<SUBMISSION>
<ACCESSION-NUMBER>0000916002-04-000087
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20041108
<ITEMS>2.02
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20041109
<DATE-OF-FILING-DATE-CHANGE>20041108
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>MGP INGREDIENTS INC
<CIK>0000835011
<ASSIGNED-SIC>2040
<IRS-NUMBER>480531200
<STATE-OF-INCORPORATION>KS
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-17196
<FILM-NUMBER>041127171
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1300 MAIN ST
<CITY>ATCHISON
<STATE>KS
<ZIP>66002
<PHONE>9133671480
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1300 MAIN STREET
<CITY>ATCHISON
<STATE>KS
<ZIP>66002
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>MIDWEST GRAIN PRODUCTS INC
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>FORM 8-K</TITLE>
</HEAD>
<BODY>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
UNITED STATES <BR>
SECURITIES AND EXCHANGE COMMISSION </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Washington, D. C. 20549 </FONT></H1>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
FORM 8-K </FONT></H1>

<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
CURRENT REPORT </FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </FONT></H1>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Date of Report (Date of earliest event reported)<B> November 8, 2004</B> </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
<B>MGP Ingredients, Inc. </B></FONT><BR>
<FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(Exact name of registrant as specified in its charter) </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR ALIGN=CENTER VALIGN=TOP>
<TD WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
<B>KANSAS</B></FONT></TD>
<TD WIDTH=34%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
<B>0-17196</B></FONT></TD>
<TD WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
<B>48-0531200</B></FONT></TD>
</TR>
<TR ALIGN=CENTER VALIGN=TOP>
<TD WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
(State or other jurisdiction</FONT></TD>
<TD WIDTH=34%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
(Commission</FONT></TD>
<TD WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
(IRS Employer</FONT></TD>
</TR>
<TR ALIGN=CENTER VALIGN=TOP>
<TD WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
of incorporation)</FONT></TD>
<TD WIDTH=34%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
File Number)</FONT></TD>
<TD WIDTH=33%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
Identification No.)</FONT></TD>
</TR>
</TABLE>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>
1300 Main Street <BR>
Box 130 <BR>
Atchison, Kansas 66002</B><BR>
(Address of principal executive offices) (Zip Code) </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>
(913) 367-1480 </B><BR>
(Registrant&#146;s telephone number, including area code) </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>
Not Applicable </B><BR>
(Former name or former address, if changed since last report) </FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below): </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
[&nbsp;&nbsp;&nbsp;] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425) </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
[&nbsp;&nbsp;&nbsp;] Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12) </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
[&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
[&nbsp;&nbsp;&nbsp;] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></P>


<HR SIZE=5 COLOR=GRAY NOSHADE>


<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
Item 2.02 Results of Operations and Financial Conditions. </FONT></H1>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On November 8, 2004, MGP Ingredients, Inc. (the &#147;Company&#148;) issued a
press release, incorporated into this Item 2.02 by reference, relating to
financial results for the first quarter of fiscal year 2005, which ended
September 30, 2004. The press release, dated November 8, 2004, is furnished
pursuant to Item 2.02, &#147;Results of Operations and Financial Conditions,&#148;
Item 7.01, &#147;Regulation FD Disclosure&#148; and Item 9.01, &#147;Financial
Statements and Exhibits.&#148; </FONT></P>

<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
Item 7.01 Regulation FD Disclosure. </FONT></H1>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Attached as Exhibit 99.1, and incorporated into this Item 7.01 by reference, is a press release
relating to the Company&#146;s fiscal 2005 first quarter financial results which was
issued on November 8, 2004, by the Company. </FONT></P>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An investors&#146; conference call will take place at 10:00 a.m. central standard time on
Tuesday, November 9, 2004. The Company&#146;s senior management will discuss the
Company&#146;s fiscal 2005 first quarter financial results and certain forward looking
information during the conference call. Interested persons may listen to the conference
call via telephone by dialing (800) 322-0079 by 9:50 a.m., or access it on the Internet at
www.mgpingredients.com. </FONT></P>

<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
Item 9.01 Financial Statements and Exhibits. </FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
(c)&nbsp;&nbsp;&nbsp;&nbsp;<I>Exhibits</I>. </FONT></P>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
<B>99.1</B> </FONT></TD>
<TD WIDTH=80%><P ALIGN=JUSTIFY><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
Press Release dated November 8, 2004, furnished solely for the purpose of incorporation by
reference into Items 7.01 and 9.01. </FONT></P></TD>
</TR>
</TABLE>
<BR>

<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
SIGNATURES </FONT></H1>

<P ALIGN="JUSTIFY"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>


<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
<B>MGP INGREDIENTS, INC.</B></FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
Date: November 8, 2004</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
By:<U>/s/&nbsp;Laidacker M. Seaberg
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR VALIGN=TOP>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laidacker M. Seaberg<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>


<HR SIZE=5 COLOR=GRAY NOSHADE>


<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
INDEX TO EXHIBITS </FONT></H1>

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp; </FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
<B>99.1</B> </FONT></TD>
<TD WIDTH=80%><P ALIGN=JUSTIFY><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
Press Release dated November 8, 2004, furnished solely for the purpose of incorporation by
reference into Items 7.01 and 9.01. </FONT></P></TD>
</TR>
</TABLE>
<BR><BR>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>pressrelease.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>PRESS RELEASE</TITLE>
</HEAD>
<BODY>

<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR>
<TD WIDTH=50% ALIGN=LEFT VALIGN=TOP><FONT FACE="Arial, Helvetica, Serif" SIZE=1>
<IMG SRC="graphic1.jpg"><BR>
1300 Main Street, P.O. Box 130&nbsp;&#149;&nbsp;Atchiston, Kansas 66002-0130<BR>
913.367.1480&nbsp;&#149;&nbsp;800.255.0302&nbsp;&#149;&nbsp;Fax 913.367.0192<BR>
www.mgpingredients.com&nbsp;&#149;&nbsp;Symbol/Market: MGPI/NASDAQ</FONT></TD>
<TD WIDTH=50% ALIGN=RIGHT VALIGN=MIDDLE><FONT FACE="Arial, Helvetica, Serif" SIZE=7>
NEWS&nbsp;&nbsp;<BR>
RELEASE</FONT></TD>
</TR>
</TABLE>

<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
Contact:&nbsp;&nbsp;Steve Pickman at 913-367-1480</FONT></P><BR><BR>

<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>FOR IMMEDIATE RELEASE:
<B>MGPI ANNOUNCES FIRST QUARTER RESULTS </B></FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>ATCHISON, Kan., November 8, 2004</B>&#151;<B>MGP Ingredients, Inc. (Nasdaq: MGPI)</B> today reported
results for its fiscal 2005 first quarter ended September 30, 2004. Net income for the
quarter was $291,000, or $0.02 per share, on sales of $68,878,000. That compares to net
income of $2,470,000, or $0.16 per share, on sales of $57,054,000 for the same period the
prior year. The earnings per share data for the prior year&#146;s quarter has been
adjusted to reflect MGPI&#146;s two-for-one stock split that went into effect after the
close of business on June 30. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Fiscal 2004 first quarter earnings included $1,920,000 of pre-tax income ($1,162,000 net of
income taxes) that the company received under a United States Department of Agriculture
program that was implemented in December, 2000 to provide cash incentives for ethanol
producers who increase their grain usage over comparable quarters to raise fuel alcohol
production. In the first quarter of fiscal 2005, the company received $363,000 pre-tax
($220,000 net of income taxes) under this program, which extends through September, 2006.
MGPI&#146;s eligibility to participate in the program is determined from quarter to
quarter. The company expects that funds received under the program during the remaining
three quarters of fiscal 2005 will be less than were received during the corresponding
quarters of fiscal 2004. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The company&#146;s results for last year&#146;s first quarter also included approximately $5.7
million of business interruption insurance proceeds resulting from the September 13, 2002
distillery explosion at the company&#146;s Atchison, Kansas plant. These proceeds were
recorded in other operating income for that period. No such proceeds were received by the
company in the first quarter of fiscal 2005. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Strong results in the company&#146;s distillery products segment and within some specialty
ingredient lines in the current year&#146;s first quarter were offset by higher operating
costs, including increased grain prices and utility costs, and higher selling, general and
administrative expenses compared to the first quarter of the prior fiscal year, noted Ladd
Seaberg, president and chief executive officer. &#147;Our results also reflected a decline
in sales of low-carb related products, particularly our Fibersym&#153; 70 resistant wheat
starch, compared to the level we experienced in the immediately preceding fourth
quarter,&#148; Seaberg said. &#147;As discussed previously, demand for lower net
carbohydrate products slowed during the first quarter, resulting in reduced specialty
ingredients sales across a higher operating cost base in place to accommodate previously
high demand. We have taken steps to reduce our operating cost exposure while we monitor
sales patterns in that product area. We are committed to maintaining a flexible operating
structure that corresponds closely to our market opportunities. We will continue to
allocate resources to support growth in our specialty ingredients business, where the
beneficial effect on our profit margins is well-established. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Referring to the company&#146;s June 3, 2004 guidance of anticipated fiscal 2005 earnings of $1.03
to $1.08 per share (adjusted for the recent 2-for-1 stock split), Seaberg stated that the
estimate was as of the date given and is not being confirmed or updated at this time.
&#147;In light of current instability of market demand for some of our ingredients,
management has chosen to postpone updating guidance until a more consistent pattern of
order activity emerges,&#148; he said. </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
-more- </FONT></P>


<HR SIZE=5 COLOR=GRAY NOSHADE>


<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
ADD 1&#151;MGPI ANNOUNCES FIRST QUARTER RESULTS </FONT></H1>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Although down compared to the fourth quarter of fiscal 2004, total sales of the company&#146;s
ingredients experienced a 4 percent increase versus last year&#146;s first quarter. The
improvement compared to a year ago was due to a 19 percent rise in sales of specialty
ingredients. Meanwhile, in line with the company&#146;s strategy to place increased
emphasis on specialty ingredients, sales of commodity ingredients were reduced by 46
percent. The increase in specialty ingredients sales compared to a year ago was driven
partially by sales of the Company&#146;s Arise&reg; line of wheat protein isolates which
are produced for use in bakery and related products. Sales of the company&#146;s
Fibersym&#153; line of resistant starches, while substantially below their fiscal 2004
fourth quarter level, also were up compared to last year&#146;s first quarter when MGPI
introduced this product line to the marketplace. Demand for the company&#146;s
Wheatex&reg; line of textured wheat proteins, which principally are used in meat analog
and meat extension applications, also increased compared to the prior year&#146;s first
quarter </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the non-food area, sales of the Company&#146;s Polytriticum&#153; lines of grain-based
resins, which are used mainly in the manufacture of pet chews, also rose compared to the
prior year&#146;s first quarter and on a sequential quarter basis, driven by strong demand
for unique pet chew products in the marketplace. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Favorable response to our differentiated resin technology within the pet industry continues to
accelerate,&#148; continued Seaberg. &#147;We are investing in our Polytriticum&#153;
product lines to more fully leverage our market opportunity in this fast growing segment.
These include the addition of equipment and processes that will allow us to further
penetrate the market with new and existing customers.&#148; </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Driven by a 51 percent increase in fuel grade alcohol revenues, total sales of the company&#146;s
distillery products rose by approximately $10.9 million, or 31 percent, compared to the
first quarter of fiscal 2004. Sales of food grade alcohol for industrial applications
increased $4.1 million, or 106 percent, and sales of food grade alcohol for beverage
applications rose by 3 percent. Distillers feed sales increased by approximately $2.1
million, or 34 percent, over the prior year due to increased alcohol production and higher
prices. There were no sales of unfinished alcohol in the current year&#146;s first
quarter, in contrast to $6.3 million in sales of unfinished alcohol during the first
quarter of fiscal 2004 when production at the Atchison facility was affected by the
September 13, 2002 distillery explosion. Prices of corn and milo, MGPI&#146;s principal
raw material for the alcohol production process, were up approximately 13 percent compared
to last year&#146;s first quarter. However, corn and milo prices have declined since the
end of the current year&#146;s first quarter due to positive crop conditions during the
growing and harvesting seasons. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Complete sales and pre-tax income data by segments for the first quarter ended September 30 follow
below. Pre-tax operating income for each segment is based on net sales less identifiable
operating expenses. Interest expense, investment income and other general miscellaneous
expenses have been excluded from segment operations and classified as Corporate: </FONT></P>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;<BR><B><U>
Sales</U></B></FONT></TD>
<TD WIDTH="20%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
<B>1<SUP>st </SUP>QTR.<BR>
<U>FY 2005</U></B> </FONT></TD>
<TD WIDTH="10%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
<B>1<SUP>st </SUP>QTR.<BR>
<U>FY 2004</U></B> </FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
Ingredients Segment</FONT></TD>
<TD WIDTH="20%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
$22,754,000</FONT></TD>
<TD WIDTH="10%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
$21,917,000</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
Distillery Products Segment</FONT></TD>
<TD WIDTH="20%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;46,124,000</FONT></TD>
<TD WIDTH="10%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;35,137,000</FONT></TD></TR>
</TABLE><BR>


<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;<BR><B><U>
Pre-tax income (loss)</U></B></FONT></TD>
<TD WIDTH="20%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="10%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
Ingredients Segment</FONT></TD>
<TD WIDTH="20%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
$(115,000)</FONT></TD>
<TD WIDTH="10%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="20%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
$2,571,000</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
Distillery Products Segment</FONT></TD>
<TD WIDTH="20%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;&nbsp;&nbsp;874,000</FONT></TD>
<TD WIDTH="10%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;1,905,000</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
Corporate</FONT></TD>
<TD WIDTH="20%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;(278,000)</FONT></TD>
<TD WIDTH="10%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
&nbsp;&nbsp;(395,000)</FONT></TD></TR>
</TABLE>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
-more- </FONT></P>


<HR SIZE=5 COLOR=GRAY NOSHADE>


<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
ADD 2&#151;MGPI ANNOUNCES FIRST QUARTER RESULTS </FONT></H1>

<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&#147;Looking ahead toward the balance of fiscal 2005, prices for corn and milo have continued to
decline more substantially since the end of the first quarter,&#148; Seaberg said.
&#147;Also, to reduce our exposure to additional increases in natural gas prices caused by
heightened demand in the winter months, we have contracted the majority of our anticipated
gas supply requirements through February, 2005.&#148; Seaberg added that interest in
healthier food options, including whole grain nutrition and meat alternatives,
&#147;continues to gain momentum,&#148; both in the U.S. and abroad. &#147;These
well-established trends transcend shorter term interest in dieting, and point to a larger
trend toward healthier lifestyles,&#148; he continued. &#147;This is the market
opportunity we are targeting, and we will do so through continued investments in R&amp;D,
marketing and process engineering that result in a strong, differentiated product pipeline
and greater customer opportunities. At the same time, we will pursue a number of
initiatives to generate greater cash flows through improving our plant utilization and
working capital management.&#148; </FONT></P>

<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The company will host an investor conference call on Tuesday, November 9, at 10 a.m. central
time to review the first quarter results. Stockholders and other interested parties may
listen to the call via telephone by dialing 800-322-0079 by 9:50 a.m. central time on
November 9, or access it on the Internet at www.mgpingredients.com. </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>This news release contains
forward-looking statements as well as historical information. Forward-looking statements
are identified by or are associated with such words as &#147;intend,&#148;
&#147;believe,&#148; &#147;estimate,&#148; &#147;expect,&#148; &#147;anticipate,&#148;
&#147;hopeful,&#148; &#147;should,&#148; &#147;may&#148; and similar expressions. They
reflect management&#146;s current beliefs and estimates of future economic circumstances,
industry conditions, company performance and financial results and are not guarantees of
future performance. The forward-looking statements are based on many assumptions and
factors, including those relating to grain prices, gasoline prices, energy costs, product
pricing, competitive environment and related marketing conditions, operating efficiencies,
access to capital, actions of governments or government officials and actions of insurers.
Any changes in the assumptions or factors could produce materially different results than
those predicted and could impact stock values.</B> </FONT></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
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`
end

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>eps.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>1ST QUARTER NUMBERS</TITLE>
</HEAD>
<BODY>

<H1><FONT FACE="Times New Roman, Times, Serif" SIZE=3>
MGP INGREDIENTS, INC. </FONT></H1>

<H1><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
CONSOLIDATED STATEMENT OF EARNINGS </FONT></H1>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
<TD WIDTH="40%"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
(unaudited)</FONT></TD>
<TD WIDTH="30%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
Three Months Ended September 30</B></FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
(Dollars in thousands, except per share)</FONT></TD>
<TD WIDTH="15%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004</B></FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2003</B></FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="5">
<TR VALIGN="TOP">
<TD WIDTH="40%"> <HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
NET SALES</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"> <HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
$&nbsp;&nbsp;&nbsp;&nbsp;68,878&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
$&nbsp;&nbsp;&nbsp;&nbsp;57,054&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
COST OF SALES</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63,804&nbsp;&nbsp;&nbsp;&nbsp;</U></B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55,367&nbsp;&nbsp;&nbsp;</U></FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
GROSS PROFIT</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,074&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,687&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,882&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,698&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
OTHER OPERATING INCOME</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286&nbsp;&nbsp;&nbsp;&nbsp;</U></B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,090&nbsp;&nbsp;&nbsp;</U></FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
INCOME FROM OPERATIONS</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,079&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
OTHER INCOME (EXPENSE)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
OTHER INCOME (NET)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
INTEREST EXPENSE</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(306)&nbsp;&nbsp;&nbsp;</U></B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(279)&nbsp;&nbsp;&nbsp;</U></FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
INCOME BEFORE INCOME TAXES</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,081&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
PROVISION FOR INCOME TAXES</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190&nbsp;&nbsp;&nbsp;&nbsp;</U></B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,611&nbsp;&nbsp;&nbsp;</U></FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
NET INCOME</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,470&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
OTHER COMPREHENSIVE LOSS</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(313)&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(30)&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
COMPREHENSIVE INCOME (LOSS)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22)&nbsp;&nbsp;&nbsp;&nbsp;</U></B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,440&nbsp;&nbsp;&nbsp;</U></FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
BASIC EARNINGS PER COMMON SHARE</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;0.02&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;0.16&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
DILUTED EARNINGS PER COMMON SHARE</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;0.02&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;0.16&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="30%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>
</TABLE><BR><BR>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="2">
<TR VALIGN="TOP">
<TD WIDTH="40%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">
<B>Weighted average shares outstanding-Basic</B> </FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT">
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">
<B>15,932,913</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER">
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">
<B>&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT">
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">
<B>15,332,404</B> </FONT></TD>
<TD WIDTH="30%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>&nbsp;&nbsp;</B> </FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="40%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">
<B>Weighted average shares outstanding-Diluted</B> </FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT">
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">
<B>16,648,019</B> </FONT></TD>
<TD WIDTH="5%" ALIGN="CENTER">
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">
<B>&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT">
<FONT FACE="Times New Roman, Times, Serif" SIZE="1">
<B>15,371,474</B> </FONT></TD>
<TD WIDTH="30%">
<FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>&nbsp;&nbsp;</B> </FONT></TD></TR>
</TABLE><BR><BR>

<H1><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
CONSOLIDATED BALANCE SHEETS</FONT></H1>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="2">
<TR VALIGN="TOP">
<TD WIDTH="25%"> <HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
(unaudited)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>Sept. 30</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>June 30</B> </FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
(unaudited)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>Sept. 30</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>June 30</B> </FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
(Dollars in thousands)</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>2004</B>&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>2003</B>&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
(Dollars in thousands)</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>2004</B>&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>2003</B>&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>ASSETS</B></FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>LIABILITIES AND</B></FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><HR SIZE=1 NOSHADE><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<B>STOCKHOLDERS' EQUITY</B></FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
CURRENT ASSETS</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
CURRENT LIABILITIES</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>

<TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="5">
<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
$&nbsp;&nbsp;&nbsp;4,771</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
$&nbsp;&nbsp;&nbsp;6,488</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">
Current maturities of long-term debt</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
$&nbsp;&nbsp;10,382</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
$&nbsp;&nbsp;&nbsp;3,201</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivables</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,907</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;34,243</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
Accounts payable</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;8,655</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;10,576</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39,172</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;32,775</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
Accrued expenses</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;5,395</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,815</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
Deferred income</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;&nbsp;&nbsp;12,183</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,598</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
3,081</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
828</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
Income taxes payable</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
2,129</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
2,423</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
2,090</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
2,090</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes receivable</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;-</U></B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;-</U></FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Total Current Liabilities</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
$&nbsp;&nbsp;38,744</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
$&nbsp;&nbsp;36,613</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
Total Current Assets</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
81,021</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
76,424</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">
PROPERTY AND EQUIPMENT, At Cost</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
300,571</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
296,377</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
&nbsp;&nbsp;</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less accumulated depreciation</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;190,464</U></B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<u>187,280</u></FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
LONG-TERM DEBT</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
18,821</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
12,561</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
110,107</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
109,097</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
POST-RETIREMENT BENEFITS</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
5,985</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
5,977</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
Insurance Receivable</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
1,425</B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
1,425</FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
DEFERRED INCOME TAXES</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
12,777</B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
13,677</FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
OTHER ASSETS</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91</U></B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91</U></FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
STOCKHOLDERS' EQUITY</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>116,317</U></B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>118,209</U></FONT></TD></TR>

<TR VALIGN="TOP">
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="1">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>$&nbsp;&nbsp;192,644</U></B> </FONT></TD>
<TD WIDTH="11%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>$&nbsp;&nbsp;187,037</U></FONT></TD>
<TD WIDTH="3%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="25%"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="12%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><B>
<U>$&nbsp;192,644</U></B> </FONT></TD>
<TD WIDTH="13%" ALIGN="RIGHT"><FONT FACE="Times New Roman, Times, Serif" SIZE="2">
<U>$&nbsp;187,037</U></FONT></TD></TR>
</TABLE>





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