/B$^<AFE(4(9*@:X?U<O5&,O
MZT%+N?\`%A=%O4*"=7-J>!V]IL:[_P`^,7#+O/\`%A0?\H9)&GZ*MKO^W'V#
M_P`]I<K?O1^O_13\=(_T=GO^I7][W(/>++^L^(,SZOYU')](V-_K5_IF?]*M
M:BB]K7M+7"6N$$>16G(7$CN*>'PY#CR0R#?'*,Q_@'B?"5*NQ]5C;*R6O80Y
MCAR"#+7)[:S5:^MW+'%I^1A06,^E:$=P7VK'MJZQT9EA)8S-H&XL.K2]ONVN
M_?J<L[ZI]<NZC1=A9T-ZGT]QJR!^^`2SU?\`.;LM_E_\:@?XO<HW_5QE9']&
MMLJ!\9C(_P#1ZYKJF<[ZO_7N[+K!%+GM=<T?G5W-8_(]H+=WO<^QG_"L6C++
M4<63I+TS_P`+_O7C,7(#)EY[D@/7BXLO+G_92X>#_JV.<7TM)0]2OT_4W#TX
MW;YTV\[MW[J2LN-1[>#_`/_2C]>\XY?UBO8#+,5K:&?(;[/_``5[UZ+C/+/J
M[4]O+<-KA\15*\FZT\6=8S[!!#\FYP(XU>XKU'H%@S_JKBAOY^+Z/S8#C._Z
M3%2Y:7%ER]SJ]/\`&<(Q<ER`KT8S&$O\*'_H$GR%.F25)Z=]4^H&0RWZM45M
MYQ[+*W_$N-__`%%S5TBX'_%GU"+,OIKW?2`OJ':1^CN_]$KOEJ\O+BQ1\!P_
MXKP/QC"<7/YP?TY>Z/\`JOZQ2997UDKZM^SSD](L<S,Q3Z@K:-PL;!%E)K,M
M?[??7_X&N'M_QC?6!]18UN/4XB!:QCBX>8]2RRO_`,#2R9XXS4@?#Q5R?PK/
MSD./!*!H\,XREPRQ]N+^K)Z#_&'UFO&Z8.EL,Y&9!>!RVIIW;C_QEC-C?^NK
MS5%R<G(R[WY&38ZVZPR^QYDDH2SLV4Y)F6PV'D]C\-Y&/)\N,0/%(GCR2_>R
M24O5/J!AG&^KE3S,Y5C[B#VU]%O^<RG>O*U[+]6WL?T#IQK((^SU@QXM:&O_
M`.F%-R0_6$]@YW_&;(1RF.`VGD]7^!&6CIIDZ'D7,Q\>W(L^A2QUCO@T;BM!
MY``D@#4G1\5ZJ0>IYA:9!OM((\-[E54GN<]Q>XRYQ))\RHK%)LDOI<(\,8Q_
M=`'V/H?^+&TG!S:OS66M<->[F[3I_P!;6'_C$V?\XCM.OHU[_C[O^^[5M?XL
M&G[+GNCVFRL`^8#Y_P"J7-?73*;D_67,<P[F5%M0\C6UK+!_V[ZBMS/]%AXG
M_OG!Y6%_'N:(VC"SYRCB>D_;9_\`&ZW[_P!/M^P_]+T]O];['[DEROVH_P#-
M;[)I'V_U?/\`F=G"2;[Q_P#&N'Z]V3_1F/M_X.]__J?^;_N/_]/*ZVST^LY[
M.S<FX#MP]R[3_%KU0/QLCI=A]])]>D']QT-M:/\`B[-O_;RY_P"OF$<7ZQW/
MB&9367,^8]-__@E;UD]*ZE?TOJ%.=1J^ETEO9S3[;*S_`%V+,C+VLY)Z$@_W
M7NLV`<_\+A&/S3QPGC/;+&.W_J.2_6L/[%U;,Q`TM;3<]K`?W)FH_P!JO:J2
MZ;ZZ?9,ZW&Z]@'=CYS-EL_29=6`WT[1KLL]+T_;_`,'ZBYE19(\,R!M>G]T_
M*W.2RG+R^.<@1/AX<D9?-'+#T98G_#;O1NIV]*ZECY]8W>B[WL_>8?;:S^U6
M5[-C9-.5CUY..X64W-#ZWCNTB1RO#%U_U'^M;.GN'2^H/VX=CIHM=Q4\G5K_
M`-VBS][_``=G_7'J?E,P@>&1],OPDY7Q_P"&RYC&,^(<67"*E$?-DQ>'];&^
MDKR3ZY9G3LKKEQP*F,962RVUG^%LD^K;^Y]+V[_\+_.KT7ZT=0?T[H.7DU';
M;LV5N&A#K"*FO;_*9OWKQU2<[/:'^$6I_P`6.5LY.:)-#]3`7H3\TS+_`)JD
MDDE2>H4N]_Q?_6/'KQ_V-F/%;P\NQ'N(#2'F74?U_4][/])ZBX)=S]1Z.A=7
MP+.G9V'2_*QB7BS:&O?4\_2-K"+7NJL=L_D,]%3<L9#(.$@&NOZ7]5S/C<<1
MY*7NPE*`E$\6.N/%VR\,OF_=>^7,_7_JPP>BG%88OSR:V^5;8-[N/-M7_75M
M@8'1^GDN>:<3&;)=8][]K?W0ZUUEG\FNO^Q6O)_K%UJSK75+,P@MJ'LQZS$M
MK;]&8_.=_./5SF<O!CK]*6G\7G?@?(?>.;&2B<&`\?%(</',?S</TO[\W+22
M1**;<BZNBEI?;:X,8T=W..UH6:]J2`+.@#Z%]4;F=%^IM_5+X(>^RYHX)(VX
MU54_R[:__!%YY==9?:^ZUQ?9:XO>X\ESCN<[_.70_6KK-5E.-T+`L#\'IS6L
M?:T:6VL&QUG]1GN_XQ^]_P#HES:FS3!X8#;&*_POTG-^&<N8G/S605DYN9R`
M'YH8/\C`_P!;A^9TOLA_YN_;-NGVST=__6O4VI+I/V*[_P`;KU-I]7U/MVWR
MGT-W_L+^D23O9/;_`"?&Q?Z1A^]_X-^[?R_J/__4ZK_&#T8YO2VYU+9OP)<X
M#DU._G>!_@X;;_Q?K+S->ZO:Q[2QX#FN!#FD2"#R"%X_]9>B6=%ZK9C0?0?^
MDQGG6:R?:/Z]?\V]4><Q41D'723U?_%OGA*$N4F?5"YXO&!^>'^#+UN:+[A2
MZ@/(J>X/=7/M+FR&OV_O-WN0TDE3>C``NANI))))3>?UKJ;^F?LNR\OPPX.;
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ME*4C<C9*L.#'@QC'BB(0CM$*4ZK;*7[ZG%CP"`X:'4;7?]$J"2#(0"*.MJ5O
MI73K>I]1HP*?IWO#2?W6CW66?];K#GJHO2OJ1T$=(P+.JY\4WWLW>\QZ5`_2
M?I/W'6;?5L_<_1_\(I,.(Y)@?HC61\&C\3YX<IR\I[Y9>C##][(?#^H]/]CQ
M_L?V'8/LWI^CZ?;T]OI[/\Q)<[^V<K]E?\X=[OL?V[U/2U_HD?L[;LW?2W_K
MNSZ'JI+1]R';IQ?]3_>_NO'?<N8_?_RGM[G_`';_`)G_`&O]=__5]&;UC$_:
MS^D635E!C;:0^`+6$>XTF?I5N:_?7_ZD5?ZS=`JZYT\T>UF35+\:UP^B[]QQ
M'N]*W_"?]N?X-97U_P"C696#7U3%D9.![GENCO2^DYS=ONW4/_2_U/66-T+_
M`!B9.,UN/U=CLFH:-R&1ZH`'^$:=K+OS??N8_P#XU5YY8B1QY1Z9?++IPNQR
MW(99X<?.\A*\N(UEQ7ZXY8?I0_?ADAZO;>2RL7(Q,BS&R6&JZEQ;8P\@CX(*
M]*ZQB?5OZVXXLPLRIG4&"*7D[7&/\%=2_;:ZO^7L_1_^!V<%U/H_4NE7>CG4
M.J))#'\L?$?S5@]C_I*EEPF&H]4.DA^UZ?D/B,.8`AD!P\S'Y\&0<$_[V,3^
M:#222243?4DDK&#3CWY3*LF\8M!/Z2\M+]H`G2MGO>[\UJ0%FD2D(@R-T!>@
MXC](Q^9[2S_\E[/E_P"W*X1>F&GH0^H[*K,BYW2A'ZPUL6']/_HW,=_AOY'\
MVLCIGU?^IV?O/3K[\[)J!<W"NL%'J1^;N]%CO^VW_P!=6LN(R.,`Q^2(W_)P
M>0Y_'@AS<IX\O">:S3XAC/#'BX?3DG+ACBE_M&U5:[-_Q<66=1.[TVN%-CN3
MLLV8_N_K_H%Y^N@^LO7NIY$=(MQATW%Q"`,)O/M'Z/U+-/4;^=7L_1_X1<^H
ML\Q(Q`UX(B!)_2(;_P`,Y>>+'EG*H_>,LL\,<#QPQPR?+'BCZ/\`$4DDDHG0
M4DDM;#ZW1TUK'=/PJQE@>[+R#ZSP[V^_&KVU44?1_P!'=;_PJ(`.YI9DE.(]
M$/<D?&,(_P"'*7Z/]R$WH/JU]5*<&L=;^L);CTTP^JBW2#^:^]I_._T>/]/?
M_F*G]:?K9?UVX=-Z:UPPG/#0(]][Y&S<W_1[_P":J_ZY9_P6!U#JG4.I6BW.
MO?>\3MW'1L\[&#V5_P!A=+_B]Z"<K,/5LAOZ#%,4`Q#KOWO^L-]W_&^G^XIX
MRXZQ8APQE\TOTI?WG)SX1R_'\0YV8S9L8_4XXZ8,,OT(8HR]4Y\7^4>T_8K/
M^;O[&D?T;T-_;?MCU?\`MW](DM-):'!'MTX?\%Y#[SE_>_RGO_\`5OWW_];U
M0@$$'4'0@KRSZX?5:SH^2<G%:7=.N,L//IN/^!?_`"?]$Y>J(=U-5]3J;F-L
MJL&U['"6D'LYI46;",D:.A'REO?#?B.3DLW''U8Y:9<?[\?^_B^&)S8\M#7.
M):WAI.@GP7;]<_Q<V!SK^BO#FG7[)88(_DTW.^E_U[_MY<AF=+ZE@NVY>+;0
M9(E["`8_=?\`1?\`V5G3Q3@?4/K^B]KROQ#E>:B#BR1,OW)>G+'_``&JDDIU
MU66N#*F.>\Z!K022?@%&VR:U+!)3MIMHL=5<QU=K##V/!:X'P<UR@DH$$6-;
M>\L__)>SY?\`MTN'HONQKF7T/-=M9#F/;H00N@L^MM#^BGHC>GAF'MAL7.+P
M[=ZOJ;W,]WZ;])M7.*7-,$PX3?#",?\`"BY_P[E\F./,C-#A][F,F:(D82O'
MF_>X)3_PGT%].)]>.A_:6M;3UK#&P[3R?I!C_P#NOD?2J_T%O_7?5X"VJRFQ
M]5K2RRMQ:]CA!#@8<UP5GI75<WI.6W,PG[+&Z.:=6N:?I5V-_.8Y:'6OK%B=
M8WW7]-JKS7M#?M5;W@^WNZOZ%GM]OZ1&<HY(B1/#D'S=I_\`H2WEL&?E,LL4
M(^[R<SQ8JE'CY64OFQUDEZL+AI)*WTOIF1U3+&)C.8+G`EC;';=T?FL/[_YR
MA`)-#<NA.<81,YD1C$7*1VB&HDNLQ_\`%OURP@W6T4-GW2YSG1Y-8S;_`."+
M?Z;_`(N>D8Q#\VQ^:\?FG]'7_F,)L_\`!5-'E<LOT:_O.=G^.<AB!_6^[+]W
M$./_`)W\W_SWC_JU]5\OKN1(!JPJS^FR"/\`P*F?IV_^>_\`"+U?$Q,;"QJ\
M7%K%5%(VL8W@#_OSG?2>_P#/4ZJ:J:VU4L;76P0QC`&M`\&M;[6J:OX<$<8[
MR.\GE?B?Q3+STQ8X,4/YO%?_`#Y_O34DDDI7.?_7]522224LLH?6CHK;GXV3
MD#$R:W%ME.0#66G^L[]$YCV^]CV6?06JLGKWU:Z;URL?:6EF0QNVK)9]-HYV
MN_TE>[\QW_6_339\=7"K[2ZL_+?=S/AYCCC`_IXOFQGQA+YX(<SZS_57'!?9
MDTVN\*AZI/\`VV'+DNN?7_*RF'&Z16<&@B#=H+B(_-V>VC^QO?\`\(J75OJ-
MUWIY+JJOMM$Z64`N=SIOH_G?\SU&?\(L!['L<6/:6N:8<TB"#YA4,V?-\I'M
M^7_?/5_#OA7PXUEQY/O=;<<A*,/^I?\`JU8DN)),DZDE,G:USW!K07.<8:T:
MDD]@NEZ7]0NLYN-9D7M^Q@,<::K1%CWCZ##6=OHL<[_"6?\`;:@A"4S402ZV
M?FL'+Q$LV2.,'0<77^[%YE).002"((T(/,IDUF4DND^H/3Z<WKI]=C;:J:;'
MECQN:=VVC:YK@6N]MRZ3JG^+CIN0XV=.M=AN/-1'J5_V=Q]1G^>]30Y><X<<
M==:IS>9^,<MRW,_=\W%'TB7N5Q0]7Z,N'UOFZDQSF.#V$M<T@M<#!!'!!75O
M_P`6O7`3LOQGM['<\'_STB4?XL^JN=^L95%;?%F]Y_S7,I_ZI#[OE_<*\_%_
MA]6>8A7U/_-8])_QC=1Q:FT]0I&:UH`;:';+(_X0[7LM]O\`)K79=#ZYD=8'
MKLP7X^%'MON<`7NTTJI:T[Z_^&WK/Z5]0.BX+A;D[LZT?Z4`5@_\0/I?]==:
MNF&@@<*]AAF`_62T_=W/UD\M\3YGX=.1^Z8/5+YLOKQP_P"IX>+^7^;72224
M[DJ22224_P#_T/54DDDE*22224LH6TU7#;:QMC?!P#A_TD1))0)!L:(ZJ**1
M%5;*P>=C0W_J5-.DDDDG4FWRSZ]=$=T[J[LJMOZKG$V,(X%G^'K_`,[]+_US
M_@US2]JZSTG&ZOT^S!R!`?K79$ECQ]"UG]7_`*C]&O,<3ZI=4MZ[^Q[F>D6'
M==<)+!5/\_6Z/?ZG^!_X3^<]/](L[F,!$[B+$SI_>>Q^#_%L>3E3'/,1R<M'
MUF7Z>&'RY/\`N9O5_P"+?IIHZ;=U!XAV8_;7_P`77(W#^M:ZS_MM6,H]4Q69
MKL;-OOOHRZL?&KN+"UTUX^7Z;]E3/?<^VS'W+I,?'IQJ*\>ANRFEH96P28:T
M;6CW>Y$@>'G\U<CBJ$8@UP]1XO.9?B!R<UFSR@)C*01"8B:CCE'VQ^E_DX\$
MG%Z#U2_J.?GV%SOLCFTV83'``BIWK5;XVM?^GLQW7>__``?IK;3``<"$ZDB"
M!1-GNU,^2,\AE"'MQJ,1#?Y(QAOZ?5+A]2DDDD6-22222E))))*?_]G_[2."
M4&AO=&]S:&]P(#,N,``X0DE-!"4``````!``````````````````````.$))
M300O``````!*6%\!`$@```!(``````````````#0`@``0`(`````````````
M&`,``&0"`````<`#``"P!````0`/)P$`9P!E`'(`+@!T`&D`9@`X0DE-`^T`
M`````!`!+`````$``0$L`````0`!.$))300F```````.`````````````#^`
M```X0DE-!`T```````0````>.$))3009```````$````'CA"24T#\P``````
M"0```````````0`X0DE-!`H```````$``#A"24TG$```````"@`!````````
M``(X0DE-`_4``````$@`+V9F``$`;&9F``8```````$`+V9F``$`H9F:``8`
M``````$`,@````$`6@````8```````$`-0````$`+0````8```````$X0DE-
M`_@``````'```/____________________________\#Z`````#_________
M____________________`^@`````_____________________________P/H
M`````/____________________________\#Z```.$))300(```````0````
M`0```D````)``````#A"24T$'@``````!``````X0DE-!!H``````TL````&
M``````````````"\````K@````L`<P!T`'4`<@!M`%\`<@!U`&<`90!R````
M`0`````````````````````````!``````````````"N````O```````````
M```````````!`````````````````````````!`````!````````;G5L;```
M``(````&8F]U;F1S3V)J8P````$```````!28W0Q````!`````!4;W`@;&]N
M9P``````````3&5F=&QO;F<``````````$)T;VUL;VYG````O`````!29VAT
M;&]N9P```*X````&<VQI8V5S5FQ,<P````%/8FIC`````0``````!7-L:6-E
M````$@````=S;&EC94E$;&]N9P`````````'9W)O=7!)1&QO;F<`````````
M!F]R:6=I;F5N=6T````,15-L:6-E3W)I9VEN````#6%U=&]'96YE<F%T960`
M````5'EP965N=6T````*15-L:6-E5'EP90````!);6<@````!F)O=6YD<T]B
M:F,````!````````4F-T,0````0`````5&]P(&QO;F<``````````$QE9G1L
M;VYG``````````!"=&]M;&]N9P```+P`````4F=H=&QO;F<```"N`````W5R
M;%1%6%0````!````````;G5L;%1%6%0````!````````37-G951%6%0````!
M```````&86QT5&%G5$585`````$```````YC96QL5&5X=$ES2%1-3&)O;VP!
M````"&-E;&Q497AT5$585`````$```````EH;W)Z06QI9VYE;G5M````#T53
M;&EC94AO<GI!;&EG;@````=D969A=6QT````"79E<G1!;&EG;F5N=6T````/
M15-L:6-E5F5R=$%L:6=N````!V1E9F%U;'0````+8F=#;VQO<E1Y<&5E;G5M
M````$453;&EC94)'0V]L;W)4>7!E`````$YO;F4````)=&]P3W5T<V5T;&]N
M9P`````````*;&5F=$]U='-E=&QO;F<`````````#&)O='1O;4]U='-E=&QO
M;F<`````````"W)I9VAT3W5T<V5T;&]N9P``````.$))300H```````,````
M`3_P````````.$))3001```````!`0`X0DE-!!0```````0````!.$))300,
M`````!UD`````0```)0```"@```!O``!%8```!U(`!@``?_8_^``$$I&248`
M`0(``$@`2```_^T`#$%D;V)E7T--``+_[@`.061O8F4`9(`````!_]L`A``,
M"`@("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,#`P,#!$,#`P,#`P,#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,`0T+"PT.#1`.#A`4#@X.%!0.#@X.%!$,#`P,
M#!$1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`S_P``1"`"@
M`)0#`2(``A$!`Q$!_]T`!``*_\0!/P```04!`0$!`0$``````````P`!`@0%
M!@<("0H+`0`!!0$!`0$!`0`````````!``(#!`4&!P@)"@L0``$$`0,"!`(%
M!P8(!0,,,P$``A$#!"$2,05!46$3(G&!,@84D:&Q0B,D%5+!8C,T<H+10P<E
MDE/PX?%C<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-UX_-&)Y2DA;25Q-3D
M]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$``@(!`@0$`P0%!@<'
M!@4U`0`"$0,A,1($05%A<2(3!3*!D12AL4(CP5+1\#,D8N%R@I)#4Q5C<S3Q
M)086HK*#!R8UPM)$DU2C%V1%539T9>+RLX3#TW7C\T:4I(6TE<34Y/2EM<75
MY?569G:&EJ:VQM;F]B<W1U=G=X>7I[?'_]H`#`,!``(1`Q$`/P#U5))))2DD
ME&RQE;'66.#&,!<][C``&KG.<?S6I*9+*ZQ]9>C]'!&7=-T2,>OW6'^Q_@_^
MNNK7(_6;Z_6WEV'T5QJIU#\OA[O^)_.I9_PG\]_Q2Y/"P\KJ6;7BXX-F1>Z!
M)[_2<][OY/TWJIEYL`\.,<1VOI]'H.1_XO&4/>YR1PXP.+V]LG".N24OYM["
MW_&#U?J&2W$Z-A-%EIVUA\V6'ONVM].NOV_3W>IL70=+Z/UNPUY76^I6V6M.
M\8N.154/Y%SJ!6Z__P`]_P#&H_U=^K>%T/&#:P+,IXB_((U<>=K/W*OY"CU[
MZU=,Z&6UY!=;DO&YM%8DQK#WN=M8QNB?&)B./-/Z74(_]\ULV;'ER?=OAG+`
M1U'N</N<QE_>E[F3BEBQNRG7$8_^,[$=9&3@65U_O5V"QW^8YM/_`%:ZGI?6
M^E]6KWX.0VT@2ZOA[?Z]3H?_`&OH*2&;'/2,@6GS/P[F^6'%FPRA'][2</K/
M'Q18=5Z-7U$;VY&1B9#1M9?CVN80-=',:[TW_2_=W_\`"+C^I9?UU^K#PZS)
M^WX,^VZQN]IU@-O=_/TO_P"O;/W+'KT%!RGXK:2W++/1M(J+;(+7E_L%6UWT
M_4G;L0R8A+42,)?O`_\`27\GSTL1&/)BCS.$Z>UDB)R_ZE/YH/+=&_QA]/RW
M-IZDS[%:8`MG=428'N=].G^W^C_X9=:QS7M#V$.:X2UP,@@\$+S#ZX?5)W1[
M/MF&"[IUKHCDU./^#?\`O5._P5G_`%NW_AJGU<^M>?T.T5R;\%Q]^,X\29WT
M'_!O_P"A8H(\S.$N#,/\(.MG^"\OS6`<S\.EOK[,CU_2AQ2_F\G]6;ZXDJG3
M.IX75,1N7AV"RIVA_>:X?2KL;^98U6U;!!%C4%YV<)0D8S!C*)J49:2B5)))
M(K5))))*?__0]522224LO-OKQ]:79V0[I>%8?L5)BYS>+;&G_I4U._SW_I/]
M$NI^NW6W=*Z064N+<O,)JJ(,%K?\-:W^HWV?\98O*%3YO,1^KC_A?]Z]+_Q=
M^'"7],RBQ$\.`']Z/S9?\'Y8+KU+ZD_5T=)P!E9#(SLMH+]PAU=9]S*-?<W]
M^[^7_P`2N+^I72&]3ZW7ZK=V/BCU[0>#M/Z*LS^]9^;_`*->L(<GBWR'RC^T
MK_\`C)SY'#R<#5@3S>7^3Q_]V\-]>/K9FXN6[I'3GF@UM!R;VZ/E[=[:JG?X
M-NQS'^HS])_Q?^$X6Z^_(M==D6.NM?\`2LL<7.,:>Y[O<NI_QA]*MJZPW/K!
M?5G-:V1K%M8%7IZ?\&VO;_UQ`SOJ6>F],;E]1ZA3BY3Q+<5P+I.DUBRLO<][
M9]_IT65_\)^>HLPRSR3O40^D8Q_1;WPS)R7+\IRW#4<G,1X?3$SRY<W^6^02
MGZ)_XC1R>F8P^K>+U6#CY+[G4>F72+F-!=]JJ:?=7L=^AM_P7_%_0655=;18
MVVE[JK6&6/82UP/BUS?<U,Y[W;0YQ<&C:V3,#G:W[U%02()%"J`^WNZF/'*,
M9"<O<XI2EK^C"9TQ_P""[]7UY^LU=7IC+#H$![ZV.</[19[O[:Z3ZI=+ZMU+
M*9U_KEMEH;+L*JSB7#^D,JTKJJV_S6RO])_/?Z/U//%ZY]4.LNZOT6NVT[LF
M@^C>>Y<T#;9_URMS-W_";U9Y8F<ZG(GAUC$G1Q/CF,<KRQERV''C]T^WFRPA
M&.2,)](\/^<^6;K9>)CYF-9BY+!93<TM>P]P?^I=^ZY>-=8Z;;TKJ5^!:=QI
M=#7<;FGW5O\`[;"O:UP_^,OI@=3C=58/=6?L]T2?:Z;*7?NM:Q_J?]O*?F\?
M%#B&\/\`HN9_Q=YPXN9]B1_5Y]/[N6/R2_POD>4^KO7\KH><+ZI?0^&Y%'9[
M?_2C/\&]>N86;CYV)5EXKQ91<W<QP_$'^4UWM>O#EUW^+_KQP\[]EWN_5LQW
MZ(G\VZ/;_P!OQZ?_`!GI*#E<_#+@E\LMOZLG5^/?#!FQ'F<8_78A<Z_RN*/_
M`'>-]*23)+0>.722224__]'U55\/.QLT6NQG^HRFPTN>!H7-#2_8[\]K=VW<
ML'Z\]>?TOI@Q\=Q;EYLL8X&"Q@_GK!_*]WIL_P"W/\&M'ZL8K<3ZOX%+>]+;
M'3^];^G?_P!*Q1^Y>0P'Z(N7_<AMGE##DX\S.Q[L_;PQ[QA_.Y/\;]7%X'_&
M!U`Y?7WT-,U8;&U-@R-Q'J6N_K;G>G_UI<TCYN2[+S+\IPAV1:^TCS>XO_[\
M@K+R2XIREW+WG*8!@Y?%A'^3A&)_O?IG_&?1O\6N$*NE9&81#\FW8#XLK'M_
M\$LM78'4>'FL+ZCMCZK87GZI^^VU;RU,`K%`?U0?\;5X7XID.3GN8D>F24/I
MB_5Q_P"@\%^UL_HF`SHV;TAV7?A6$X606DU.<'&RC(9##[V;_P#!NW_X-_IK
M)ZAB=8./;]9.MTN=<ZQM6-1<SVM)W.]6VA_T<>G9MIH?_/7/_3>I5^CR?4U"
MZFJ^MU5S&VU/$/8\!S2/!S7>U1RY<D5QF@/2*_Q>+]YMX?C,<<N*/+QC/)+B
MSS$I<602/%ECB$OYCW?TGR+(^K/4JNCU=:!KNQ;1N>*G2ZL$[?TC6C;]+Z>S
M^:_PBQU['U7&P<'ZO]0KHHKHH^SW$UUM#`26%O#1])R\<5/F,0QF('4:^;T7
MPCXA/G(9I2%"&2H&N']7+U1C+^M!2[G_`!871;U"@G5S:G@=O:;&N_\`/C%P
MR[S_`!84'_*&21I^BK:[_MQ]@_\`/:7*W[T?K_T4_'2/]'9[_J5_>]R#WBR_
MK/B#,^K^=1R?2-C?ZU?Z9G_2K6HHO:U[2UPEKA!'D5IR%Q([BGA\.0X\D,@W
MQRC,?X!XGPE2KL?58VRLEKV$.8X<@@RUR>VLU6OK=RQQ:?D84%C/I6A'<%]J
MQ[:NL=&9826,S:!N+#JTO;[MKOWZG+.^J?7+NHT786=#>I]/<:L@?O@$L]7_
M`#F[+?Y?_&H'^+W*-_U<961_1K;*@?&8R/\`T>N:ZIG.^K_U[NRZP12Y[77-
M'YU=S6/R/:"W=[W/L9_PK%HRRU'%DZ2],_\`"_[UXS%R`R9>>Y(#UXN++RY_
MV4N'@_ZMCG%]+24/4K]/U-P].-V^=-O.[=^ZDK+C4>W@_P#_TH_7O..7]8KV
M`RS%:VAGR&^S_P`%>]>BXSRSZNU/;RW#:X?$52O)NM/%G6,^P00_)N<".-7N
M*]1Z!8,_ZJXH;^?B^C\V`XSO^DQ4N6EQ9<O<ZO3_`!G",7)<@*]&,QA+_"A_
MZ!)\A3IDE2>G?5/J!D,M^K5%;><>RRM_Q+C?_P!1<U=(N!_Q9]0BS+Z:]WT@
M+ZAVD?H[O_1*[Y:O+RXL4?`</^*\#\8PG%S^<'].7NC_`*K^L4F65]9*^K?L
M\Y/2+',S,4^H*VC<+&P192:S+7^WWU_^!KA[?\8WU@?46-;CU.(@6L8XN'F/
M4LLK_P#`TLF>.,U('P\5<G\*S\Y#CP2@:/#.,I<,L?;B_JR>@_QA]9KQNF#I
M;#.1F07@<MJ:=VX_\98S8W_KJ\U1<G)R,N]^1DV.MNL,OL>9)*$L[-E.29EL
M-AY/8_#>1CR?+C$#Q2)X\DOWLDE+U3Z@89QOJY4\S.58^X@]M?1;_G,IWKRM
M>R_5M[']`Z<:R"/L]8,>+6AK_P#IA3<D/UA/8.=_QFR$<IC@-IY/5_@1EHZ:
M9.AY%S,?'MR+/H4L=8[X-&XK0>0`)(`U)T?%>JD'J>86F0;[2"/#>Y55)[G/
M<7N,N<22?,J*Q2;)+Z7"/#&,?W0!]CZ'_BQM)P<VK\UEK7#7NYNTZ?\`6UA_
MXQ-G_.([3KZ->_X^[_ONU;7^+!I^RY[H]ILK`/F`^?\`JES7UTRFY/UES',.
MYE1;4/(UM:RP?]N^HK<S_18>)_[YP>5A?Q[FB-HPL^<HXGI/VV?_`!NM^_\`
M3[?L/_2]/;_6^Q^Y)<K]J/\`S6^R:1]O]7S_`)G9PDF^\?\`QKA^O=D_T9C[
M?^#O?_ZG_F_[C__3RNML]/K.>SLW)N`[</<NT_Q:]4#\;(Z78??2?7I!_<=#
M;6C_`(NS;_V\N?\`KYA'%^L=SXAF4UES/F/3?_X)6]9/2NI7]+ZA3G4:OI=)
M;V<T^VRL_P!=BS(R]K.2>A(/]U[K-@'/_"X1C\T\<)XSVRQCM_ZCDOUK#^Q=
M6S,0-+6TW/:P']R9J/\`:KVJDNF^NGV3.MQNO8!W8^<S9;/TF75@-].T:[+/
M2]/V_P#!^HN9462/#,@;7I_=/RMSDLIR\OCG($3X>')&7S1RP]&6)_PV[T;J
M=O2NI8^?6-WHN][/WF'VVL_M5E>S8V33E8]>3CN%E-S0^MX[M(D<KPQ=?]1_
MK6SI[ATOJ#]N'8Z:+7<5/)U:_P#=HL_>_P`'9_UQZGY3,('AD?3+\).5\?\`
MALN8QC/B'%EPBI1'S9,7A_6QOI*\D^N69T[*ZY<<"IC&5DLMM9_A;)/JV_N?
M2]N__"_SJ]%^M'4'].Z#EY-1VV[-E;AH0ZPBIKV_RF;]Z\=4G.SVA_A%J?\`
M%CE;.3FB30_4P%Z$_-,R_P":I)))4GJ%+O?\7_UCQZ\?]C9CQ6\/+L1[B`TA
MYEU']?U/>S_2>HN"7<_4>CH75\"SIV=ATORL8EXLVAKWU//TC:PBU[JK';/Y
M#/14W+&0R#A(!KK^E_5<SXW'$>2E[L)2@)1/%CKCQ=LO#+YOW7OES/U_ZL,'
MHIQ6&+\\FMOE6V#>[CS;5_UU;8&!T?IY+GFG$QFR76/>_:W]T.M=99_)KK_L
M5KR?ZQ=:LZUU2S,(+:A[,>LQ+:V_1F/SG?SCU<YG+P8Z_2EI_%YWX'R'WCFQ
MDHG!@/'Q2'#QS'\W#]+^_-RTDD2BFW(NKHI:7VVN#&-'=SCM:%FO:D@"SH`^
MA?5&YG1?J;?U2^"'OLN:."2-N-55/\NVO_P1>>7767VONM<7V6N+WN/)<X[G
M._SET/UJZS593C="P+`_!Z<UK'VM&EMK!L=9_49[O^,?O?\`Z)<VILTP>&`V
MQBO\+])S?AG+F)S\UD%9.;F<@!^:&#_(P/\`6X?F=+[(?^;OVS;I]L]'?_UK
MU-J2Z3]BN_\`&Z]3:?5]3[=M\I]#=_["_I$D[V3V_P`GQL7^D8?O?^#?NW\O
MZC__U.J_Q@]&.;TMN=2V;\"7.`Y-3OYW@?X.&V_\7ZR\S7NKVL>TL>`YK@0Y
MI$@@\@A>/_67HEG1>JV8T'T'_I,9YUFLGVC^O7_-O5'G,5$9!UTD]7_Q;YX2
MA+E)GU0N>+Q@?GA_@R];FB^X4NH#R*GN#W5S[2YLAK]O[S=[D-))4WHP`+H;
MJ22224WG]:ZF_IG[+LO+\,.#FUN@ENWZ+6/^GL_X-44DDB2=S=:+88X0O@B(
M\1XI<(X>*1WE_>4DNJJ^I6-;TUG56]6K9@OXMLK<R/=Z6UXW^UWJ^Q"'U/Q[
MRUF%UK!OL=H&.?L))[!H]5RD]C)IIOJ-8M0?$^4-^L^DF,OU>4"$X_-&1X/3
M*+S2M],ZED]+SJLW%,6U&8/#@?IUO_D/:C]7^K_5>CN`SJ=K'F&6M(<QQ\-[
M?HN_D/\`>LU,J4):W&0;,98L^.XF.7%D!&AXX3B?F#M_6/ZTYW7;&M>/0Q*]
M:\9ID;O])8_V^I9_U'_;BQ$DDI2E(W(V2K#@QX,8QXHB$([1"E.JVRE^^IQ8
M\`@.&AU&UW_1*@D@R$`BCK:E;Z5TZWJ?4:,"GZ=[PTG]UH]UEG_6ZPYZJ+TK
MZD=!'2,"SJN?%-][-WO,>E0/TGZ3]QUFWU;/W/T?_"*3#B.28'Z(UD?!H_$^
M>'*<O*>^67HPP_>R'P_J/3_8\?[']AV#[-Z?H^GV]/;Z>S_,27._MG*_97_.
M'>[[']N]3TM?Z)'[.V[-WTM_Z[L^AZJ2T?<AVZ<7_4_WO[KQWW+F/W_\I[>Y
M_P!V_P"9_P!K_7?_U?1F]8Q/VL_I%DU908VVD/@"UA'N-)GZ5;FOWU_^I%7^
MLW0*NN=/-'M9DU2_&M</HN_<<1[O2M_PG_;G^#65]?\`HUF5@U]4Q9&3@>YY
M;H[TOI.<W;[MU#_TO]3UEC="_P`8F3C-;C]78[)J&C<AD>J`!_A&G:R[\WW[
MF/\`^-5>>6(D<>4>F7RRZ<+L<MR&6>''SO(2O+B-9<5^N.6'Z4/WX9(>KVWD
MLK%R,3(LQLEAJNI<6V,/((^""O2NL8GU;^MN.+,+,J9U!@BEY.UQC_!74OVV
MNK_E[/T?_@=G!=3Z/U+I5WHYU#JB20Q_+'Q'\U8/8_Z2I9<)AJ/5#I(?M>GY
M#XC#F`(9`</,Q^?!D'!/^]C$_F@TDDDE$WU))*Q@TX]^4RK)O&+03^DO+2_:
M`)TK9[WN_-:D!9I$I"(,C=`7H.(_2,?F>TL__)>SY?\`MRN$7IAIZ$/J.RJS
M(N=TH1^L-;%A_3_Z-S'?X;^1_-K(Z9]7_J=G[STZ^_.R:@7-PKK!1ZD?F[O1
M8[_MM_\`75K+B,CC`,?DB-_R<'D.?QX(<W*>/+PGFLT^(8SPQXN'TY)RX8XI
M?[1M56NS?\7%EG43N]-KA38[D[+-F/[OZ_Z!>?KH/K+U[J>1'2+<8=-Q<0@#
M";S[1^C]2S3U&_G5[/T?^$7/J+/,2,0->"(@2?TB&_\`#.7GBQY9RJ/WC++/
M#'`\<,<,GRQXH^C_`!%)))*)T%))+6P^MT=-:QW3\*L98'NR\@^L\.]OOQJ]
MM5%'T?\`1W6_\*B`#N:69)3B/1#W)'QC"/\`ARE^C_<A-Z#ZM?52G!K'6_K"
M6X]-,/JHMT@_FOO:?SO]'C_3W_YBI_6GZV7]=N'3>FM<,)SPT"/?>^1LW-_T
M>_\`FJO^N6?\%@=0ZIU#J5HMSKWWO$[=QT;/.Q@]E?\`872_XO>@G*S#U;(;
M^@Q3%`,0Z[][_K#?=_QOI_N*>,N.L6(<,9?-+]*7]YR<^$<OQ_$.=F,V;&/U
M...F##+]"&*,O5.?%_E'M/V*S_F[^QI']&]#?VW[8]7_`+=_2)+326AP1[=.
M'_!>0^\Y?WO\I[__`%;]]__6]4(!!!U!T(*\L^N'U6LZ/DG)Q6EW3KC+#SZ;
MC_@7_P`G_1.7JB'=35?4ZFYC;*K!M>QPEI![.:5%FPC)&CH1\I;WPWXCDY+-
MQQ]6.6F7'^_'_OXOAB<V/+0USB6MX:3H)\%V_7/\7-@<Z_HKPYIU^R6&"/Y-
M-SOI?]>_[>7(9G2^I8+MN7BVT&2)>P@&/W7_`$7_`-E9T\4X'U#Z_HO:\K\0
MY7FH@XLD3+]R7IRQ_P`!JI)*==5EK@RICGO.@:T$DGX!1MLFM2P24[:;:+'5
M7,=7:PP]CP6N!\'-<H)*!!%C6WO+/_R7L^7_`+=+AZ+[L:YE]#S7;60YCVZ$
M$+H+/K;0_HIZ(WIX9A[8;%SB\.W>KZF]S/=^F_2;5SBES3!,.$WPPC'_``HN
M?\.Y?)CCS(S0X?>YC)FB)&$KQYOWN"4_\)]!?3B?7CH?VEK6T]:PQL.T\GZ0
M8_\`[KY'TJO]!;_UWU>`MJLIL?5:TLLK<6O8X00X&'-<%9Z5U7-Z3EMS,)^R
MQNCFG5KFGZ5=C?SF.6AUKZQ8G6-]U_3:J\U[0W[56]X/M[NK^A9[?;^D1G*.
M2(D3PY!\W:?_`*$MY;!GY3++%"/N\G,\6*I1X^5E+YL=9)>K"X:22M]+Z9D=
M4RQB8SF"YP)8VQVW='YK#^_^<H0"30W+H3G&$3.9$8Q%RD=HAJ)+K,?_`!;]
M<L(-UM%#9]TN<YT>36,V_P#@BW^F_P"+GI&,0_-L?FO'YI_1U_YC";/_``53
M1Y7++]&O[SG9_CG(8@?UONR_=Q#C_P"=_-_\]X_ZM?5?+Z[D2`:L*L_IL@C_
M`,"IGZ=O_GO_``B]7Q,3&PL:O%Q:Q512-K&-X`_[\YWTGO\`SU.JFJFMM5+&
MUUL$,8P!K0/!K6^UJFK^'!'&.\CO)Y7XG\4R\],6.#%#^;Q7_P`^?[TU)))*
M5SG_U_54DDDE++*'UHZ*VY^-DY`Q,FMQ;93D`UEI_K._1.8]OO8]EGT%JK)Z
M]]6NF]<K'VEI9D,;MJR6?3:.=KO])7N_,=_UOTTV?'5PJ^TNK/RWW<SX>8XX
MP/Z>+YL9\82^>"',^L_U5QP7V9--KO"H>J3_`-MARY+KGU_RLIAQND5G!H(@
MW:"XB/S=GMH_L;W_`/"*EU;ZC==Z>2ZJK[;1.EE`+G<Z;Z/YW_,]1G_"+`>Q
M['%CVEKFF'-(@@^85#-GS?*1[?E_WSU?P[X5\.-9<>3[W6W'(2C#_J7_`*M6
M)+B23).I)3)VM<]P:T%SG&&M&I)/8+I>E_4+K.;C69%[?L8#'&FJT18]X^@P
MUG;Z+'._PEG_`&VH(0E,U$$NMGYK!R\1+-DCC!T'%U_NQ>923D$$@B"-"#S*
M9-9E)+I/J#T^G-ZZ?78VVJFFQY8\;FG=MHVN:X%KO;<NDZI_BXZ;D.-G3K78
M;CS41ZE?]G<?49_GO4T.7G.'''76J<WF?C'+<MS/W?-Q1](E[E<4/5^C+A];
MYNI,<YC@]A+7-(+7`P01P05U;_\`%KUP$[+\9[>QW/!_\](E'^+/JKG?K&51
M6WQ9O>?\US*?^J0^[Y?W"O/Q?X?5GF(5]3_S6/2?\8W4<6IM/4*1FM:`&VAV
MRR/^$.U[+?;_`":UV70^N9'6!Z[,%^/A1[;[G`%[M-*J6M.^O_AMZS^E?4#H
MN"X6Y.[.M'^E`%8/_$#Z7_776KIAH('"O889@/UDM/W=S]9/+?$^9^'3D?NF
M#U2^;+Z\</\`J>'B_E_FUTDDE.Y*DDDDE/\`_]#U5))))2DDDDE+*%M-5PVV
ML;8WP<`X?])$224"0;&B.JBBD156RL'G8T-_ZE33I))))U)M\L^O71'=.ZN[
M*K;^JYQ-C".!9_AZ_P#._2_]<_X-<TO:NL])QNK]/LP<@0'ZUV1)8\?0M9_5
M_P"H_1KS'$^J75+>N_L>YGI%AW77"2P53_/UNCW^I_@?^$_G/3_2+.YC`1.X
MBQ,Z?WGL?@_Q;'DY4QSS$<G+1]9E^GAA\N3_`+F;U?\`BWZ::.FW=0>(=F/V
MU_\`%UR-P_K6NL_[;5C*/5,5F:[&S;[[Z,NK'QJ[BPM=->/E^F_94SWW/MLQ
M]RZ3'QZ<:BO'H;LII:&5L$F&M&UH]WN1('AY_-7(XJA&(-</4>+SF7X@<G-9
ML\H"8RD$0F(FHXY1]L?I?Y./!)Q>@]4OZCGY]A<[[(YM-F$QP`(J=ZU6^-K7
M_I[,=UWO_P`'Z:VTP`'`A.I(@@439[M3/DC/(90A[<:C$0W^2,8;^GU2X?4I
M)))%C4DDDDI22222G__9.$))300A``````!5`````0$````/`$$`9`!O`&(`
M90`@`%``:`!O`'0`;P!S`&@`;P!P````$P!!`&0`;P!B`&4`(`!0`&@`;P!T
M`&\`<P!H`&\`<``@`$,`4P`S`````0`X0DE-!`8```````<`!`````$!`/_A
M$"9H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O`#P_>'!A8VME="!B96=I
M;CTB[[N_(B!I9#TB5S5-,$UP0V5H:4AZ<F53>DY48WIK8SED(C\^(#QX.GAM
M<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z;65T82\B('@Z>&UP=&L](D%D;V)E
M(%A-4"!#;W)E(#0N,2UC,#,V(#0V+C(W-C<R,"P@36]N($9E8B`Q.2`R,#`W
M(#(R.C0P.C`X("`@("`@("`B/B`\<F1F.E)$1B!X;6QN<SIR9&8](FAT='`Z
M+R]W=W<N=S,N;W)G+S$Y.3DO,#(O,C(M<F1F+7-Y;G1A>"UN<R,B/B`\<F1F
M.D1E<V-R:7!T:6]N(')D9CIA8F]U=#TB(B!X;6QN<SIT:69F/2)H='1P.B\O
M;G,N861O8F4N8V]M+W1I9F8O,2XP+R(@>&UL;G,Z>&%P/2)H='1P.B\O;G,N
M861O8F4N8V]M+WAA<"\Q+C`O(B!X;6QN<SID8STB:'1T<#HO+W!U<FPN;W)G
M+V1C+V5L96UE;G1S+S$N,2\B('AM;&YS.G!H;W1O<VAO<#TB:'1T<#HO+VYS
M+F%D;V)E+F-O;2]P:&]T;W-H;W`O,2XP+R(@>&UL;G,Z>&%P34T](FAT='`Z
M+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]M;2\B('AM;&YS.F5X:68](FAT='`Z
M+R]N<RYA9&]B92YC;VTO97AI9B\Q+C`O(B!T:69F.DEM86=E5VED=&@](C$W
M-"(@=&EF9CI);6%G94QE;F=T:#TB,3@X(B!T:69F.D-O;7!R97-S:6]N/2(Q
M(B!T:69F.E!H;W1O;65T<FEC26YT97)P<F5T871I;VX](C(B('1I9F8Z4V%M
M<&QE<U!E<E!I>&5L/2(S(B!T:69F.E!L86YA<D-O;F9I9W5R871I;VX](C$B
M('1I9F8Z6%)E<V]L=71I;VX](C,P,#`P,#`O,3`P,#`B('1I9F8Z65)E<V]L
M=71I;VX](C,P,#`P,#`O,3`P,#`B('1I9F8Z3W)I96YT871I;VX](C$B('1I
M9F8Z4F5S;VQU=&EO;E5N:70](C(B('1I9F8Z3F%T:79E1&EG97-T/2(R-38L
M,C4W+#(U."PR-3DL,C8R+#(W-"PR-S<L,C@T+#4S,"PU,S$L,C@R+#(X,RPR
M.38L,S`Q+#,Q."PS,3DL-3(Y+#4S,BPS,#8L,C<P+#(W,2PR-S(L,S`U+#,Q
M-2PS,S0S,CLS1CDS-#9%,D(X-$8V,#0Y,4,T,#DW,3$P141$.3@T-2(@>&%P
M.D-R96%T941A=&4](C(P,3$M,#0M,C54,C(Z-#$Z,3$M,#0Z,#`B('AA<#I-
M;V1I9GE$871E/2(R,#$Q+3`T+3(U5#(R.C0Q.C$Q+3`T.C`P(B!X87`Z365T
M861A=&%$871E/2(R,#$Q+3`T+3(U5#(R.C0Q.C$Q+3`T.C`P(B!X87`Z0W)E
M871O<E1O;VP](D%D;V)E(%!H;W1O<VAO<"!#4S,@5VEN9&]W<R(@9&,Z9F]R
M;6%T/2)I;6%G92]J<&5G(B!P:&]T;W-H;W`Z0V]L;W)-;V1E/2(S(B!P:&]T
M;W-H;W`Z2&ES=&]R>3TB(B!X87!-33I);G-T86YC94E$/2)U=6ED.D,Y-#)"
M-3E!044V1D4P,3$X,#<Y03DW-#0T,$(Q.3`Q(B!X87!-33I$;V-U;65N=$E$
M/2)U=6ED.D,X-#)"-3E!044V1D4P,3$X,#<Y03DW-#0T,$(Q.3`Q(B!E>&EF
M.E!I>&5L6$1I;65N<VEO;CTB,3<T(B!E>&EF.E!I>&5L641I;65N<VEO;CTB
M,3@X(B!E>&EF.D-O;&]R4W!A8V4](BTQ(B!E>&EF.DYA=&EV941I9V5S=#TB
M,S8X-C0L-#`Y-C`L-#`Y-C$L,S<Q,C$L,S<Q,C(L-#`Y-C(L-#`Y-C,L,S<U
M,3`L-#`Y-C0L,S8X-C<L,S8X-C@L,S,T,S0L,S,T,S<L,S0X-3`L,S0X-3(L
M,S0X-34L,S0X-38L,S<S-S<L,S<S-S@L,S<S-SDL,S<S.#`L,S<S.#$L,S<S
M.#(L,S<S.#,L,S<S.#0L,S<S.#4L,S<S.#8L,S<S.38L-#$T.#,L-#$T.#0L
M-#$T.#8L-#$T.#<L-#$T.#@L-#$T.3(L-#$T.3,L-#$T.34L-#$W,C@L-#$W
M,CDL-#$W,S`L-#$Y.#4L-#$Y.#8L-#$Y.#<L-#$Y.#@L-#$Y.#DL-#$Y.3`L
M-#$Y.3$L-#$Y.3(L-#$Y.3,L-#$Y.30L-#$Y.34L-#$Y.38L-#(P,38L,"PR
M+#0L-2PV+#<L."PY+#$P+#$Q+#$R+#$S+#$T+#$U+#$V+#$W+#$X+#(P+#(R
M+#(S+#(T+#(U+#(V+#(W+#(X+#,P.S0T,$9&-SDV1D(W1C(P1D%!-3%&03-#
M,S,X-T8X13!!(CX@/'1I9F8Z0FET<U!E<E-A;7!L93X@/')D9CI397$^(#QR
M9&8Z;&D^.#PO<F1F.FQI/B`\<F1F.FQI/C@\+W)D9CIL:3X@/')D9CIL:3XX
M/"]R9&8Z;&D^(#PO<F1F.E-E<3X@/"]T:69F.D)I='-097)386UP;&4^(#QX
M87!-33I$97)I=F5D1G)O;2!R9&8Z<&%R<V54>7!E/2)297-O=7)C92(O/B`\
M+W)D9CI$97-C<FEP=&EO;CX@/"]R9&8Z4D1&/B`\+W@Z>&UP;65T83X@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`\/WAP86-K970@96YD/2)W(C\^_^X`#D%D
M;V)E`&0``````?_;`(0`!@0$!`4$!@4%!@D&!08)"P@&!@@+#`H*"PH*#!`,
M#`P,#`P0#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`$'!P<-#`T8$!`8
M%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,#!$,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`P,#`P,_\``$0@`O`"N`P$1``(1`0,1`?_=``0`%O_$`:(````'`0$!
M`0$```````````0%`P(&`0`'"`D*"P$``@(#`0$!`0$``````````0`"`P0%
M!@<("0H+$``"`0,#`@0"!@<#!`(&`G,!`@,1!``%(1(Q05$&$V$B<8$4,I&A
M!Q6Q0B/!4M'A,Q9B\"1R@O$E0S13DJ*R8W/"-40GDZ.S-A=49'3#TN(()H,)
M"A@9A)1%1J2T5M-5*!KRX_/$U.3T976%E:6UQ=7E]69VAI:FML;6YO8W1U=G
M=X>7I[?'U^?W.$A8:'B(F*BXR-CH^"DY25EI>8F9J;G)V>GY*CI*6FIZBIJJ
MNLK:ZOH1``("`0(#!04$!08$"`,#;0$``A$#!"$2,4$%41-A(@9Q@9$RH;'P
M%,'1X2-"%5)B<O$S)#1#@A:24R6B8[+"!W/2->)$@Q=4DP@)"A@9)C9%&B=D
M=%4W\J.SPR@IT^/SA)2DM,34Y/1E=865I;7%U>7U1E9F=H:6IK;&UN;V1U=G
M=X>7I[?'U^?W.$A8:'B(F*BXR-CH^#E)66EYB9FIN<G9Z?DJ.DI::GJ*FJJZ
MRMKJ^O_:``P#`0`"$0,1`#\`]4XJ[%78J[%78J[%4KU[S/Y?\OVOUK6;^*RB
M->'J-\3TZA$%7<^R*V5Y,L8"Y&G,T?9^?4RX<,)9#_1_WTOIC_G/*?,7_.2V
ME0,T6@:9)>$;"YNF]&.OB(UY.P_UFCS6Y>U(CZ1;VNA]@LLM\\QC_H8_7+_3
M?3_NU3RO>_G5YY5+Z:^C\M:%)NLD-NOJ2J?]\K)SEI_Q89$7^7U,.&6HS;WX
M</<P[0Q=D=G>@0.KSC^=/TP_X9P<,/\`,X)?YKUG1],_1NGQ6ANKB]9/MW5W
M(99G8]2S&@_V*A5S90APBKOWO$ZK/XLS/AACO^#''@A%&Y-QW8JPGSC^75WJ
MTSZAHFO:AHFJ'?\`<W$QMG/@\08<:T_W7\/_`!6^8F?3&6\92A+W^EZ'LOMR
M.`#'FQ8M1B_I0AXL?ZN3A_W?^GB\GU/S]^='D&_6UUUUO;<G]Q)<QB6&4#J4
MG01R$_Y+OS7]I,UL]3J,)J6[VVG[&[([2AQ8!X<OXO#/!DA_6Q2XX?Z6/#_2
M9MY1_P"<AO*^JNEMK<3:-=-11*Q]6V)_XR`!H_\`9KP7_?F9>'M*$MI>@_[%
MYWM+V)U.$&6$_F(?S?HR_P"E_C_S9<7]!ZI!/!<0I/!(LT,@#1RHP964]"K"
MH(S8@@\GC)P,28R'#(="J86+L5=BKL5=BKL5?__0]4XJ[%78J[%5KNB(SNP5
M%!9F8T``ZDG%(!)H/$_S%_YR"AM7ETSRCQGF4E)-6<!HE(V/H*=I/^,C_N_Y
M5D7XLU&I[2K:'^F_XE]"[#]BC,#)JO3'_4/X_P#DK+^#^I'U_P!5X3J6J:EJ
MMZ]YJ-S+>7<I^.:9B['P%3V\%S3RF9&R;+Z1@T^/#`0QQ&.`_ACZ7N7Y2?DA
M$D<&O^:K?G,U)+/2I1\*CJLDZGJWA"WV?]V?%\*;?1Z#^*?^E_XI\Y]I?:TD
MG!I3MRR9X_[G%_U4_P!)_.EW'914T``^BF;A\ZYL5U#\U/R]T^<P7.NVWJK4
M,(BTP!'4$Q!P,QI:O%$T9!W6'V=U^6/%'%.OZ7[O_=\*;Z)YH\NZXA?2-2M[
MX+NZPR*S+_K)]I?]D,MQY83^DVX.K[/SZ<UEA/'_`%A_OOI33+'#=BJ"UC1M
M+UG3Y=.U.V2ZLYA22*0;?,'JK#]EE^)<A.`F*(L.1I=5DP9!DQR,)Q_B#Y=_
M-3\JKWR;>BYMB]SH-RW&WN6W>-COZ4M*#E_*WV7SGM7HSB-CZ'V/V=]HX:^'
M#+T:B'UP_G_[9C_XG^%+O(GYF^9?)]ROU.4W&FLU9],E8F)J]2G7TG_RT_V?
M/(:?5SQ';Z?YKE=L>S^GUT?6.'+_``YH_7_G?SX_T9?YO"^GO)7GK0/-^F?7
M-+EI*E!=6;T$T+'LR_RG]EQ\+?\`!9T&#41RBP^/]K=CY]#DX,@V/T9/X,GX
M_FLBR]U3L5=BKL5=BK__T?5.*NQ5V*K6944NY"JH)9B:``=23@2!>P?-GYQ?
MG!-K\TN@Z'*8]#B8K<7"FANF4^(_W0/V1_NS[;?LYH=;K>/TQ^G_`'3ZU[+^
MS`TP&?,+SGZ(_P"H?]7?]Q]+R;-:]L]J_(;\L5OYD\V:Q%6T@?\`W%6[C:21
M#0S,#^Q&W]W_`,6?\8_BVW9VDOURY?POG_MC[0'&#I<1]<O[Z7\R'^I_UI_Q
M_P!#^N]G\X><]"\I:4=1U:4JI/&"WC`:65Z5XQJ2/I8_"O[6;7/GCCC<GS_L
MOLK-K<OAXA_6E+Z,<?Z3Y\_,3\\-3\UZ;^BK&T;2K%GY7!68O),@%`CT5`$_
M:9/BS2:G7G(.$#A#ZCV'[(X]%D\6<O&R5Z?3PQQ_TH[R]7])@>@Z!J.O7_Z/
MTU4DO61GA@=UC,A7<I&7(5GIOQKF'CQF9H<WI-9K<>FAXF2Q#^*5<7!_2EP_
MPH=)-2TK4"4::QU"T<J2I:*6.130BHHRL#D;,3W$-ICCS8]^')CF/Z\)Q>J^
M4/\`G(K7].1+;S#;C5K==A=(1%<@?Y6WIR_\(W\SYL</:<H[2'%_NGB^T_8?
M!E/%@/@2_F?7B_XN'^R_JL__`.ABOR]^K^K2]YTKZ'H+S^5>?#_A\SOY3Q5U
M>8_T#Z[BK]W7\[C]/^YXO]BE.E_FSY@\^^8X-`\M6C:5IQ/J:CJ+D/<+;*?C
MXT'"%W_NU/[QN;?"RY5#62S3X8#A'\4OZ+G:CV;P=FZ<Y]1+QLGTXL7^2\;^
M'B_BR1C]<OH]+UG6-(T_6-,N=,U&$3V=TACFC/@>A![,I^)6_9;-E.`D"#R+
MQ.EU.3!DCDQGAG`W%\>^>O*%YY3\R76CW)+I&>=K/2@E@?[#_P#&K_Y:MG,:
MC"<<S$ONW9':<-;IXY8]?KC_`#,G\4?^)_HH/RYYDUCR[JL6J:3<-!=1'>E>
M+K6I21?VT;NO_&V0Q990E<>;?KM#BU6(X\HXHR_V/].'\V3ZQ_+SS_IGG/15
MO;:D-]#1+^R)JT3GH1XQO2J/_P`;*V=)IM2,L;'/^)\3[;[%R:#-P2]4)?W6
M3^?'_BX_Q195F2Z9V*NQ5V*O_]+U3BKL5=BKQ?\`YR"_,-["T'E/39>-U>)S
MU213ND#?9BVZ&7J__%7^3+FI[2U-#@',_4]_[%=B#)+\UD'HQG]S_2R?ZI_R
M3_A_I_U'SSFD?4F0^0O*<_FKS39:/'589&YW<J_L0)O(WSI\*_Y;+E^GPG),
M1=7VSVE'1Z:64\Q]`_G9)?1^/YK[&LK*UL;."SM(UAM;=%B@B7951!10/HSJ
M8Q`%#D^#9<LLDS.1XI3/%*7])\Z_\Y*S7;><M/AD)^JI8*\"_L\GFD#G_6/!
M*_ZJYHNU"?$']5]5]@H1&DF1]1R^K_-A#@_W4GD6:Q[A/O(^NZ=H'F6UUF^M
MY+I;'E+!;Q,$Y3`4CY,:\4!/(T#9=I\@A,2/1UO:^CR:G3RPP(AXGIE*7J_=
M_P`?I_G('S#K5SKFMWVKW*JDU],\SH@HJ\CLH_U1MD<N0SD9'JY&BTD=/ACB
MCO''$02_*W*7($+J';BA(Y,!4@=S3:N*#=;/L'\N/)OESRUY>A717^M+>HD\
MVHG[5QR6JM_DI0_`G[/^MR;.HTN"&./IZ_Q?SGPGMWM34:O.?&'!X9,(XO\`
M4OYW^=_.E_$RO,ETKRS_`)R!\GC5_*@UJW2M]HQ,C4&[6SD"4?[#X9?\E5?^
M;-=VE@XH<0YP_P!R]G[%=J>!J?!D?W>HV_Y*_P`'^F^C_2/F3.??7D\\F^;M
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M_?ZE(8+=B.D$!HU#_ER\N7_&)<WO9>*HF7\Y\J]N^T#//'`/IQ#CG_PS)_Q.
M/_=O8\VCP;R#\V_+]MY^\I)K_EY7N;S1YIXE15/*:)'].947JW%D]2/^9>7P
M_'FKUF,9H<4><7NO9K6R[-U7@9_1#/&$O^%SE'CQ\7^;+@G_`,=2;2=!_+W\
MO?)EIJ?FZPBU+S#J<?K)I\\:RN.0JL:QR52,1@CU96'V_P#8)E4,>+!C!F.*
M<OX7/U.LUW:FKECTLY8=/A/#XL#P1_KRG#U3X_\`)P_F_P"=)Y!YGNH+[43J
M5KHZZ+8W8+6UM'ZC1$*2K,C/LWQ;'TPJ?Y.:S*;-@<`+W79^.6/'X<LGYC)#
MZYRX>/\`SN'_`'_J2C*G.=BKL5?2W_..?F*34/*-SI,S<I-(FXQDFI$$]70?
M0ZR_['-_V9EN!C_-?)/;G0C%JHY1RSQ_Z68_3+_8\#UC-D\2I7=K!=VLUK<*
M)()T:*5#T9'!5@?F#@(!%%GCR2A(2CM*)XH_YKXF\P:1-HVN7^E3;R6-Q)`6
M(IR$;%0W^R'Q9R62'#(Q[GZ%T6I&?##*.62,9_Z9+\@Y+V;_`)QR\XO:ZO<>
M5[E_]&OP9[($[+/&M74?\9(AR_YY?Y6;7LS/4C`_Q/`>W798GB&IB/5B]&3_
M`(7+Z?\`23_W;Z`O[ZUL+*:]NY/2M;=#)/*02%115F-`311NV;J4A$6>3YCA
MPRRS$(#BG,\,?ZRLCHZ*Z,&1@&5E-00>A!R3`@@T5V*'_]3U3BJ0Z;YOT[4_
M,^H:%8`SMI42MJ%VI_=QS.U$A'\ST5R_\G'A]KEPIAG$IF(_A^IV6?LS)AT\
M,\_3XQ_=0_CE"/U9?ZOT\/\`.^K^M"/^<B]=:Q\E0Z;&U)-5N51QXPP_O&I_
MLQ%F'VGDK'7\XO1>PVC\36'(>6"'^SR>B/\`L/$?,V:!]==BK[2\CZ2ND>3]
M&TX"C06D0D'3]XRAI#]+LV=7IX<.,#R?G_M?4^/J\F3^=DE_I;]'^P3S+G7/
M$[[1?S=\D7VI6WE"W34?+]].]S:J521[=I=RH0LC`C_9QMQY?:Y9J98\^$D8
M_5`_[%]"PZOLOM"$):LG%J,<1"?.,<O!_2J7^]G_`+%)O+?Y/^>?-'F1=9\^
M-)':U#SK-(K3S`&HB5(R1#'X_8X_L)E6+19,D^+(Y^O]I]'H]/X.BHS_`(>`
M?N\?^V<4_P"\G_IN+^*3$_*7E6+S7YZN])\UWLFDWQ5UCMP@5S,A`6"-6!2.
M.-/L)_(BI'F-AP^)D,9GA/X]+N^TNT3HM%'+I8C/CV]7^U_ZK/\`BG*<OJE_
M.EQ323SYY)U#R=K\FDWCB9"HEM;E1Q$L+$@-0UXM52K+_-E.HP'%+A+L.Q^U
ML>NP#+`</\,X?S)_CZ6.Y0[5V*O:/^<9+IEU[6K7]F6UCE/SBDXC_D[FU[*/
MJD/)X#V_Q@X,4OYLY1_T\?\`CCZ&S>/EKL5?+?\`SD%I(L?S#FN%6B:E;PW(
MITY`&%OI_=<C_K9SO:4*RW_.#[)[%:GQ-`(_ZE.6/_IY_P!/'FN8#UJ/T#5Y
M]&UNQU6#^]L9XYU`[\&!*_)A\)R>.9C(2'1QM;IHY\,\4N62)A_IGVJRV>IZ
M:58":ROH:$'H\4J_\;*V=9M(>1?GT&>')_-GCE_I9P+R;\E?-US8ZIJ'Y>ZQ
M*6N=,EFCTR5^K)"Q62+_`&-/4C_R.7[*KFLT.8B1Q2_A^E[;VK[,CDQPU^(>
MG-&,LW_)0>C)_O)_TOZSV/-J\&__U>Z?FUYU/E/RC-<V[4U*\/U:P\5D<$M)
M_P`\T!;_`%^"_M9B:S/X<+'U'Z7H/9KLG\[JA&7]UC_>9?ZO\S_/E_L>)CO_
M`#CGI@A\FW>IR$O<ZE>.SR&M2D0"K4GK\9E/^RRCLR%8R?YQ=I[<ZCBU<<8^
MG#C'^S]7^YX&%?\`.3&HM+YGTK3ZU2ULS-3P:>5E/_"PIF)VK+U@=P>A]@<%
M:;)D_GY.#_E7'_JY)X[FK>\5+>(37$41-/4=5KX<C3"!98SEPQ)[GW2````*
M`;`#H!G8/S@3;>*NQ5V*J?H0&43&-?6`H)*#E3PKUP4&7&:J]GSY_P`Y-W$+
M:]HMN*>O':R2.:[\))*)^,;YI.U3ZHCR?4/8"!&#++^$S$?]+'U?[N+QC-4]
M^[%7NO\`SC#8-ZFO:@?L@6]NGN27=_NHF;CLF/U'W/G'_!`S;8L?]>?^YC'_
M`'SWG-R^:NQ5X+_SD]9*)O+]\!\3K<P.?93&R_\`$GS3=K1^D^]]*_X'V7;-
M#^I/_=\7^]>%YIWT=V*OL'\I]2;4?RZT*X8\F6V%N3W_`-'8P;_\B\ZC1SXL
M43Y?[E\)]I-/X6ORQ_I\?_*W][_OW@_YMR77ES\WKG5+!O3G5[>^MSVY>FO*
MM.H9U?EFFUI,,Y(\I/I/LU&.J[*CCGO&IX9?Z8_[WA?0G^--+_P1_BZO^@_4
M_K?"N_+C_=5_G]3]U_KYN_'CX?'TKB?+_P"2LGYS\K_'XGA?]7/ZO!Z_ZK__
MUC#_`)R*U][[SI%I2M6#28%4K7;UIP)'/_`>D/\`8YH.T\EY.'^:^N^P^B&/
M2'+_`!9Y?[#'Z(_[+Q'JWY!_^2RT_P#XRW/_`"?;-CV=_<CXO%^V7_&C/^K#
M_<1>-_\`.0$YD_,FZ0](;>W0;UV,?/Z/MYJ^TC^]/N#WGL7"NSXG^=.?^ZX?
M]Z\XS`>L;!*D,IH1N"-B",4$/N:QNDN[*WNX]TN(TE0CP=0P_7G81-BWYSS8
MS"9B><28_P"E5\+6[%78JT2`"2:`=3BKY"_-GS1%YD\\W]];/ZEE"5M;-QN&
MCAVY#_)=^;K_`)+9S&LR^)D)')]T]F^SSI-%"$MIR_>9/Z^3_B8\,6'YBN]=
MBKZB_P"<>])-E^7D=RPHVI7,USOUXJ1"/^31.=#V;"L5_P`XOCGMMJ?$UYC_
M`*E",/\`I[_T\>F9L'D78J\6_P"<FP/T'HI[_6I17YQYJ>U?IC[WT#V`_OLO
M]2/^Z?/6:1]1=BKZB_YQZN#+^744>_\`H]U/&*T[D2;4_P!?.A[-/[KXOCGM
MM#AUY/\`.A"7^\_WKS/_`)R1C5//MJP-3)IL+,/`B:9?^-<P.U!^]']7];U_
ML)*]%+RS2_W&-9Y>UYKO\AO-6CR-5],GM)(0>T5S=Q&@_P">B2-_L\&/)>FE
M'^;7^RDRUNC$.VL&4?Y:.2,OZ^+%/_>2A_I7_]>-_F'>M>^>M?N&-:W]PBG_
M`"(Y"B?\*HSE=3*\DC_2+[[V)B\/18H_[5#_`&4>*3WW_G':]%Q^7WH5J;2\
MFB(KT#!9?^9F;KLR5XO<7S+VXQ<.NO\`U3'"7^ZA_O'DWY^QLOYEWS-TDAMV
M7Y>DJ_K7-9VC_?'X/;^QDK[/CY2G_NWG68+U3L5?77Y/:T-7_+O2)>59;6+Z
MG*.X-N?36OSC"-_LLZ;19.+$/]*^&^U&D\#7Y!TG+Q8_\E?7_N^)FF9;H$G\
MV:IJFD^7KS4],M%OKJS43?5&)7U(T(,H4J">?I\BGPM\7[.59IF,20+(<[LW
M3X\V>./)+PX9/1Q_S92_N_\`-X^'B>>V7_.27DJ6W5KNSOK>>GQQ*D<BU_R7
MYK7Z53,&/:F.MP7J<OL'K!+TRQ3C[Y0_V/#_`+Z3!_S#_/R^UZQFTK0;=].L
M)P4N+F1A]8D0[%`%JL2L/M49V;^;,34]HF8X8^D/1=B>QD--,9<Y&7)'Z81_
MNH2_G?T_Z/TO(\UCW#L5=BK[1\BVL5IY+T*WB%$2PMOI+1*S'Z6-<ZO3BL<1
M_1#\_P#;&0SUF61_U6?^[*>Y<ZYV*O!O^<GKY2^@6"GXU%Q/(/9O31#^$F:;
MM:7TCWOI/_`_PFLT_P"I#_=RE_O'A6:=](=BKZ<_YQR_\E_)_P`Q\W_$(\Z#
MLS^Z_P`Y\@]N?\>'_"H_[J;RS_G(*\2X_,>XB7K:6UO"WS*^K_S-S7=I2O+[
M@'L_8K$8]G@_SYSG]OA_[QB>@7YAT/S-:$_N[NQAV\7CO[9E_P"%YYC8Y5&0
M[Q_OXNZUN'BS8)=89)_Z6>GS?\=?_]"'>:5=?,^KJ[<W6]N`S>)$K5.<EF^L
M^\OT+V<0=-C(_P!3A_N`]9_YQFUU8M1U?0Y&I]9C2[MU/\T1X24]RKI_P&;+
MLK)N8_%XCV^T=X\>8?P$XY_Y_JA_N9?Z9+_^<E-/,/G"PO@*)=V2J33J\,CA
MM_\`5=,AVI&I@]X<OV#S\6DG#K#)_L9QC_OHS>19K'N'8J]G_P"<;O-:6NK7
MOEJX?C'J`^L60/3UXEI(H]WB'+_GEFU[+S5(P/\`$\![=]FF>*.HB-\7HR?\
M+G]'^EG_`--'T/F\?+78J^</SJ_*:TT'U_,NEW$4.G7$JB33G/%UED/2#LR=
M6]/_`'6O^1]G1:_1B'K'+^;_`,2^K^RGM)+4UI\@E+)&/][_`$(?ZK_2_I?Q
M_P!9Y!FK>Z=BKL5=BKZR_)3S$NM?E]IX9@;G30;&=?#T:"/_`)(F/.ET&7CQ
M#^CZ7Q+VLT)T^NG_`#<O[Z/_`"4^O_I9QL\S,>;=BKY1_/+S"FL_F#>+"W.W
MTQ5L8R.G*(EI?NE=U_V.<WVADXLI_H^E]J]D="<&AC?U9OWW^G^C_I7&+S_,
M)Z=V*OJC\B;5;#\L;2YF(C2XDN+IV;8!0Y3D:_Y,=?\`5SHNSQPX0?>^,^V&
M0Y>T91&_"(8_]CQ?[]\W>;=;.N>9M4U<UXWEQ))$#U$9:D8_V*!1FBS9..9E
MWE]8[-TGY?3PQ?ZG`1_SOX_]DA+'U/JNH\*<?JZ^I7^7ZQ%T_P!EQR$>1_'4
M-^:N*%_S_P#IWD?_T27\U=-;3_S$UZ!A3U+M[A?E<TG'_)S.7UD>'+(>;[O[
M.9QET&*7=`0_Y5?NO]XEGD_S'<>6_,NGZU`"QM)0TD8-.<3?#(G^R0L,KPY3
MCF)=SE]IZ&.KT\\,OXX_Z6?\$O\`3/;O^<@K2VUSR1H_F;3V^L6UO*&69>GH
M7:#XCX?O$B7_`%FS;]I1$\8F/QQ/GGL5DEI]9DT^3TRE'Z?]LP'_`(B4WSSF
MC?4G8JB=,U*\TS4;;4;*0Q7=I(LT$@[.AJ-NX\1DH2,2".8:=1@AFQRQS'%"
M8X9?YS[%\C><+#S;Y=M]6M**[#A=V]:F*91\:'V[H?VDXMG4:?.,D>(/@_:_
M9<]%G.*7+^"7^J8_X9?\5_29!E[K'RU^>?GA_,'FJ33K:2NEZ.S01`'X7G!I
M+)ML?B'II_DK_EYSO:&HXYT/IB^R^R'9`TNF&20_>Y_7+^CC_P`G#_?R_P".
MO-LP'K'8J[%78J]._*RV_-'0DC\Q>7M*;4=&OJI<6XEB*S")RA^`/ZL;HW+@
MY3_@DS8:09H>N(XHEX_VBR=FZDG3Y\GA9L?TRX9?N^./%]7#P3A+^*/%_LGT
M7Y=UU]8L1<2Z?=Z9.*"6UO8FB=3_`))/PNO^4I_UN.;W%DXA=&/]9\JUVC&"
M?")PS1_AGBEQ_P#2/^<E?YE><(?*GE*\U+D!>.I@T]#U:XD!XFG@F\C?Y*95
MJL_AP)Z_PN;V#V6=;JHX_P"#Z\O_``J/_%?1_G/CMW=W9W8L[$LS,:DD]23G
M+ONX``H-8I71QO)(L:`L[D*BCJ2=@,0$2(`LOHC\U/,$7DO\MM.\H6D@&IW=
MI':2<#NL"*%GD/\`QF;D@_FY2?R9O-7D\+$,8^HBO^*?+/9W1'M#M">JF/W4
M)RR?\E+_`'4/^2?U?YL/YSYUS1OJB>Z!8&;0_,UV1^[M+&'?P>2_ME7_`(7G
MEV.-QD>X?[^+K=;FX<V"/6>2?^EAI\W_`!U__]*0?\Y*^7FM]=T[78U_=7T)
MMYR!L)8#523_`)<;[?\`&/-'VICJ0EWOJ?L%K>+#/`>>.7''^ID_XF<?]F\:
MS5/?/3/RV\^V(T2]\B^99>&A:G&\=I>/N+2:3<%O"+U/WE?]UR?$WPLW'8:7
M4#A..?TR_P!B\CV]V-/QHZW3C]_A(E/'_J\(?[_@]'].'])YQ=VTMK=36LM/
M5@=HI*&HY(>)H1UW&8!%&GJ\>03B)#E(<2E@9NQ5E?Y=_F#J?DO6?KEN/6L9
MZ)?V1-%D0'8C^61*_`W_`!JV9.FU)Q2L<OXG2]N=BX]?AX)>F<?[K)_,E_Q$
MOXHOIO\`QYH>H>2M0\R:/=+/#:6DTY7821R1QEA'(AW1ZC_FGDN=!^8C+&9Q
M/(/D'\C9L6LAI\L>$SG&']&492X>.$OXHOCIF9V+N2S,:LQW))[G.6?>`*%!
MK%+L5=BKL5>T?\X[^>DL;^;RK?2<;>^;UM.9CLMP!1X]_P#?J@%?\M/YI,VO
M9FHH\!Z_2\![<=D')`:F`]6/TY?^%_PS_P`S_<R_H/>]4U33]*T^?4=1G6VL
M[92\TSF@`'ZR>BJ/B9LW4YB(L\GS/3Z?)FR#'C''.?TQ?)_YH_F)=>=-=]=0
MT.DVE4TZV;J%/VI'IMZDE-_Y5XK_`)6<WJ]2<LOZ(^E]L]GNPXZ##P_5FG_>
MS_WD?Z$/^/,,S$=^[%61^0Y=*LM>BUK5]]/TC_2C"*<IYDW@A0&N[R`,W[/I
MI(V7Z<Q$N*7*._\`Q+J>V8Y<F`X<7]YG_=\7^IX_\KDE_5A_LY007FKS-J7F
M77+G6-1:L]PWPH/LQQC9(U_R5'_-61S93DD9%R>SM!CTF&.+'],?]E+^*<OZ
MR4Y4YKU30-`:T_(7S1K,BT?5)[5(CXPVUW$H(_YZM*/]AFQQXZTTI?SJ_P!C
M)XS6ZWC[;P81_D8Y.+^OEPS_`-Y&'^F?_]/O_P"9GE%?-7D^]TQ`#>J/K%@Q
M[3Q@E14].8Y1G_)?,;58?$QD=>CN>P.T_P`EJHY#]'T9/^%S_P"(^O\`S7QX
MZ.CLCJ5=2596%"".H(SEWW<$$6&L4NQ5V*NQ5V*JL-W=0+(L$SQ+,O"948J'
M0_LL`?B7V.$$AA/'&1%@2X?I_HJ6!F[%78J[%78JOAFEAE2:%VCEC8/'(I(9
M64U#`CH0<(-,91$@018+(?-OYA>:O-:6\>L7?J06R@1P1CA&7`H9&4?:D;^;
M_@..79M3/)]1Y.K[-[$TVB).*-2G_%+U2_J?U/Q)C>4.V=BKL5=BKL51VB:/
M>ZSJ]II5BG.ZO)5BB'8%CNQI^RH^)C^RN3QP,Y"(YEQ]7JH8,4LLSZ,<>(OL
M+_!NE?X,_P`)T_T#ZI]3Y4^+[-/4I_/S_>?Z^=1X$?#X.E<+X1_*F7\W^:_R
MGB>+_P`<_J\/H_JO_]3U3BKYH_/[R(=&\P#S!9QTTW5F)FH/ACNJ5<?\]0/4
M'^5ZN:#M'3\,N(?3+_=/KGL9VQX^#P)G][@^G^GA_A_Y5_1_5X'E&:U[5V*N
MQ5V*NQ5V*NQ5E_Y?^0(_.5Q-90:M#8ZA$"Z6LR.3)&`*LC+L>)^TOVOVO]7*
MTVF\4T#1=%VUVT=!$3ECEDQG^.!'HE_-E_Q3*;C\A!;736ESYLTN"Z4@-;R-
MPD!8`BJ%@VX(.9![.HT9QMTT/;+CCQ1T^>4/YT?I_P!-2A<_\X]></J[7&F7
MNGZI&/LK!,P9CX`NHC^^3`>S<E6#&39C]MM)Q<.2.7"?Z<?^)EQ_[!YYK.AZ
MOHM\]CJMI)9W:;F*5:$CLRGHR^#+\.8,\<H&I"B]3I=7BU$!/%(9(=\4#D')
M=BKL5=BKL5=BKL5?1'Y`?ER^G6G^*]3BXWEXG'3(V&\<#=9:'HTO['_%7_&7
M-YV=IN$<9YGZ7RSVT[<&6?Y7&?1C/[[^ED_U/_DG_%_MG]1ENF^=++4?..KS
M"Y$>AZ#'#IIGJ?3DO;V=58^!]-HXH5;]GD_Q<'S)CG$LAW],/3_GS+H\_94\
M6DQCAO/J3//P_P`<-/I\9_W<9SR?Z7^*+__5]/)JVG/J<NEK<(=1AB6>2UK1
MQ$Y(5P#]I:K2H^SD>,775N.FR#&,E'PY'@X_X>./\*&\S>7=.\Q:'=:/J"<K
M>Z3CR'VD<;I(G^4C?$,CEQ"<3$]6[L_79-+FCEQ_5#_9?SH2_HR?'WF[RKJG
ME;7+C2-16DL1K%*/L2Q$_!(G^2W_``OV<Y?-A..7"7W;LSM''K,(RX^4OJC_
M`#)_Q0DDV5.>[%78J[%78J[%7I7_`#CW_P"3&A_YA;C_`(B,S^S?[WX/)>VW
M^('^O!`?GE_Y-/6_^C7_`*A(<AVA_?2^'^Y#D^R'_&;B_P"2G_3;(Q30]>U;
M0M1BU'2KE[:ZA8$,A(#`?LN.CH?VE;,;'DE`W$[NZU>CQ:G&<>6(G"7X]/\`
M-D]^_.J"RU_\JM/\RR0B*\1;6Z@-/B5;M5#Q$_R_&I_UDS=:\">$3Z['_3/F
M7LI.>F[3GIP>*'[S'+_DA?#/_8_[)\XYHGU=V*NQ5V*NQ5V*O8/R<_)R76)8
M?,/F&$II"$/9V;BAN2-PS`_[H_Y._P#&/[6TT6BXO5+Z?]U_QUX7VH]J!@!P
M8#>8_P!YD_U'^C'_`&W_`*9_UOID?YN_G3;65O-Y>\KSJ]XP,5YJ$1!2%:4,
M<+#8R=BX_NOV?WG]W?K=<`.&'/\`G.I]F?96620U&I%0^K'BE]63^GD_H?T?
MX_ZGUENG>6+JS_YQRU658F-WJ;)J+K3XA#'<1$'_`%?1A];_`&65QQ$:4]\O
M5]KEY^T(Y.W\8OT8;P?\E)8Y_P#3S)X;_];IGY]:3JMDFF^=]$E>WU#2&]"X
MFC^T(9&^`GL461F1E/VO6S6=HPD*R1YQ>Y]C=3BR&>CS`3QY_7&,O]4A]7^=
MP>J/_"U_Y??GYHNL)%8>8RFEZGLHN3M:RGQY'^Y;V?X/\O\`9QTW:,9;3],O
M]BQ[;]C<V`F>GO-B_F?Y:'_53_-]7]%EOY@^0-(\[Z*()F$=Y$#)IU^GQ<&8
M=Z?;B?;DO^R7,K4Z:.6-=?X2Z/L7MK+V?FXAO"6V7%_._P")G%\J^9_*NM^6
M=5DTW5[<PSK4QN-XY4K0/&VW)#_UUQ;.<RX98Y5)]H[/[1PZO&,F(\4?]E#^
MC/\`I)1E3G.Q5V*NQ5V*O8/R`\J>8H_--OKTMA+'I#V\RI>.`J,6%!QJ>3;C
MJHS:=G89\?%7I>%]M.T<!TQP"<3FXX_NT1^:WY4^?M=\_:IJNE:7]8L+CT/1
MF]>W3EPMXXV^&217%'5ANN'6:/+/*91&WP[FKV<]H]#IM#CQ9<G!DAQ\4>#)
M+ZLDY_P0X?I233/R1U.SGBN?.>H6>@:4IY2^K<1M-(JT)2,`\.1^S7G_`+!\
MJAH"-\A$(^]V&?VMQY`8Z2&359?X>&$O#C_2G_%_L?\`.BB_SC_-#2==LK7R
MUY<!.BV;*TEQ1D$AB4I'&BM1O20'JWVVX_R?%+6ZN,P(0^D-'LO[/9=-.6HU
M']_D_A_F<?JG*7].7X^IY/FM>V=BKL5=BJO96<EY=);QO'&SFG.:1(8Q[L\A
M5%^_)1C9IKRY1CB9&S7\R,LDO])#U,^T`?E=Y69;[5[AO-&KQ[QV%I&5L8W[
M<Y9@GK?ZRHT?_%;_`&LS,?@X]Y?O)=P^AYG6_P`I:ST8A^3PG_*Y#_A$OZL,
M?%X?^FX_Z<5+SI^=7FWS+$]G$RZ5I3CB;.U)Y,OA)+LS#_)7@G^1@SZZ>3;Z
M8L^RO932Z0B9_?Y?]4R?[S'_`-)R_I,=\C>5+KS3YGLM'@!"2MRNI0-HX$WD
M<_['9?\`+XKE&GPG),1#M>U^T8Z/3RRR_A^B/\_)_!'\?POL?]&V/Z._1OHK
M]0]'ZM]7_8]'CPX?ZO#X<ZGA%5T?!?'GXGB7^\XO$X_Z?U<7^F?_U_4&HV%I
MJ-C<6%Y&)K2ZC:*>(]&1Q0C(RB)"CR;<&:6*8G`\,X'BB?Z47Q[Y^\EWWE'S
M%<:7<!GMZ^I8W)%!+"3\+?ZP^RX_GSE]1@.*='X/N_8W:L-=IQDC]7TY(?ZG
MD_'T_P!%KRU^8/G#RV0ND:G+#`#4VKD2P'Q_=OR05\5^+'%J<F/Z2NO[%TFK
M_O81E+^?]&3_`$\?4S"__/)M=TW]'^:_+EGJT/56B>2VD4_S(_[THWNF94NT
M.,5.(E_L718?9'\MD\32YLF"7](1RQ_SH_N^*/\`6>9W;VKW4KVD306S,3##
M(XE9$)V5G"Q\R/YN"YKY5>SU^(2$0)'BE_%*(X/]C<^'_3*.!F[%78J[%7K?
MY$^8]?OO/=I97>H7$UC!9RI#:-(WHHJ(`H6*O!>('9<V?9^61R`$FJ>']L-#
M@QZ*4XPA&<LD>*?#^\EQ'^?]2!_.;S)YBLOS,UB"RU6\M8(OJQCBAGEC52;6
M)CQ56`'Q'ED-=EF,Q`)Z?[D.3[*Z#!D[.QRGCQSD?$]4H1E_E<B??E[^9-AY
MKB7R=Y^CCOX[KX+#4)@`_J'8([BA60_[KF7B_+X7^UEVFU0R?N\OJ[I.M[;[
M!GHC^;T).(PWRXH_3P_SHQ_F?S\?T_S6&?FC^65[Y*U-3&S7.BW1/U*[8;@]
M3%+0`>HH_P"1B_$O[:IB:O2G$?Z)=_[/=OP[0Q[^C/#^\A_T\A_0_P!Q_I92
M@^8CT3L5=BKL5=BKL57PPRS2I#"C22R,$CC4$LS,:!0!U).$"V,I"())H!]4
M_D]^6Z^4=$-Q?(#KNH*K79V/I(-U@4CP^U)3[3_S<$SHM%I?"C9^N3XQ[4=N
M_GLW##^XQ?1_MDO]5_XC^C_6D]"S.>7?_]#U3BK&?/WD/2O.6BM87G[JYCJ]
MC>J`7ADI_P`,C?[L3]K_`%E5LQ]3IXY8T7;]C=L9=!FXX>J)_O,?\.2/_%?S
M)/E'S7Y0UWRMJC:=J]N8I-S#,M3%*@_;C>@Y+_PR_M9SF;#+'*I/M79O:>'6
M8_$Q&Q_%'^.']&<4EREV#L5=BKL5=BKL5>F?\X]([?F+$54D+:SEB!L`0!O]
M)S8=FC][\'D?;8C\@?Z\$O\`SS5A^:.LD@@,+4J3W'U2(;?=D.T/[X_#_<N3
M[('_`%MQ?\E/^FN1@8)!J-B-P<PGI7T=^77F[1OS&\I3>4?,S!]5CB]-BQ`D
MF1!\$\9/^[HZ?'_P?V6;-[I<T<\."?U?CU/E';G9F7LK5#5:?^Z)XOZ..7\6
M*?\`M4_X?]*\7\[_`)?Z_P"4M4FM;V!WLPQ^K:@J'T94['EN%?\`F0GDO_#9
MJM1II8S1Y?SGT#LGMK!K<8E`@3_CQ7ZX2_XG^;-C.8[MW8J[%78JF>@^6=>U
M^[%IH]C+>S?M>F/A6O=W-$0>[MEF/%*9J(MP]9K\&FCQ991QQ_I?[V/U2_S7
MT;^5WY,6'E8IJNJE+W7J5C(J8K>HW$=:<G\9"/\`4_RM[I-",?JEO/\`W+Y3
M[0^U4]9>+%>/3_[/-_7_`*/]#_3?T>G9L'D'8J__T?5.*NQ5+M=\O:+KU@UA
MJ]I'>6K[\)!NI_F1A1D;_*0Y7DQ1F*D+#E:/6YM-/CQ2..?E_OOYW^<\6\S_
M`/.-,H=YO+6I*4-2+.^J"/99HP:^W*/_`&>:K+V7_,/^F?0.S_;T56HA_P`E
M,/\`U3E_Q?\`FL"OOR7_`#+LW*MHSS+6@>"2*4'W^%^0_P!DN84M#E'\+TV'
MVK[/F/[T1_KQG#_>I;_RK3\P?^I>O_\`D0_],A^5R_S9.7_+VA_U;%_IXHVT
M_)[\R+EJ+HDL2TJSSO%"H'6I+LN2CHLI_A<;)[4=GP_RL9?U.*?^YBQC5-/.
MG7TMFUQ#<O">+RVS^I%RIN%>@#<>E5^',><>$T[C3Y_%@)U*'%_#D],_]*A,
MBWIKH_FOS)HL3Q:3J5Q8QR-RD6!S'R:E*MQI7+(9IP^DTX6J[.T^H(.6$,A'
M\\<2S6/,FO:T8VU:_FOFAJ(FG<N5!Z@$XSRRG]1MEI=!@T]^%"./B^K@'"EN
M5N6OAGF@E2:"1HIHR&CD0E64CH01N#A!IC.`D"".(%.[OS[YVN[5K6YUV_EM
MW7C)&UQ(0RTH0V_Q`]ZY:=1D(HRE\W7X^QM'"7%'%BC(?T(I#E+LG8J]J\D_
MDMY'\UZ1#J=CKMTPH!=VH6(2PR$;HU0:;_9;C\:YML&AQY(V)%\_[6]J]9HL
MIQSQ0_H3]7!DC_.C^/2S_1OR$_+K3G$DMK-J4B[J;R4L`?\`4B$2-_LU;,W'
MV=BCTXOZSS&J]LM?E%"4<0_VJ/\`OI^)+_2L]L=/L+"V6UL;:*TMD^Q!`BQH
M/DJ@#,R,1$4!3S6;-/++BG*4Y'^*9XI(C)-3L5=BK__2]4XJ[%78JD_F?S$G
ME[3CJ4]G/=6,1_TM[55=X4I_>%"5+1K^WQ^)/M<>/+C5ER\`LC9SNS]"=5D\
M.,HPF?H\3TQR2_F<7\_^;_.2*T_.7\M+I.::W''3JLL<L1'_``:"O^QRF.NQ
M'^)V63V6[0@:.(G^J83_`-S)*=<_YR`\@:?$?J4TVJST^&.WC9%K_E/,(Q3_
M`%`^59.TL4>7J<[2>Q>NRGUB.&/].7%_L<?%_LN%XQYZ_./S5YK5[4L-.TE]
MC8V['XQX2R;-)_J_"G^1FJU&NGDV^F/<]_V/[+Z;15+^]S?ZI/\`A_X7#^#_
M`&4_Z3`\PWI'8J[%78J[%78J[%78J[%4QT+S#K6@WZW^D7<EG=+MSC.S#^5U
M-5=?\EEXY9CRR@;B:+BZS18=3#@RQ&2'X^G^;_FO5M`_YR+\X2O#93:-!JMY
M)1(A;^I'+(W^JOJ@M_J*N;''VGD.U<1>*UOL-I(@S&26&`Y\?#.$?\[T?[)[
MAY9N/,MSIJW'F"VM[*\E/);.W9G])*#:1R:,]>O`<5_RLV^(S(N0HOG?:$-/
M#)PX#+)"/^4GZ>/^I'^;_63?+7!=BKL5?__3]4XJ[%78JT0"""*@[$'H1BH-
M/'?S!_YQ^T_4GEU'RNZ6%XU7DT]]K=SU_=D5]$G^7^[_`.,>:K4]FB6\/2?Y
MO\+WG8GMK/"!CU-Y8?ZK_E8_U_\`5/\`=_UWA?F#REYD\O7!@UG3YK-JT5W6
ML;D?R2+6-_\`8MFHR89P/J%/H^B[2T^JCQ89QR?[O_.A]<?\Y*,J<YV*IUY6
M\G>8O-%\+31K1IVJ/5G/PPQ`]Y)#\*_+[3?LJV78<$\AJ(=?VAVI@T<./++A
M_FQ_CG_4A^/Z2OYY\EZEY/UPZ3?.LS&))HIXP0CJXW*\J'X7#)_L<.HP'%+A
M+7V1VKCUV'Q8#A]1A*,OJCP_\=]3'LH=H[%7K_\`SCMY9TW5]0UV;4K2.\M8
MK:.W,4RJZ5G<OT;]K]S]H?9S9]F8A(RL6*>%]N.T,F"&(8Y'',SE/BAZ9?NX
M\/\`T\9/YK_YQNTJZD>X\MWIT]VW^I7'*6&O^3)_>(/];U<R<W9<3O`\+I^S
M?;O+`<.HCXO^V0]&3_.A]$O^E;`+W_G'_P#,BW9A#:V]X!T:&X0`_+UO2.84
MNS<HZ`_%Z;%[:=GRYRGC_KPE_P!._$4K?\A?S-E($FG16]3N9+F`T]_W;O@'
M9V;N^UG/VR[.CRF9?U83_P!_&+*M"_YQFU.1U?7=6A@BZM#9JTKGVYR"-5_X
M"3,C'V4?XC_I73:SV^Q@5AQRD?YV7T1_TL./B_TT'KWE+\O?*?E2*FD62K<$
M<9+V7]Y<..]7/V0?Y4X)_DYL\.FAC^D/"]I=MZK6G][+T_ZG'TXO]+_OI<4F
M29D.J=BKL5=BK__4]4XJ[%78J[%78JLEAAFC:*9%DB<4='`92/<'`1;*,C$V
M#18U??EA^7U\Q:?0+,,VY,48A)/7_=7#*):3$><0[;#[0:['].7)_G2\3_II
MQ*5I^4_Y<6KAXM`M6(-:2AIA]TI<8!H\0_A#/)[2:^8HY9_YOH_W'"RBUM+6
MT@6WM84@@C%$BB4(BCP"J`!F0``*#I\F24Y<4B92/\4O4\O_`.<@O)S:QY73
M6;5.5[HI9W`ZM;/3U?\`D60LG^KZF:_M+!Q0XASA_N7L/8KM3P-2<,CZ-1_T
MUC]'^G^C^MP/F;.??7G8J^G_`,@_+L^E^03>E0MYJ\CW,?,&@C4>G#RIOQ/$
MR?ZLF=#V=B,<5]9/CWMEKHYM=P?P8`,?^=]>3_B/\U%W'F[S[;:?KMVT&FW#
MZ/=)8I!$EP&FGD$#*06<T7_2>/\`K+DCFR`2/I])X>O]'_BFB'9FBGDQ1O-$
M9X'-Q2./]WCAXO\`1_VA,M+\_C5/-]CI-E"K:;=Z9^D&NC7F)6]-Q%L:?#%-
M&[[?[L7+(:GBF(CZ3'B<34=B^#I9Y9G][#-X/!_#P>N/B?\`*S'.,?ZK,LRG
M0NQ5V*NQ5V*NQ5V*O__5]4XJ[%78J[%78J[%78J[%78JMDCCDC:.10\;@JZ,
M*@@[$$'J#@(3&1!L<WR9^;7Y>3>4/,#>@A;1;XM)I\O9>[0L?YHZ_#_,G'_*
MSF]9IO"EM])^E]M]FNVQKL'J_O\`'Z<H_P"GG^?_`+I)_(7E&Z\U^9[32(01
M"S>I>S#_`'7;H1ZC?/\`93_+9<JT^$Y)B+G]L]IQT6FEE//Z<<?Y^7^"/_%?
MT>)]D6MM;VMM%:VZ"*W@18H8UV"H@XJH]@!G4@`"@^"Y,DIR,I&Y2/%+^M)+
M6\L::T6H1DR<=2O([^X^(5]:$0A>.VR_Z-'M_K97X0W_`*1XON_XERQVAD!@
M=OW..6&/]2?B?[+]]-"Z-Y%T'1[Y+VQ61)4>[D`+56MZ8C(.GV46WB2+^1%R
M,-/&)L>?^S_Z1;M5VQGSPX)U58X_]<_'P?Z;QLDLG\Z3(<O=6[%78J[%78J[
M%78J_P#_UO5.*NQ5V*NQ5V*NQ5V*NQ5V*NQ5B7YI?X4_P7??XG_W@I^ZX\?6
M]>A]/T.7^[NM/\GES_=\\QM7P>&>/D[OV>_,_FX?EO[S_I7X?\?B_P"U_P#'
M>'U\+#O^<<_\+_X>O?J%?TUZW^Y+U>/J>G4^AQI_NKC_`,E>?^1F+V9P<)KZ
MOXG?>W/YGQX\?]QP_NN'Z>+_`"O%_3_WG!_2>O9LWAG8J[%78J[%78J[%78J
&[%78J__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
