<SEC-DOCUMENT>0000895447-12-000043.txt : 20120321
<SEC-HEADER>0000895447-12-000043.hdr.sgml : 20120321
<ACCEPTANCE-DATETIME>20120321160811
ACCESSION NUMBER:		0000895447-12-000043
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120321
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120321
DATE AS OF CHANGE:		20120321

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SHOE CARNIVAL INC
		CENTRAL INDEX KEY:			0000895447
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-SHOE STORES [5661]
		IRS NUMBER:				351736614
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			0130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21360
		FILM NUMBER:		12706046

	BUSINESS ADDRESS:	
		STREET 1:		7500 EAST COLUMBIA STREET
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47715
		BUSINESS PHONE:		8128676471

	MAIL ADDRESS:	
		STREET 1:		7500 EAST COLUMBIA STREET
		CITY:			EVANSVILLE
		STATE:			IN
		ZIP:			47715
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>SHOE CARNIVAL INC 8-K 03-21-12
<TEXT>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Washington, D.C. 20549</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT REPORT</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 24pt; FONT-FAMILY: times new roman">SHOE CARNIVAL, INC.</font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;The following information shall not be deemed &#8220;filed&#8221; for the purposes of Section&#160;18 of the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;On&#160;March 21, 2012, Shoe Carnival, Inc. (the "Company") issued a press release announcing its operating and financial results for its&#160;fiscal year and&#160;fourth quarter ended&#160;January 28, 2012.&#160;&#160;A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:&#160;&#160;March 21, 2012</font></div>
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<TYPE>EX-99.1
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Evansville, IN 47715</font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Evansville, Indiana, March 21, 2012 - Shoe Carnival, Inc. (NASDAQ: SCVL) a leading retailer of value-priced footwear and accessories, today announced net sales and earnings for the fourth quarter and</font> fiscal year ended January 28, 2012.</font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Net sales for the fourth quarter of fiscal 2011 increased 1.1 percent to $181.9 million compared to net sales of $179.9 million for the fourth quarter of fiscal 2010.&#160;&#160;Comparable store sales decreased 3.0 percent in the fourth quarter of fiscal 2011.&#160;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Net earnings for the fourth quarter were $3.3 million or $0.24 per diluted share, as compared to net earnings of $4.4 million or $0.33 per diluted share for the fourth quarter last year.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="FONT-SIZE: 12pt; MARGIN-LEFT: 36pt; FONT-FAMILY: Times New Roman"></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The gross profit margin for the fourth quarter of fiscal 2011 decreased to 28.3 percent&#160;&#160;from 30.0 percent in the fourth quarter of fiscal 2010.&#160;&#160;The merchandise margin decreased 1.5 percent, while buying, distribution and occupancy costs increased 0.2 percent, as a percentage of sales.</font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Selling, general and administrative expenses for the fourth quarter decreased $463,000 to $46.6 million.&#160;&#160;As a percentage of sales, these expenses decreased 0.6 percent as compared to the fourth quarter of fiscal 2010.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Speaking on the results, Mark Lemond, president and chief executive officer said, &#8220;Our fourth quarter sales results were in line with our revised guidance of $181 to $182 million issued early in January. However, we exceeded the high-end of our earnings guidance of $0.23 per share by $0.01.&#160;&#160;Consumer demand for fall footwear, particularly boots, declined significantly as a result of the unseasonably warm weather.&#160;&#160;Consequently, heavy promotional activity was required during the fourth quarter to effectively sell through this inventory, thus reducing our sales and merchandise margin.&#160;&#160;The decline in comparable store sales of&#160;three percent and the 150 basis point decline in the merchandise margin were attributed to the sales and margin decline in the boot category.&#8221;</font></font></font></div>
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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Net sales increased 3.2 percent to $762.5 million for fiscal 2011, compared to net sales of $739.2 million for fiscal 2010.&#160;&#160;Comparable store sales increased 0.7 percent in fiscal 2011.&#160;&#160;Net earnings for fiscal 2011 were $26.4 million, or $1.97 per diluted share, compared to net earnings of $26.8 million, or $2.05 per diluted share in the prior year.&#160;&#160;The gross profit margin for fiscal 2011 decreased to 29.5 percent from 30.0 percent last year.&#160;&#160;Selling, general and administrative expenses, as a percentage of sales, were 24.0 percent for fiscal 2011, as compared to 24.3 percent for the prior year.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Mr. Lemond continued, &#8220;We experienced significant fluctuations in consumer demand during 2011, as compared to 2010 when strong fashion trends aided us in setting record-breaking sales and earnings results.&#160;&#160;While toning footwear and boots were key drivers of our sales for 2010, sales of this footwear declined substantially in 2011.&#160;&#160;Toning footwear experienced a yearlong decline in popularity while the sale of fall product never materialized with the same strength as last year.&#160;&#160;However, I am very pleased with our ability to manage our inventories and control our costs despite the challenges presented by these changes in consumer demand.&#160;&#160;We achieved $1.97 in earnings per diluted share for 2011, which is second only to the record $2.05 in earnings per diluted share achieved last year.&#8221;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Mr. Lemond concluded, &#8220;We are excited about our growth opportunities as we move into 2012, despite certain continued economic headwinds.&#160;&#160;We expect to open approximately 30 new stores with over one-third of these stores located in two new major markets &#8211; the Dallas/Fort Worth Metroplex and Puerto Rico.&#160;&#160;These new major markets, coupled with our new e-commerce site launched in the third quarter of 2011, offer Shoe Carnival an opportunity to realize significant additional exposure for our brand.&#8221;</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">First Quarter Fiscal 2012 EPS Outlook</font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Earnings per diluted share in the first quarter of fiscal 2012 are expected to be in the range of $0.75 to $0.78.&#160;&#160;This increase assumes net sales in the range of $219 to $222 million with a comparable store sales increase of 5.5 to 7.0 percent.&#160;&#160;In the first quarter of fiscal 2011, comparable store sales increased 3.4 percent and earnings per diluted share were $0.75.&#160;&#160;Included in the Company&#8217;s first quarter of 2012 earnings guidance is an increase in pre-opening costs, including pre-opening rent expense, of $1.3 million, or $0.06 per diluted share.&#160;&#160;This is due to the acceleration of store openings in the first quarter of fiscal 2012 (13 store openings compared to four in the first quarter of last year).</font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">During fiscal 2011, the Company opened 17 new stores and closed four stores to end the year at 327 stores.&#160;&#160;One store was opened in the fourth quarter and one was closed.&#160;&#160;Total retail selling space increased to 3.6 million square feet from 3.4 million square feet at the end of fiscal 2010.</font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">In fiscal 2012, the Company expects to open approximately 30 new stores, relocate ten stores and close five stores.&#160;&#160;The Company has completed the store openings and closings for the first quarter of fiscal 2012 with the opening of 13 new stores, relocating two stores and closing three.&#160;&#160;This includes the grand opening of six stores in the Dallas/Fort Worth market and one store in El Paso, Texas on March 16, 2012.&#160;&#160;In the first quarter of last year, four stores were opened, five stores were relocated and none were closed.</font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Today, at 4:30 p.m. Eastern time, the Company will host a conference call to discuss the fourth quarter results.&#160;&#160;The public can listen to the live webcast of the call by visiting Shoe Carnival's Investor Relations page at www.shoecarnival.com.&#160;&#160;While the question-and-answer session will be available to all listeners, questions from the audience will be limited to institutional analysts and investors.&#160;&#160;A replay of the webcast will be available on our website beginning approximately two hours after the conclusion of the conference call and will be archived for one year.</font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Shoe Carnival, Inc. is one of the nation&#8217;s largest family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands.&#160;&#160;As of March 21, 2012, the Company operates 337 stores in 32 states and offers online shopping at www.shoecarnival.com. Headquartered in Evansville, IN, Shoe Carnival trades on The NASDAQ Stock Market LLC under the symbol SCVL.&#160;&#160;Shoe Carnival's press releases and annual report are available on the Company's website at www.shoecarnival.com.</font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">The Company also announced that April 13, 2012 has been set as the shareholder of record date and the Annual Meeting of Shareholders will be held on June 14, 2012.</font></font></font></div>

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<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Cautionary Statement Regarding Forward-Looking Information</font></font></font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">&#160;</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font id="TAB1" style="FONT-SIZE: 12pt; MARGIN-LEFT: 36pt; FONT-FAMILY: Times New Roman"></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">In addition, these forward-looking statements necessarily depend upon assumptions, estimates and dates that may be incorrect or imprecise and involve known and unknown risks, uncertainties and other factors.&#160;&#160;Accordingly, any forward-looking statements included in this press release do not purport to be predictions of future events or circumstances and may not be realized.&#160;&#160;Forward-looking statements can be identified by, among other things, the use of forward-looking terms such as "believes," "expects," "may," "will," "should," "seeks," "pro forma," "anticipates," "intends" or the negative of any of these terms, or comparable terminology, or by discussions of strategy or intentions.&#160;&#160;Given these uncertainties, we caution investors not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.&#160;&#160;We disclaim any obligation to update any of these factors or to publicly announce any revisions to the forward-looking statements contained in this press release to reflect future events or developments.</font></font></font></font></div>

<font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><br>
</font></font><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Financial Tables Follow</font></font></div>
</div>

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<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160; </font></div>
</div>

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<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160; </font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" noshade size="2">
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<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160; </font></div>
</div>
</div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">SHOE CARNIVAL, INC.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">CONDENSED CONSOLIDATED STATEMENTS OF INCOME</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(In thousands, except per share)</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="40%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="2%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-TOP: medium none; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Thirteen</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Weeks Ended</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">January 28, 2012</font></div>
</td>
<td nowrap valign="bottom" width="2%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-TOP: medium none; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Thirteen</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Weeks Ended</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">January 29, 2011</font></div>
</td>
<td nowrap valign="bottom" width="2%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-TOP: medium none; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Fifty-two</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Weeks Ended</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">January 28, 2012</font></div>
</td>
<td nowrap valign="bottom" width="2%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-TOP: medium none; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Fifty-two</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Weeks Ended</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">January 29, 2011</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Net sales</font></div>
</td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">181,940&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">179,895&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">762,534&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">739,189&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;Cost of sales (including buying,</font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160; distribution and occupancy costs)</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">130,375&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">125,885&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">537,681&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">517,650&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Gross profit</font></div>
</td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">51,565&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">54,010&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">224,853&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">221,539&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;Selling, general and administrative</font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160; expenses</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">46,556&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">47,019&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">182,716&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">179,154&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Operating income</font></div>
</td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">5,009&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">6,991&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">42,137&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">42,385&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Interest income</font></div>
</td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(13)</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(86)</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(79)</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(165)</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Interest expense</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">66&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">62&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">266&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">258&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Income before income taxes</font></div>
</td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">4,956&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">7,015&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">41,950&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">42,292&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Income tax expense</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1,681&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2,655&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">15,568&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="PADDING-BOTTOM: 1px; BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">15,471&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Net income</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">3,275&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">4,360&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">26,382&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">26,821&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Net income per share:</font></div>
</td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Basic</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">.24&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">.34&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1.98&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2.11&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="40%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Diluted</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">.24&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">.33&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1.97&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2.05&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="40%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr></table>
</div>

<br>
<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160; </font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" noshade size="2">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160; </font></div>
</div>
</div>
</div>

<div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">SHOE CARNIVAL, INC.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">CONDENSED CONSOLIDATED BALANCE SHEETS</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(In thousands)</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="63%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="8%" style="BORDER-TOP: medium none; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">January&#160;28,</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;2012</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="8%" style="BORDER-TOP: medium none; BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">January&#160;29,</font></font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;2011</font></font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">ASSETS</font></font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Current Assets:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="8%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Cash and cash equivalents</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">70,602</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">60,193</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Accounts receivable</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2,621</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1,550</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Merchandise inventories</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">237,655</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">212,929</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Deferred income tax benefit</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2,496</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">4,275</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Other</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2,887</font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2,407</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Total Current Assets</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">316,261</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">281,354</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Property and equipment-net</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">69,232</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">62,391</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Other</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1,069</font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1,400</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Total Assets</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">386,562</font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">345,145&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="63%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">LIABILITIES AND SHAREHOLDERS' EQUITY</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Current Liabilities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Accounts payable</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">61,238</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">55,219</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Accrued and other liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">14,522</font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">15,457</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Total Current Liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">75,760</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">70,676</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Deferred lease incentives</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">12,964</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">8,211</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Accrued rent</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">6,029</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">5,082</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Deferred income taxes</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1,930</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">669</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Deferred compensation</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">6,054</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">4,907</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Other</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">141</font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1,257</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Total Liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">102,878</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">90,802</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="63%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Total Shareholders' Equity</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">283,684</font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">254,343</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="63%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Total Liabilities and Shareholders' Equity</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">386,562</font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="7%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">345,145</font></td>
</tr></table>
</div>

<div align="left">&#160;</div>
</div>

<div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<div id="FTR">
<div id="GLFTR" style="WIDTH: 100%" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160; </font></div>
</div>

<div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
<div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160; </font></div>

<div style="WIDTH: 100%; TEXT-ALIGN: center">
<hr style="COLOR: black" align="left" noshade size="2" width="100%">
</div>
</div>

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 8pt; FONT-FAMILY: times new roman">&#160; </font></div>
</div>
</div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">SHOE CARNIVAL, INC.</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(In thousands)</font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>

<div>
<div align="left">
<table cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
<td valign="bottom" width="65%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-TOP: medium none; BORDER-BOTTOM: black 2px solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Fifty-two</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Weeks Ended</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">January 28, 2012</font></div>
</td>
<td valign="bottom" width="2%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%" style="BORDER-TOP: medium none; BORDER-BOTTOM: black 2px solid">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Fifty-two</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Weeks Ended</font></div>

<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">January 29, 2011</font></div>
</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Cash flows from operating activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td colspan="2" valign="bottom" width="13%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Net income</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">26,382&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">26,821&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Adjustments to reconcile net income to net</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;cash&#160;provided by operating activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Depreciation and amortization</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">14,450&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">13,735&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Stock-based compensation</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2,135&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">5,468&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Loss on retirement&#160;and impairment of assets</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">666&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1,995&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Deferred income taxes</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">3,040&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(1,403)</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Lease incentives</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">5,903&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2,974&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Other</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(810)</font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(827) </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;Changes in operating assets and liabilities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Accounts receivable</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(971)</font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(804)</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Merchandise inventories</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(24,726)</font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(15,477)</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Accounts payable and accrued liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">3,960&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(2,669)</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 1px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">846&#160; </font></td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(390) </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="65%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 1px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Net cash&#160;provided by operating activities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">30,875</font></td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">29,423&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="65%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Cash flows from investing activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Purchases of property and equipment</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(21,260)</font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(14,412)</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Proceeds from sale of property and equipment</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">5&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">312&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 1px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Proceeds from notes receivable</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">100&#160; </font></td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">100&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="65%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 1px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Net cash used in investing activities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(21,155)</font></td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(14,000)</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="65%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Cash flows from financing activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Proceeds from issuance of stock</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">2,654&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">738&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Excess tax benefits from stock-based compensation</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">1,254&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">520&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 1px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;&#160;&#160;Purchase of treasury stock</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(3,219)</font></td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">(656)</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="65%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 1px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Net cash&#160;provided by financing activities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">689&#160; </font></td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">602&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="65%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Net decrease in cash and cash equivalents</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">10,409&#160; </font></td>
<td align="right" valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">16,025&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 1px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Cash and cash equivalents at beginning of period</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">60,193&#160; </font></td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 1px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">44,168&#160; </font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="65%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160; </font></td>
<td valign="bottom" width="1%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="2%"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="12%" style="TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="65%" style="PADDING-BOTTOM: 2px">
<div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">Cash and Cash Equivalents at End of Period</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">70,602&#160; </font></td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;$</font></td>
<td valign="bottom" width="12%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: normal; FONT-SIZE: 12pt; FONT-FAMILY: times new roman">60,193&#160; </font></td>
</tr></table>
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