<SUBMISSION>
<ACCESSION-NUMBER>0001068590-03-000120
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20030930
<ITEMS>12
<ITEMS>7
<ITEMS>9
<FILING-DATE>20031031
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>PROGRAMMERS PARADISE INC
<CIK>0000945983
<ASSIGNED-SIC>5045
<IRS-NUMBER>133136104
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-26408
<FILM-NUMBER>03969463
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1157 SHREWSBURY AVE
<CITY>SHREWSBURY
<STATE>NJ
<ZIP>07702
<PHONE>7323898950
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1157 SHREWSBURY AVE
<CITY>SHREWSBURY
<STATE>NJ
<ZIP>07702
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ppi8k305457-oct31.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>UNITED STATES</TITLE>
</HEAD>
<BODY VLINK="#800080">

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=600>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=5><P ALIGN="CENTER">UNITED STATES</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=5><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<B><P ALIGN="CENTER">Washington, DC 20549</B><BR>
<BR>
____________________</TD>
</TR>
<TR><TD VALIGN="TOP">
<B><FONT SIZE=5>
<P ALIGN="CENTER">FORM 8-K</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP">
<B><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">CURRENT REPORT<BR>
<BR>
Pursuant to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934</P>
<P ALIGN="CENTER">&nbsp;</B></TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER">Date of report (Date of earliest event reported): <u>  October 30, 2003</u></TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="CENTER"><u>Programmer's Paradise, Inc.</u><BR>
(Exact name of Registrant as specified in its charter)
<P ALIGN="CENTER">&nbsp;</TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=600>
<TR><TD WIDTH="37%" VALIGN="TOP">
<P ALIGN="CENTER"><u>Delaware</u></TD>
<TD WIDTH="30%" VALIGN="TOP">
<P ALIGN="CENTER"><u>000-26408</u></TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER"><u>13-3136104</u></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">(State of Other Jurisdiction</FONT></TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">(Commission</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">(IRS Employer</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">of Incorporation)</FONT></TD>
<TD WIDTH="30%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">File Number</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">Identification No.)</FONT></TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="30%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="37%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="30%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=600>
<TR><TD WIDTH="67%" VALIGN="TOP">
<P ALIGN="CENTER"><u>1157 Shrewsbury Avenue, Shrewsbury, New Jersey</u></TD>
<TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER"><u>07702</u></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">(Address of Principal Executive Offices)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT SIZE=1><P ALIGN="CENTER">(Zip Code)</FONT></TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="67%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP">&nbsp;</TD>
</TR>
</TABLE>

<P>Registrant's telephone number, including area code: <u>  (732) 389-8950</u></P>
<B>
<p Style='page-break-before:always'>
<P>
<P>Item 7.&nbsp;&nbsp;Financial Statements, <I>Pro-Forma</I> Financial Information and Exhibits</P>
</B><P>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Exhibits</u></P>
<P style="text-indent: 65">99.1&#9;Press Release dated October 30, 2003 announcing 2003 third quarter financial results.</P>
<B><P>Item 9 and Item 12.&nbsp;&nbsp;Regulation FD Disclosure and Results of Operations and Financial Condition</P>
</B><P style="text-indent: 65">On October 30, 2003, Programmer's Paradise, Inc. issued a press release announcing its 2003 third quarter financial results.  The information contained in the press release, which is attached as Exhibit 99.1 to this report, is incorporated by reference herein and is furnished pursuant to Item 9, "Regulation FD Disclosure" and Item 12, "Results of Operations and Financial Condition."</P>
<p Style='page-break-before:always'>
<P>
<P>&nbsp;</P>
<B><P ALIGN="CENTER">SIGNATURE</P>
</B>
<p style="text-indent: 65; word-spacing: 0; line-height: 100%; margin: 0">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.
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=600>
<TR><TD WIDTH="45%" VALIGN="TOP"></TD>
<TD WIDTH="55%" VALIGN="TOP" COLSPAN=2>
  &nbsp;
  <p>&nbsp;
  </TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="55%" VALIGN="TOP" COLSPAN=2>
<P>PROGRAMMER'S PARADISE, INC.</TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="55%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="55%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="55%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>Dated:&nbsp; October 31, 2003</TD>
<TD WIDTH="6%" VALIGN="TOP">
<P>By:</TD>
<TD WIDTH="49%" VALIGN="TOP">
<P><u>/s/ Simon F. Nynens&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="49%" VALIGN="TOP">
<P>Simon F. Nynens</TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="49%" VALIGN="TOP">
<P>Chief Financial Officer</TD>
</TR>
</TABLE>

<p Style='page-break-before:always'>
<P>
<P>&nbsp;</P>

<U><P ALIGN="CENTER">Index to Exhibits</P>
</U>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=600>
<TR><TD WIDTH="17%" VALIGN="TOP">
<U><P>Exhibit No</U>.</TD>
<TD WIDTH="83%" VALIGN="TOP">
<U><P>Description</U></TD>
</TR>
<TR><TD WIDTH="17%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="83%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="17%" VALIGN="TOP">
<P>99.1</TD>
<TD WIDTH="83%" VALIGN="TOP">
<P>Press Release dated October 30, 2003 announcing 2003 third quarter financial results.</TD>
</TR>
</TABLE>


<P></P></BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>ex991-8k_oct31.htm
<DESCRIPTION>EX 99.1 FINANCIAL RESULTS
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 99</TITLE>
</HEAD>
<BODY VLINK="#800080">

<U><P ALIGN="RIGHT">Exhibit 99.1</P>
</U><P></P>

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=600>
<TR><TD WIDTH="39%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="61%" VALIGN="TOP">
<B><P style="word-spacing: 0; line-height: 100%; text-indent: 0; margin: 0">Company Contact:</P>
<P style="word-spacing: 0; line-height: 100%; text-indent: 0; margin: 0">Bill Willett</P>
<P style="word-spacing: 0; line-height: 100%; text-indent: 0; margin: 0">Programmer's
Paradise (R), Inc.</P>
<P style="word-spacing: 0; line-height: 100%; text-indent: 0; margin: 0">Chairman and Chief Executive Officer</P>
<P style="word-spacing: 0; line-height: 100%; text-indent: 0; margin: 0">(732)-389-8950</P>
<P style="word-spacing: 0; line-height: 100%; text-indent: 0; margin: 0">bill.willett@programmers.com</B></TD>
</TR>
</TABLE>

<B>
<P ALIGN="CENTER">PROGRAMMER'S PARADISE (R), INC. REPORTS 2003 THIRD QUARTER<br>
FINANCIAL RESULTS</P>
<P ALIGN="CENTER">NET SALES INCREASE 16%<br>
EARNINGS PER SHARE OF $.09</P>
<P>SHREWSBURY, NJ, October 30, 2003</B> - Programmer's Paradise (R), Inc. (NASDAQ: PROG) today reported financial results for the third quarter ended September 30, 2003. The results will be discussed in a conference call to be held on Friday, October 31, 2003 at 10:00 AM Eastern time. The dial-in telephone number is (952) 556-2869 and the pass code is "PROG".</P>
<P>Revenue for the quarter ended September 30, 2003 was $18.4 million compared with $15.8 million for the quarter ended September 30, 2002. The 16% increase in year-over-year sales reflects the improved productivity of our account executive team. In addition sales increased 14% over the immediately preceding quarter.</P>
<P>Bill Willett, Chairman and Chief Executive Officer, stated, "This increase in sales and our continued focus on expense control has resulted in another profitable quarter for our Company."</P>
<P>Earnings for the quarter were $.3 million or $.09 per share.</P>
<P>Programmer's Paradise, Inc. is a marketer of technical software and hardware for microcomputers, servers and networks in the United States and Canada. Programmer's Paradise offers a wide variety of technical and general business application software, PC hardware and components from a broad range of publishers and manufacturers. Additional information can be found by visiting
<u>www.programmersparadise.com</u>.</P>
<P>Contact Programmer's Paradise, Inc. via Bill Willett, CEO of Programmer's Paradise, Inc. at (732) 389-8950 or
<u>bill.willett@programmers.com</u>.</P>
<I><P>The statements in this release concerning the Company's future prospects are forward-looking statements that involve certain risks and uncertainties. Such risks and uncertainties include the continued acceptance of the Company's distribution channel by vendors and customers, the timely availability and acceptance of new products, and contribution of key vendor relationships and support programs.</P>
</I><P ALIGN="CENTER">- Tables Follow -</P>

<P Style='page-break-before:always'>
<P>

<P>&nbsp;</P>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=588>
<TR><TD VALIGN="BOTTOM" COLSPAN=3>
<B><FONT SIZE=3><P ALIGN="CENTER">PROGRAMMER'S PARADISE, INC. AND SUBSIDIARIES<br>
CONDENSED CONSOLIDATED BALANCE SHEETS<br>
(In thousands)</B></FONT></P>
  </TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="CENTER">September 30,<BR>
<U>2003<BR>
</U>(Unaudited)</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="CENTER">December 31,<BR>
<U>2002<BR>
</U>(Audited)</FONT></TD>
</TR>
<TR><TD VALIGN="BOTTOM" COLSPAN=3>
<FONT SIZE=3><P ALIGN="CENTER">ASSETS</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Current assets</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Cash and cash equivalents</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,263</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp; 6,072</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Marketable Securities</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">6,436</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">5,110</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Accounts receivable, net</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">6,420</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">6,342</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Inventory - finished goods</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">762</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">1,151</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Prepaid expenses and other current assets</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
348</u></FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264</u></FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Total current assets</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">19,229</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">18,939</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Equipment and leasehold improvements, net</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">324</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">460</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Other assets</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
55</u></FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
69</u></FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="top">
<FONT SIZE=3><P>Total assets</FONT></TD>
<TD WIDTH="18%" VALIGN="top">
<FONT SIZE=3><P ALIGN="RIGHT">$19,608<br>
======</FONT></TD>
<TD WIDTH="21%" VALIGN="top">
<FONT SIZE=3><P ALIGN="RIGHT">$19,468<br>
======</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD VALIGN="BOTTOM" COLSPAN=3>
<FONT SIZE=3><P ALIGN="CENTER">LIABILITIES AND STOCKHOLDERS' EQUITY</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Current liabilities</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Accounts payable and accrued expenses</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 8,194</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 7,772</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Dividend payable</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369</u></FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
-</u></FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Total current liabilities</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">8,563</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">7,772</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Commitments and contingencies</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Stockholders' equity</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Common stock, $.01 par value; authorized, 10,000,000 shares; issued 5,257,750 shares and 5,230,250 shares, respectively</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">53</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">52</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Additional paid-in capital</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">34,416</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">35,484</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Treasury stock, at cost, 1,561,970 shares and 1,389,576 shares, respectively</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">(4,561)</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">(4,184)</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Accumulated deficit</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">(18,934)</FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT">(19,511)</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P style="margin-left: 10">Accumulated other comprehensive income (loss)</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
71</u></FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (145)</u></FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">
<FONT SIZE=3><P>Total stockholders' equity</FONT></TD>
<TD WIDTH="18%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp; 11,045</u></FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp; 11,696</u></FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="top">
<FONT SIZE=3><P>Total liabilities and stockholders' equity</FONT></TD>
<TD WIDTH="18%" VALIGN="top">
<FONT SIZE=3><P ALIGN="RIGHT">$ 19,608<br>
======</FONT></TD>
<TD WIDTH="21%" VALIGN="top">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 19,468<br>
=======</FONT></TD>
</TR>
<TR><TD WIDTH="61%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="18%" VALIGN="BOTTOM">&nbsp;</TD>
<TD WIDTH="21%" VALIGN="BOTTOM">&nbsp;</TD>
</TR>
</TABLE>
</CENTER>

<P Style='page-break-before:always'>
<P>

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=600 height="1182">
<TR><TD VALIGN="TOP" COLSPAN=5 width="592" height="97">
<B><FONT SIZE=3><P ALIGN="CENTER">PROGRAMMER'S PARADISE, INC. AND SUBSIDIARIES<BR>
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME<BR>
(Unaudited)<BR>
(In thousands, except per share data)</B></FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">&nbsp;</TD>
<TD WIDTH="145" VALIGN="TOP" COLSPAN=2 height="40">
<FONT SIZE=3><P ALIGN="CENTER">Nine months ended<BR>
<U>September 30</U>,</FONT></TD>
<TD WIDTH="149" VALIGN="TOP" COLSPAN=2 height="40">
<FONT SIZE=3><P ALIGN="CENTER">Three months ended<BR>
<U>September 30</U>,</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<U><FONT SIZE=3><P ALIGN="CENTER">2003</U></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<U><FONT SIZE=3><P ALIGN="CENTER">2002</U></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<U><FONT SIZE=3><P ALIGN="CENTER">2003</U></FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<U><FONT SIZE=3><P ALIGN="CENTER">2002</U></FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="69" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="21">&nbsp;</TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Net sales</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 49,604</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 50,271</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 18,355</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 15,798</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Cost of sales</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp; 43,199</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp; 43,735</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp; 16,061</u></FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp; 13,782</u></FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Gross profit</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">6,405</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">6,536</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">2,294</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">2,016</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Selling, general and administrative expenses</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">5,940</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">6,453</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">2,001</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">2,087</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Litigation settlement</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
-</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 348</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<P ALIGN="RIGHT"><font size="3"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
-</u></font></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 348</u></FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Income (loss) from operations</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">465</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">(265)</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">293</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">(419)</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Realized gain on sale of available-for-sale securities</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">-</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">141</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">-</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">141</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Interest income, net</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">93</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">195</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">43</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">66</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Foreign exchange gain (loss)</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
71</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9)</u></FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)</u></FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Income (loss) before income taxes</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">629</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">62</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">327</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT">(214)</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Provision (benefit) for income taxes</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
52</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp; (257)</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)</u></FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)</u></FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Net income (loss)</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp; 577<br>
======</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 319<br>
=====</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 333<br>
=====</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$ (210)<br>
=====</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="69" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="21">&nbsp;</TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Net income (loss) per common share - Basic</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp;&nbsp; 0.16<br>
======</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$ 0.07<br>
=====</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 0.09<br>
=====</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$ (0.05)<br>
=====</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Net income (loss) per common share - Diluted</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp;&nbsp; 0.15<br>
======</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$ 0.07<br>
=====</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp; 0.09<br>
=====</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$ (0.05)<br>
=====</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="69" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="21">&nbsp;</TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Weighted average number of common shares outstanding</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="40">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="40">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="40">&nbsp;</TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="69" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="21">&nbsp;</TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Basic</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">3,722<br>
======</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">4,639<br>
=====</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">3,694<br>
=====</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">4,213<br>
=====</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="27">
<FONT SIZE=3><P>Diluted</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="27">
<FONT SIZE=3><P ALIGN="RIGHT">3,816<br>
======</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="27">
<FONT SIZE=3><P ALIGN="RIGHT">4,654<br>
=====</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="27">
<FONT SIZE=3><P ALIGN="RIGHT">3,788<br>
=====</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="27">
<FONT SIZE=3><P ALIGN="RIGHT">4,213<br>
=====</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="69" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="21">&nbsp;</TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Reconciliation of net income (loss) to comprehensive income (loss):</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="40">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="40">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="40">&nbsp;</TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Net income (loss)</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>$&nbsp;&nbsp;&nbsp; 577</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>$&nbsp;&nbsp;&nbsp; 319</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>$&nbsp;&nbsp;&nbsp; 333</u></FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>$&nbsp;&nbsp;&nbsp; (210)</u></FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Other comprehensive income, net of tax:</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="21">&nbsp;</TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Reclassification adjustment for gain realized on sale of available-for-sale securities</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">-</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">(78)</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">(78)</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Unrealized gain on available-for-sale securities</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">16</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">173</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">2</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">73</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">
<FONT SIZE=3><P>Foreign currency translation adjustments</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp; 347</u></FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp; (10)</u></FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="21">
<FONT SIZE=3><P ALIGN="RIGHT"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (47)</u></FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="40">
<FONT SIZE=3><P>Total comprehensive income (loss)</FONT></TD>
<TD WIDTH="69" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp;&nbsp; 793<br>
=====</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp;&nbsp; 761<br>
=====</FONT></TD>
<TD WIDTH="68" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp;&nbsp; 325<br>
=====</FONT></TD>
<TD WIDTH="73" VALIGN="TOP" height="40">
<FONT SIZE=3><P ALIGN="RIGHT">$&nbsp;&nbsp; (262)<br>
======</FONT></TD>
</TR>
<TR><TD WIDTH="282" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="69" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="68" VALIGN="TOP" height="21">&nbsp;</TD>
<TD WIDTH="73" VALIGN="TOP" height="21">&nbsp;</TD>
</TR>
</TABLE>

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