<SEC-DOCUMENT>0000895447-15-000040.txt : 20150901
<SEC-HEADER>0000895447-15-000040.hdr.sgml : 20150901
<ACCEPTANCE-DATETIME>20150901160812
ACCESSION NUMBER:		0000895447-15-000040
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150901
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150901
DATE AS OF CHANGE:		20150901

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:		151087441

	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 09-01-2015
<TEXT>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">CURRENT REPORT</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">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="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On&#160;September 1, 2015, Shoe Carnival, Inc. (the "Company") issued a press release announcing its operating and financial results for its&#160;second quarter&#160;ended&#160;August 1, 2015.&#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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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">SHOE CARNIVAL REPORTS&#160;SECOND QUARTER FISCAL 2015 FINANCIAL RESULTS</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline">Evansville, Indiana,&#160;<font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">September</font> 1, 2015&#160;-&#160;Shoe Carnival, Inc. (Nasdaq: SCVL) a leading retailer of moderately priced footwear and accessories, today reported results for the&#160;second quarter ended&#160;August</font></font></font></font></font></font></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"> 1, 2015.</font></font></font></font></font></font></font></div>

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

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Cliff Sifford, President and CEO, stated, &#8220;We are pleased with our second quarter financial performance.&#160;&#160;Our strong quarterly earnings were driven by a combination of higher merchandise margins and lower advertising expenses. Comparable store sales were in-line with our expectations as the solid start to the quarter was muted by an anticipated shift in tax-free holidays to the third quarter of this year from the second quarter of fiscal 2014.&#160;&#160;We believe our assortment of branded, family footwear, favorable inventory position, and our multi-channel initiatives positioned us well to capture the robust back-to-school sales with our August comparable store sales up high single digits.&#8221;</font></font></font></font></font></font></font></font></font></font></font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Mr. Sifford concluded, &#8220;We recently hosted a major grand opening event in Philadelphia, Pennsylvania, our latest large market. Also, we look forward to opening two complementary small market stores in the Midwest in the second half of fiscal 2015.&#8221;</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company reported net sales of $227.8 million for the second quarter of fiscal 2015, a 2.6 percent increase, as compared to net sales of $222.1 million for the second quarter of fiscal 2014.&#160;&#160;Comparable store sales increased 0.5 percent in the second quarter of fiscal 2015.</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The gross profit margin for the second quarter of fiscal 2015 increased to 29.1 percent compared to 28.0 percent in the second quarter of fiscal 2014.&#160;&#160;The merchandise margin increased 1.1 percent while buying, distribution and occupancy expenses remained flat as a percentage of sales.</font></font></font></font></font></font></font></font></font></font></font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Selling, general and administrative expenses for the second quarter of fiscal 2015 increased $0.4 million to $58.4 million.&#160;&#160;As a percentage of net sales, these expenses decreased to 25.6 percent compared to 26.1 percent in the second quarter of fiscal 2014.</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Net earnings for the second quarter of fiscal 2015 were $4.8 million, or $0.24 per diluted share.&#160;&#160;For the second quarter of fiscal 2014, the Company reported net earnings of $2.6 million, or $0.13 per diluted share.</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Net sales during the first six months of fiscal 2015 increased $22.8 million to $480.6 million as compared to the same period last year.&#160;&#160;Comparable store sales for the twenty-six week period ended August 1, 2015, increased 1.8 percent.&#160;&#160;Net earnings for the first six months of fiscal 2015 were $15.2 million, or $0.76 per diluted share, compared to net earnings of $11.7 million, or $0.58 per diluted share, in the first six months of fiscal 2014.&#160;&#160;The gross profit margin for the first six months of fiscal 2015 was 29.3 percent compared to 28.8 percent in the same period last year.&#160;&#160;Selling, general and administrative expenses, as a percentage of net sales, were 24.1 percent for the first six months of fiscal 2015 compared to 24.5 percent during the same period in fiscal 2014.&#160;&#160;The Company opened 12 stores and closed 12 stores during the first six months of fiscal 2015 as compared to opening 23 stores and closing 1 store in the first six months of fiscal 2014.</font></font></font></font></font></font></font></font></font></font></font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">Fiscal 2015 Earnings Outlook</font></font></font></font></font></font></font></font></font></font></font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><br>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company continues to expect fiscal 2015 net sales to be in the range of $977 million to $991 million, with a comparable store sales increase in the range of 1.5 percent to 3.0 percent. Earnings per diluted share for the fiscal year are expected to be in the range of $1.42 to $1.48. This represents an increase of 12 percent to 17 percent over fiscal 2014 earnings per diluted share of $1.27.</font></font></font></font></font></font></font></font></font></font></font></font></div>

<div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><br>
</font></font></font></font></font></font></font></font></font></font></font><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Store Growth</font></font></font></font></font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company&#160;expects to open 21 new stores and&#160;close&#160;15&#160;stores closings&#160;in fiscal 2015.&#160;&#160;Store openings and closings by quarter for the fiscal year&#160;are as follows:</font></font></font></font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The&#160;five new stores opened during the&#160;second quarter include locations in:</font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">Total Stores in the Market</font></font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">4</font></div>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">7</font></div>
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<td valign="top" width="30%"><font size="3" style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;Mays Landing, NJ</font></td>
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<td valign="top" width="20%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;Philadelphia</font></td>
<td valign="top" width="7%"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="top" width="20%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">7</font></td>
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<td valign="top" width="30%"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;Moorestown, NJ</font></td>
<td valign="top" width="7%"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="top" width="20%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&#160;Philadelphia</font></td>
<td valign="top" width="7%"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="top" width="20%" style="TEXT-ALIGN: center"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">7</font></td>
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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline">Today, at 4:30 p.m. Eastern Time, the Company will host a conference call to discuss the second quarter results.&#160;&#160;Participants can listen to the live webcast of the call by visiting Shoe Carnival's Investors webpage 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 the Company&#8217;s website beginning approximately two hours after the conclusion of the conference call and will be archived for one year.</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">About Shoe Carnival</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline">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 September 1, 2015, the Company operates 400 stores in 34 states and Puerto Rico, and offers online shopping at www.shoecarnival.com.&#160;&#160;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 <font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">www.shoecarnival.com</font>.</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Cautionary Statement Regarding Forward-Looking Information</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline">This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties.&#160;&#160;A number of factors could cause our actual results, performance, achievements or industry results to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.&#160;&#160;These factors include, but are not limited to: general economic conditions in the areas of the continental United States and Puerto Rico in which our stores are located; the effects and duration of economic downturns and unemployment rates; changes in the overall retail environment and more specifically in the apparel and footwear retail sectors; our ability to generate increased sales at our stores; the potential impact of national and international security concerns on the retail environment; changes in our relationships with key suppliers; the impact of competition and pricing; our ability to successfully manage and execute our marketing initiatives and maintain positive brand perception and recognition; changes in weather patterns, consumer buying trends and our ability to identify and respond to emerging fashion trends; the impact of disruptions in our distribution or information technology operations; the effectiveness of our inventory management; the impact of hurricanes or other natural disasters on our</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline">stores, as well as on consumer confidence and purchasing in general; risks associated with the seasonality of the retail industry; the impact of unauthorized disclosure or misuse of personal and confidential information about our customers, vendors and employees; our ability to manage our third-party vendor relationships; our ability to successfully execute our growth strategy, including the availability of desirable store locations at acceptable lease terms, our ability to open new stores in a timely and profitable manner, including our entry into major new markets, and the availability of sufficient funds to implement our growth plans; higher than anticipated costs associated with the closing of underperforming stores; our ability to successfully grow our e-commerce business; the inability of manufacturers to deliver products in a timely manner; changes in the political and economic environments in China, Brazil, Europe and East Asia, where the primary manufacturers of footwear are located; the impact of regulatory changes in the United States and the countries where our manufacturers are located; the continued favorable trade relations between the United States and China and the other countries which are the major manufacturers of footwear; the resolution of litigation or regulatory proceedings in which we are or may become involved; and our ability to meet our labor needs while controlling costs; and other factors described in the Company&#8217;s SEC filings, including the Company&#8217;s latest Annual Report on Form 10-K.</font></font></font></font></font></font></font></font></font></font></font></font></div>

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<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: normal; DISPLAY: inline">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 &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;seeks,&#8221; &#8220;pro forma,&#8221; &#8220;anticipates,&#8221; &#8220;intends&#8221; 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></font></font></font></font></font></font></font></font></div>

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</font></font></font></font></font></font></font></font></font><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Financial Tables Follow</font></font></font></font></font></font></font></font></font></div>
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<td valign="bottom" width="2%" style="BORDER-TOP: medium none; PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
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<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">227,822&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">222,073&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">480,589&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">457,843&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;Cost of sales (including buying,</font></td>
<td align="right" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;&#160;&#160;&#160; distribution and occupancy costs)</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">161,548&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">159,854&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">339,626&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">326,042&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Gross profit</font></div>
</td>
<td align="right" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">66,274&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">62,219&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">140,963&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">131,801&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;Selling, general and administrative</font></td>
<td align="right" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right">&#160;</td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right">&#160;</td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;&#160;&#160;&#160; expenses</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">58,397&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">57,955&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">116,056&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">112,328&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Operating income</font></div>
</td>
<td align="right" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right">7,877&#160;</td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">4,264&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">24,907&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,473&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Interest income</font></div>
</td>
<td align="right" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right">(31)</td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right">(3)</td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right">(34)</td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right">(9)</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Interest expense</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">42&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">41&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right">84&#160;</td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">83&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Income before income taxes</font></div>
</td>
<td align="right" valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">7,866&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">4,226&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">24,857&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,399&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Income tax expense</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">3,049&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">1,642&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">9,644&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">7,664&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Net income</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">4,817&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">2,584&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">15,213&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">11,735&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Net income per share:</font></div>
</td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;&#160;&#160;Basic</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.24&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.13&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.76&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.58&#160; </font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;&#160;&#160;Diluted</font></div>
</td>
<td align="right" valign="bottom" width="2%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.24&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.13&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.76&#160; </font></td>
<td nowrap valign="bottom" width="2%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.58&#160; </font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Weighted average shares:</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;&#160; Basic</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,593&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,856&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,590&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,908&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;&#160; Diluted</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,606&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,869&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,604&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">19,923&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="10%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="48%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">Cash dividends declared per share</font></td>
<td valign="bottom" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.065&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.06&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.125&#160;</font></td>
<td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="10%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline">0.12&#160;</font></td>
</tr></table>
</div>
</div>

<div>&#160;</div>

<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial Note:</font></div>

<div>&#160;</div>

<div><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Per share amounts&#160;are computed independently for each quarter of the fiscal year.&#160; The sum of the quarters may not equal the total year due to the impact of changes in weighted shares outstanding and differing applications of earnings under the two-class method.</font></div>

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

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

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

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

<div id="HDR">
<div id="GLHDR" style="WIDTH: 100%" align="right"><font style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">&#160; </font></div>

<div style="WIDTH: 100%" align="left">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></div>
</div>
</div>
</div>

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

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

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(In thousands)</font><br>
</div>

<div align="left">
<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="67%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">August&#160;1,</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;2015</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">January 31, </font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">2015</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">August&#160;2,</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><font style="FONT-WEIGHT: bold; DISPLAY: inline">ASSETS</font></font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Current Assets</font>:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="9%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Cash and cash equivalents</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">39,503&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">61,376&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">32,686&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td valign="bottom" width="67%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160; Accounts receivable&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">2,449&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">2,928&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">3,808&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Merchandise inventories</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">349,037&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">287,877&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">337,648&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Deferred income taxes</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">1,154&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">957&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">852&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Other</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">9,093&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">5,991&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">12,876&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Total Current Assets</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">401,236&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">359,129&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">387,870&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Property and equipment-net</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">105,817&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">101,294&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">100,648&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Deferred income taxes</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: right">7,003&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: right">4,227&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: right">7,164&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Other noncurrent assets</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">831&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">366&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">432&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Total Assets</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">514,437&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">465,016&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">496,114&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="67%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">LIABILITIES AND SHAREHOLDERS' EQUITY</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Current Liabilities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Accounts payable</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">95,934&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">67,999&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">105,721&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Accrued and other liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">20,740&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">15,123&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">19,396&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Total Current Liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">116,674&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">83,122&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">125,117&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Deferred lease incentives</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">30,411&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">29,908&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">26,426&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Accrued rent</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">11,137&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">10,505&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">10,115&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Deferred compensation</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">10,313&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">9,901&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">9,105&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Other</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">370&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">382&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">202&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Total Liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">168,905&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">133,818&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="TEXT-ALIGN: right">170,965&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="67%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Total Shareholders' Equity</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">345,532&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">331,198&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">325,149&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="67%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Total Liabilities and Shareholders' Equity</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">514,437&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">465,016&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="8%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">496,114&#160; </font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr></table>
</div>

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

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

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

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">(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="74%" style="PADDING-BOTTOM: 3px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 3px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: center">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Twenty-six</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Weeks Ended</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">August&#160;1, 2015</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 3px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%" style="PADDING-BOTTOM: 3px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="11%" style="BORDER-BOTTOM: black 2px solid; PADDING-BOTTOM: 1px; TEXT-ALIGN: center">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Twenty-six</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">Weeks Ended</font></div>

<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">August 2</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">, 2014</font></div>
</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 3px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline">&#160;</font></td>
</tr><tr>
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Cash flows from operating activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td colspan="2" valign="bottom" width="11%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Net income</font></div>
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<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">15,213&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">11,735&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Adjustments to reconcile net income to net cash&#160;(used in) provided by&#160;operating activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;Depreciation and amortization</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">11,378&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">9,518&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;Stock-based compensation</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">1,752&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">1,812&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;Loss on retirement and impairment of assets</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">422&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">267&#160; </font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;Deferred income taxes</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(2,973)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(3,382)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;Lease incentives</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">2,628&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">3,060&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;Other</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(1,804)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(42)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;Changes in operating assets and liabilities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Accounts receivable</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">230&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">529&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Merchandise inventories</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(61,160)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(52,847)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Accounts payable and accrued liabilities</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">34,369&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">47,439&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">(3,116)</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">(8,918) </font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="74%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Net&#160;cash (used in)&#160;provided by&#160;operating activities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">(3,061)</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">9,171&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="74%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Cash flows from investing activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Purchases of property and equipment</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(16,679)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(19,730)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; &#160;Proceeds from sale of property and equipment</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: right">&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: right">&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160; Proceeds from notes receivable</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">250&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">250&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="74%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Net cash used in investing activities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">(16,429)</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">(19,480)&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="74%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Cash flows from financing activities:</font></div>
</td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Proceeds from issuance of stock</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">128&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">155&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Dividends paid</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(2,497)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(2,430)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Excess tax benefits from stock-based compensation</font></div>
</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">32&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">35&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160; Purchase of common stock for treasury</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: right">0&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: 4px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
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<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;&#160;&#160;Shares surrendered by employees to pay taxes on restricted stock</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">(46)</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">(18)</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="74%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">&#160;</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Net cash used in&#160;financing activities</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">(2,383)</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">(5,258)</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="white">
<td valign="bottom" width="74%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td align="left" valign="bottom" width="74%">
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</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(21,873)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
<td align="right" valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right">(15,567)</td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left">&#160;</td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Cash and cash equivalents at beginning of period</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right">61,376&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">48,253&#160; </font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="#cceeff">
<td valign="bottom" width="74%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160; </font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="1%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="9%" style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
</tr><tr bgcolor="white">
<td align="left" valign="bottom" width="74%" style="PADDING-BOTTOM: 2px">
<div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">Cash and cash equivalents at end of period</font></div>
</td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right">39,503&#160;</td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td align="right" valign="bottom" width="1%" style="PADDING-BOTTOM: 2px"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
<td valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;$</font></td>
<td valign="bottom" width="9%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">32,686&#160; </font></td>
<td nowrap valign="bottom" width="1%" style="PADDING-BOTTOM: 2px; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">&#160;</font></td>
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