<SEC-DOCUMENT>0001144204-17-057278.txt : 20171108
<SEC-HEADER>0001144204-17-057278.hdr.sgml : 20171108
<ACCEPTANCE-DATETIME>20171108161040
ACCESSION NUMBER:		0001144204-17-057278
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20171108
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171108
DATE AS OF CHANGE:		20171108

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HUDSON TECHNOLOGIES INC /NY
		CENTRAL INDEX KEY:			0000925528
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MACHINERY, EQUIPMENT & SUPPLIES [5080]
		IRS NUMBER:				133641539
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13412
		FILM NUMBER:		171186705

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 1541
		STREET 2:		ONE BLUE HILL PLAZA, 14TH FLOOR
		CITY:			PEARL RIVER
		STATE:			NY
		ZIP:			10965
		BUSINESS PHONE:		8457356000

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1541
		STREET 2:		ONE BLUE HILL PLAZA, 14TH FLOOR
		CITY:			PEARL RIVER
		STATE:			NY
		ZIP:			10965

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REFRIGERANT RECLAMATION INDUSTRIES INC
		DATE OF NAME CHANGE:	19940617
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv479006_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Washington,
DC 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>CURRENT
REPORT Pursuant</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>to
Section 13 or 15(</B></FONT><B>d<FONT STYLE="text-transform: uppercase">) of the</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Securities
Exchange Act of 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify; font-size: 10pt; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date of report (Date of earliest event reported)&nbsp;&nbsp;</FONT>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify; width: 75%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>November 8, 2017</U></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid"><FONT STYLE="font-size: 14pt">Hudson
        Technologies, Inc.</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Exact Name of Registrant as Specified in Charter)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">New York</P></TD></TR>
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    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(State or Other Jurisdiction of Incorporation)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">1-13412</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">13-3641539</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Commission File Number)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(IRS Employer Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">PO Box
        1541, 1 Blue Hill Plaza, Pearl River, New York</P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">10965</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Address of Principal Executive Offices)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Zip Code)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">(845)
        735-6000</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Registrant's Telephone Number, Including Area Code)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">Not Applicable</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Former Name or Former Address, if Changed Since Last Report)</FONT></TD></TR>
<TR>
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (<I>see </I>General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Indicate by check
mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of
this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company&#9;</FONT><FONT STYLE="font-family: Wingdings">o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9;</FONT><FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in"><B>Item 2.02</B></TD><TD STYLE="text-align: justify"><B>Results of Operations and Financial Condition.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On November 8, 2017 Hudson Technologies, Inc. issued a press
release announcing its financial results for the third quarter ended September 30, 2017. A copy of the press release is furnished
herewith as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in"><B>Item 9.01</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">(d) Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><A HREF="tv479006_ex99-1.htm" STYLE="-sec-extract: exhibit">Exhibit 99.1&#9;Press Release issued November 8, 2017.</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">HUDSON TECHNOLOGIES, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: November 8, 2017</FONT></TD>
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Stephen P. Mandracchia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Stephen P. Mandracchia</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Vice President Legal &amp; Regulatory</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<TYPE>EX-99.1
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<FILENAME>tv479006_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">EXHIBIT 99.1</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase; color: Black"><B>Hudson
Technologies REPORTS REVENUES OF $24.7 Million FOR Third quarter 2017; DILUTED EPS of $0.05 </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase; color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase; color: Black"><B>Company
Also Provides UNAUDITED pro Forma Results Including RECENT Airgas-refrigerants, Inc. Acquisition</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase; color: Black"><B>pearl
river, ny &ndash; November 8, 2017 &ndash; </B></FONT><FONT STYLE="color: Black">Hudson Technologies, Inc. (NASDAQ: HDSN) announced
results for the third quarter and nine months ended September 30, 2017 as well as unaudited pro forma results for the year ended
December 31, 2016 and the six months ended June 30, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Hudson reported
revenues of $24.7 million for the third quarter ended September 30, 2017, a decrease of 29% compared to $34.9 million in the comparable
2016 period. The revenue decrease in the quarter is primarily related to decreases in both price and volume of certain refrigerants
sold. Gross margin in the third quarter of 2017 was 21% compared to 34% in the prior year period. Net income for the quarter was
$2.1 million, or $0.05 per basic and diluted share, compared to net income of $4.8 million, or $0.14 per basic and diluted share,
in the third quarter of 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">For the nine
months ended September 30, 2017, Hudson reported revenues of $115.8 million, an increase of 18% compared to $97.7 million in the
comparable 2016 period. The increase is primarily related to a higher average selling price of certain refrigerants and higher
volumes of certain refrigerants sold during the period. Gross margin of 30% for the first nine months of 2017 was slightly lower
than gross margin of 31% in the first nine months of 2016. Net income for the first nine months of 2017 was $16.4 million, or
$0.39 per basic and $0.38 per diluted share, compared to $12.6 million or $0.38 per basic and $0.37 per diluted share in 2016.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">As previously
disclosed, during the third quarter of this year Hudson expected declines in price and volume for all refrigerants. However, the
magnitude of the decline was greater than previously anticipated. Notwithstanding these trends, the Company achieved, and slightly
exceeded, its gross margin target for the entire nine-month 2017 cooling season.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Following the
close of the quarter, on October 10, 2017, Hudson announced the completion of its acquisition of Airgas-Refrigerants, Inc (&ldquo;ARI&rdquo;).
Assuming that third quarter 2017 included ARI, unaudited pro forma unaudited consolidated revenue would have been approximately
$57 million for the three months ended September 30, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">The Company
is also providing select unaudited pro forma results including ARI for the year ended December 31, 2016 and the six months ended
June 30, 2017. Additional detailed unaudited pro forma financial information is available on Form 8-K/A filed today, Wednesday
November 8, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Unaudited pro
forma revenues, including ARI, for the year ended December 31, 2016 were $239.6 million with gross margin of 30%. Unaudited pro
forma operating income was $40.2 million, or an operating margin of 17% for 2016, and unaudited pro forma net income was $17.0
million or $0.50 per basic and $0.48 per diluted share for the twelve months ended December 31, 2016. Year-end 2016 unaudited
pro forma results include a non-cash $7.4 million adjustment to cost of sales to record the amortization of the step up in inventory
to its estimated fair value, which was due to the purchase price allocation relating to the acquisition, but was not included
in the historical results of ARI.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">For the six
months ended June 30, 2017, unaudited pro forma revenues were $171.3 million with gross margin of 34%. Unaudited pro forma operating
income was $43.2 million or an operating margin of 25% and unaudited pro forma net income was $23.6 million or $0.57 per basic
and $0.54 per diluted share for the first six months of 2017. First six month 2017 unaudited pro forma results include a non-cash
$3.7 million adjustment to cost of sales to record the amortization of the step up in inventory to its estimated fair value, which
was due to the purchase price allocation relating to the acquisition, but was not included in the historical results of ARI.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">It is important
to note that during the six month period ended June 30, 2017, as detailed in these unaudited pro forma results, the industry was
experiencing significantly higher average sales price for certain refrigerants as compared to the market price during the most
recent three month period ended September 30, 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Kevin J. Zugibe,
Chairman and Chief Executive Officer of Hudson Technologies commented, &ldquo;Our acquisition of ARI in early October marks an
important milestone in the growth of our business. ARI is an established and respected company in our industry with extraordinary
people, technology and customers and their strength is becoming increasingly apparent now that we have begun working together.
Our industry-leading technology, longstanding customer relationships and robust distribution network have established Hudson as
a leader in the refrigerant and reclamation industry. The addition of ARI significantly advances our leadership position, adding
complementary products and services, enhanced distribution and sales capabilities and a more extensive geographic footprint encompassing
a broader customer base. We have considerably increased the scale of our business which will enable us to meet the needs of our
customers throughout the current phase out of HCFCs and as the industry shifts to HFCs, which have also been identified for future
phase down. We are confident in the long term opportunities ahead for our Company related to the sale and reclamation of all refrigerants
as our industry continues to evolve and adopt new technologies and gases.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&ldquo;As expected
and previously disclosed, during the third quarter we saw a downturn in both volume and pricing for all refrigerants.&nbsp; At
the time of our second quarter release, R-22 prices had decreased to approximately $18 per pound and the pricing pressure
continued through the end of the 2017 cooling season, with R-22 prices declining further to the current level of approximately
$16 to $17 per pound. Additionally, as anticipated, HFC prices also came down, further impacting our results for the third quarter.
Despite these third quarter headwinds, we were pleased to deliver revenue growth, gross margin slightly exceeding our target range
and improved profitability for the nine-month selling season.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Mr. Zugibe
continued, &ldquo;This is a transformative time for our Company and we are energized by the opportunity to leverage our best-in-class
technology, enhanced products and service capabilities and decades of industry experience to capitalize on the changes we&rsquo;re
seeing in our industry landscape. We are well positioned to take advantage of opportunities related to the industry&rsquo;s transition
to next generation refrigerants, and, as the country&rsquo;s leading reclaimer, to apply our expanded reclamation capabilities
to help fill demand for refrigerants as virgin production is phased down and eliminated.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: red"><FONT STYLE="color: Black">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black"><B>CONFERENCE
CALL INFORMATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">The Company
will host a conference call to discuss the second quarter results today, November 8, 2017 at 5:00 P.M. Eastern Time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">To access the
live webcast, please use the following link: <U>https://www.hudsontech.com/investor-relations/events-presentations/</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">To participate
in the call by phone, dial (888) 437-3179 approximately five minutes prior to the scheduled start time. International callers
please dial (404) 267-0369.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">A replay of
the teleconference will be available until December 8, 2017 and <FONT STYLE="font-size: 10pt">may be accessed by dialing (877)
481-4010</FONT>. I<FONT STYLE="font-size: 10pt">nternational callers may dial (919) 882-2331. Callers should use conference ID:
</FONT>22281<FONT STYLE="font-size: 10pt">. </FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black"><B>About Hudson
Technologies</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Hudson Technologies,
Inc. is a leading provider of innovative and sustainable solutions for optimizing performance and enhancing reliability of commercial
and industrial chiller plants and refrigeration systems. Hudson's proprietary RefrigerantSide<SUP>&reg;</SUP> Services increase
operating efficiency, provide energy and cost savings, reduce greenhouse gas emissions and the plant&rsquo;s carbon footprint
while enhancing system life and reliability of operations at the same time. RefrigerantSide<SUP>&reg;</SUP> Services can be performed
at a customer's site as an integral part of an effective scheduled maintenance program or in response to emergencies. Hudson also
offers SMARTenergy OPS<SUP>&reg;</SUP>, which is a cloud-based Managed Software as a Service for continuous monitoring, Fault
Detection and Diagnostics and real-time optimization of chilled water plants. In addition, the Company sells refrigerants and
provides traditional reclamation services for commercial and industrial air conditioning and refrigeration uses. For further information
on Hudson, please visit the Company's web site at <U>www.hudsontech.com</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>Safe Harbor Statement under the
Private Securities Litigation Reform Act of 1995</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Statements
contained herein which are not historical facts constitute forward-looking statements. These include statements regarding management&rsquo;s
intentions, plans, beliefs, expectations or forecasts for the future including, without limitation, Hudson&rsquo;s expectations
with respect to the benefits, costs and other anticipated financial impacts of the ARI transaction; future financial and operating
results of the company; and the company&rsquo;s plans, objectives, expectations and intentions with respect to future operations
and services. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which
may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements.&nbsp; Such factors include, but are not limited to, changes
in the laws and regulations affecting the industry, changes in the demand and price for refrigerants (including unfavorable market
conditions adversely affecting the demand for, and the price of, refrigerants), the Company's ability to source refrigerants,
regulatory and economic factors, seasonality, competition, litigation, the nature of supplier or customer arrangements that become
available to the Company in the future, adverse weather conditions, possible technological obsolescence of existing products and
services, possible reduction in the carrying value of long-lived assets, estimates of the useful life of its assets, potential
environmental liability, customer concentration, the ability to obtain financing, any delays or interruptions in bringing products
and services to market, the timely availability of any requisite permits and authorizations from governmental entities and third
parties as well as factors relating to doing business outside the United States, including changes in the laws, regulations, policies,
and political, financial and economic conditions, including inflation, interest and currency exchange rates, of countries in which
the Company may seek to conduct business, the Company&rsquo;s ability to successfully integrate ARI&rsquo;s operations and any
assets it acquires from other third parties into its operations, and other risks detailed in the Company's 10-K for the year ended
December 31, 2016 and other subsequent filings with the Securities and Exchange Commission. Examples of such risks and uncertainties
specific to the ARI transaction include, but are not limited to, the possibility that the expected benefits will not be realized,
or will not be realized within the expected time period. The words &quot;believe&quot;, &quot;expect&quot;, &quot;anticipate&quot;,
&quot;may&quot;, &quot;plan&quot;, &quot;should&quot; and similar expressions identify forward-looking statements.&nbsp; Readers
are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was
made.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investor Relations Contact:</B></FONT></TD>
    <TD STYLE="width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Company Contact:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">John Nesbett/Jennifer Belodeau</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Brian F. Coleman, President &amp; COO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Institutional Marketing Services (IMS)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Hudson Technologies, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(203) 972-9200</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(845) 735-6000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>jnesbett@institutionalms.com</U></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>bcoleman@hudsontech.com</U></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>Hudson Technologies,
Inc. and Subsidiaries</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>Consolidated
Income Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>(unaudited)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black">(Amounts in
thousands, except for share and per share amounts)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Three&nbsp;months</B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>ended&nbsp;September&nbsp;30,</B></FONT></P></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>Nine&nbsp;months</B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="color: Black"><B>ended&nbsp;September 30,</B></FONT></P></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 44%; font-size: 10pt; color: Black; font-weight: bold">Revenues</TD><TD STYLE="width: 2%; font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; color: Black; text-align: right">24,706</TD><TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; color: Black; text-align: right">34,930</TD><TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; color: Black; text-align: right">115,766</TD><TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; color: Black; text-align: right">97,701</TD><TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; padding-bottom: 1pt">Cost of sales</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">19,636</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">22,890</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">80,811</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">67,649</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Gross profit</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">5,070</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">12,040</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">34,955</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">30,052</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left">Operating expenses:</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; text-indent: -9pt; padding-left: 0.25in">Selling, general and administrative</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">3,473</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">3,895</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">9,823</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">8,507</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt; text-indent: -9pt; padding-left: 0.25in">Amortization</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">121</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">127</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">364</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">365</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -9pt; padding-left: 0.25in">Total operating expenses</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">3,594</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">4,022</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">10,187</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">8,872</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left">Operating income</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">1,476</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">8,018</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">24,768</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">21,180</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Interest expense</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">(24</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">)</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">(296</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">)</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">(170</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">)</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">(919</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left">Income before income taxes</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">1,452</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">7,722</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">24,598</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">20,261</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Income tax expense (benefit)</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">(652</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">)</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">2,933</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">8,236</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">7,699</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net income</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">2,104</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">4,789</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">16,362</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">12,562</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-bottom: 2.5pt">Net income per common share - Basic</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">0.05</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">0.14</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">0.39</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">0.38</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-bottom: 2.5pt">Net income per common share - Diluted</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">0.05</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">0.14</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">0.38</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">0.37</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 2.5pt; padding-left: 0.125in; text-indent: -0.125in">Weighted average number of shares outstanding - <BR>Basic</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">41,869,528</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">33,873,479</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">41,648,439</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">33,265,470</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 2.5pt; padding-left: 0.125in; text-indent: -0.125in">Weighted average number of shares outstanding - <BR>Diluted</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">43,463,982</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">35,297,585</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">43,173,427</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">34,341,930</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="color: Black">Certain account
balances have been reclassified for comparative purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">&nbsp;<B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>Hudson Technologies,
Inc. and Subsidiaries</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black"><B>Consolidated
Balance Sheets</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black">(Amounts in
thousands, except for share and par value amounts)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: center">September 30,</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: center">December 31,</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: center">(unaudited)</TD><TD STYLE="font-size: 10pt; color: Black; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; color: Black; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-decoration: underline">Assets</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left">Current assets:</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%; font-size: 10pt; color: Black; text-align: left; padding-left: 0.25in">Cash and cash equivalents</TD><TD STYLE="width: 2%; font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; color: Black; text-align: right">43,994</TD><TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; color: Black; text-align: right">33,931</TD><TD STYLE="width: 1%; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-left: 0.25in">Trade accounts receivable &ndash; net</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">13,948</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">4,797</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; padding-left: 0.25in">Inventories</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">63,810</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">68,601</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-bottom: 1pt; padding-left: 0.25in">Prepaid expenses and other current assets</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">6,555</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">847</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left">Total current assets</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">128,307</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">108,176</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">Property, plant and equipment, less accumulated depreciation</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">7,069</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">7,532</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">Deferred tax asset</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">1,874</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">2,532</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">Intangible assets, less accumulated amortization</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">2,935</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">3,299</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black">Goodwill</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">856</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">856</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-bottom: 1pt">Other assets</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">88</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">75</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Assets</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">141,129</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">122,470</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-decoration: underline; text-align: left">Liabilities and Stockholders' Equity</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left">Current liabilities:</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;&nbsp;&nbsp;Trade accounts payable</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">8,528</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">5,110</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">2,589</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">2,888</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;&nbsp;&nbsp;Accrued payroll</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">824</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">1,782</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;&nbsp;&nbsp;Income taxes payable</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">1,115</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">322</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Short-term debt and current maturities of long-term debt</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">97</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">199</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left">Total current liabilities</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">13,153</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">10,301</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Long-term debt, less current maturities</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">83</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">152</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Liabilities</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">13,236</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">10,453</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left">Commitments and contingencies</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left">Stockholders' equity:</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; text-indent: -0.1in; padding-left: 0.35in">Preferred stock, shares authorized 5,000,000: Series A Convertible preferred stock, $0.01 par value ($100 liquidation preference value); shares authorized 150,000; none issued or outstanding</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">-</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">-</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-left: 0.25in">Common stock, $0.01 par value; shares authorized 100,000,000; issued and outstanding 42,039,452 and 41,465,820</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">420</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">415</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-left: 0.25in">Additional paid-in capital</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">113,540</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">114,032</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings (accumulated deficit)</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">13,933</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">(2,430</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left; padding-bottom: 1pt">Total Stockholders' Equity</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">127,893</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: Black; text-align: right">112,017</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total Liabilities and Stockholders' Equity</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">141,129</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; color: Black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; color: Black; text-align: right">122,470</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; color: Black; text-align: left">&nbsp;</TD></TR>
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