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<SEC-DOCUMENT>0001042167-04-000016.txt : 20040120
<SEC-HEADER>0001042167-04-000016.hdr.sgml : 20040119
<ACCEPTANCE-DATETIME>20040120112523
ACCESSION NUMBER:		0001042167-04-000016
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20040115
ITEM INFORMATION:		
ITEM INFORMATION:		Financial statements and exhibits
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20040120

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STRATTEC SECURITY CORP
		CENTRAL INDEX KEY:			0000933034
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				391804239
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			0627

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25150
		FILM NUMBER:		04531536

	BUSINESS ADDRESS:	
		STREET 1:		3333 WEST GOOD HOPE ROAD
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53209
		BUSINESS PHONE:		4142473333

	MAIL ADDRESS:	
		STREET 1:		3333 W GOOD HOPE ROAD
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53209
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>janstrattecform8-k.htm
<DESCRIPTION>JAN 2004 STRATTEC FORM 8-K
<TEXT>
<HTML><HEAD><TITLE>Jan 2004 Strattec Form 8-K</TITLE><!-- Licensed to: Reinhart Boerner Van Deuren s.c.--><!-- Document Created using EDGARIZER HTML --><!-- Copy Right 2003 EDGARfilings, Ltd., an IEC company.--><!-- All rights reserved EDGARfilings.com -->
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<DIV>
<DIV>&nbsp;</DIV>
<DIV><BR>
<DIV></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">SECURITIES AND EXCHANGE COMMISSION</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">WASHINGTON, DC 20549</FONT> </DIV>
<DIV align=left><BR></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">__________________</FONT> </DIV>
<DIV align=left><BR></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">FORM 8-K</FONT> </DIV>
<DIV align=left><BR></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">CURRENT REPORT</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">PURSUANT TO SECTION 13 OR 15(d) OF THE</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">SECURITIES EXCHANGE ACT OF 1934</FONT> </DIV>
<DIV align=left><BR></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Date of Report (Date of earliest event reported):&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">January 15, 2004</FONT> </DIV>
<DIV align=center><BR></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STRATTEC SECURITY CORPORATION&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Exact name of registrant as specified in its charter)</FONT> </DIV>
<DIV align=left><BR></DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR>
<TD align=middle width="50%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Wisconsin</FONT> </DIV></TD></TR>
<TR>
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&nbsp;</TD></TR>
<TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(State or other jurisdiction of incorporation)</FONT> </DIV></TD></TR></TABLE>
<DIV align=left><BR></DIV>
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<TD vAlign=bottom align=middle width="24%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">0-25150</FONT> </DIV></TD>
<TD align=left width="24%">&nbsp;
<DIV align=left>&nbsp;</DIV></TD>
<TD vAlign=bottom align=middle width="24%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">39-1804239</FONT> </DIV></TD></TR>
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&nbsp;</TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Commission File Number)</FONT> </DIV></TD>
<TD align=left width="24%">&nbsp;
<DIV align=left>&nbsp;</DIV></TD>
<TD vAlign=top align=middle width="24%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(I.R.S. Employer I.D. Number)</FONT> </DIV></TD></TR></TABLE>
<DIV align=left><BR></DIV>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
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<TD align=middle width="36%">
<DIV align=center>&nbsp;</DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3333 West Good Hope Road</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Milwaukee, WI</FONT> </DIV></TD>
<TD align=left width="12%">&nbsp;
<DIV align=left>&nbsp;</DIV></TD>
<TD align=middle width="24%">
<DIV align=center>&nbsp;</DIV>
<DIV align=center>&nbsp;</DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">53209</FONT> </DIV></TD></TR>
<TR>
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<TD vAlign=top width="12%"></TD>
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<TR>
<TD vAlign=top align=middle width="36%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Address of Principal Executive Offices)</FONT> </DIV></TD>
<TD align=left width="12%">&nbsp;
<DIV align=left>&nbsp;</DIV></TD>
<TD vAlign=top align=middle width="24%">
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Zip Code)</FONT> </DIV></TD></TR></TABLE>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(414) 247-3333</FONT> </DIV></TD></TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Registrant's telephone number; including area code)</FONT> </DIV>
<DIV align=center>&nbsp;</DIV></TD></TR></TABLE>
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<DIV align=left>&nbsp;</DIV></TD></TR>
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<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=right width="33%"><FONT size=1>&nbsp;</FONT></TD></TR>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Item 7. Financial Statements, Pro Forma Financial Information and Exhibits</FONT> </DIV>
<DIV align=left><BR></DIV>
<DIV align=left><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(c)</FONT> <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Exhibits</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -108pt; LINE-HEIGHT: 12pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 108pt; TEXT-INDENT: -108pt; LINE-HEIGHT: 12pt; MARGIN-RIGHT: -9pt; WHITE-SPACE: pre" align=left><FONT id=TAB1 style="MARGIN-LEFT: 72pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">99.1--Press Release of STRATTEC SECURITY CORPORATION, issued January 15, 2004.</FONT> </DIV>
<DIV align=left><BR></DIV>
<DIV align=left><BR></DIV>
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">Item 9. Regulation FD Disclosure and Item 12. Results of Operations and Financial Condition</FONT> </DIV>
<DIV align=left><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 12pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">On January 15, 2004, STRATTEC SECURITY CORPORATION issued a press release (the "Press Release") announcing results for the fiscal second quarter ended December 28, 2003. A copy of the Press Release is attached as Exhibit&nbsp;99.1 to this report. The attached Exhibit 99.1 is furnished pursuant to Item&nbsp;9 and Item 12 of Form 8-K. </FONT></DIV>
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<DIV align=left>&nbsp;</DIV></TD></TR>
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<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>2&nbsp;</FONT></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">SIGNATURE</FONT> </DIV>
<DIV align=center><BR></DIV>
<DIV align=left><FONT id=TAB1 style="MARGIN-LEFT: 36pt"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">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 thereunto duly authorized.</FONT> </DIV>
<DIV align=left><BR></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.35pt; MARGIN-RIGHT: -49.5pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">STRATTEC SECURITY CORPORATION</FONT> </DIV>
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Date:&nbsp; January 19, 2004</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.35pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">BY</FONT>&nbsp; <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">/s/&nbsp; Patrick J. Hansen__________________</FONT> </DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 234pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.35pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Patrick J. Hansen, Vice President </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 234pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.35pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">and Chief Financial Officer</FONT> </DIV>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>janstrattecexhibit99-1.htm
<DESCRIPTION>STRATTEC EXHIBIT 99.1 TO JAN FORM 8-K
<TEXT>
<HTML><HEAD><TITLE>Strattec Exhibit 99.1 to Jan Form 8-K</TITLE><!-- Licensed to: Reinhart Boerner Van Deuren s.c.--><!-- Document Created using EDGARIZER HTML --><!-- Copy Right 2003 EDGARfilings, Ltd., an IEC company.--><!-- All rights reserved EDGARfilings.com -->
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Exhibit 99.1</FONT> </DIV>
<DIV align=left>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.35pt; MARGIN-RIGHT: 0pt; WHITE-SPACE: pre" align=left><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">FOR RELEASE AT 3:00 CST</FONT> </DIV>
<DIV align=right><BR></DIV>
<DIV align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Contact: Pat Hansen</FONT> </DIV>
<DIV align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Vice President and</FONT> </DIV>
<DIV align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Chief Financial Officer</FONT> </DIV>
<DIV align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">414-247-3435</FONT> </DIV>
<DIV align=right><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">www.strattec.com</FONT> </DIV>
<DIV align=right><BR></DIV>
<DIV align=right><BR></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">STRATTEC SECURITY CORPORATION</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">REPORTS FISCAL SECOND QUARTER RESULTS</FONT> </DIV>
<DIV align=center><BR></DIV>
<DIV align=left><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Milwaukee, Wisconsin &#150; January 15, 2004 -- STRATTEC SECURITY CORPORATION (NASDAQ:STRT) today reported operating results for the fiscal second quarter ended December 28, 2003.</FONT> </DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Net sales for the Company&#146;s second quarter ended December 28, 2003 were $50.0 million, compared to net sales of $48.7 million for the second quarter ended December 29, 2002. Net income for the period was $4.6 million, compared to $4.0 million in the prior year quarter. Diluted earnings per share for the period were $1.21 compared to $1.05 in the prior year quarter.</FONT> </DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">For the six months ended December 28, 2003, net sales were $94.4 million compared to net sales of $96.6 million in the prior year period. Net income was $8.2 million in both six month periods and diluted earnings per share were $2.15 compared to $2.11.</FONT> </DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Overall sales to STRATTEC&#146;s largest customers decreased slightly in the current quarter compared to the prior year quarter levels. Sales to General Motors and Ford Motor Company decreased, with General Motors at $14.0 million compared to $15.7 million and Ford at $9.7 million compared to $10.1 million. Mitsubishi Motor Manufacturing of America, Inc. remained flat at $2.1 million, while DaimlerChrysler increased to $9.5 million compared to $8.1 million, and Delphi Corporation increased to $8.0 million compared to $7.5 million in the prior year quarter. Sales to heavy truck and other industrial customers modestly increased compared to the prior year quarter as did aftermarket sales.</FONT> </DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Gross profit margins were 24.2 percent in the current quarter compared to 22.5 percent in the prior year quarter. The gross profit margin improvement during the current quarter was attributed primarily to our on-going manufacturing process improvement initiatives, along with a favorable Mexican peso to U.S. dollar exchange rate and product mix.</FONT> </DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Operating expenses were $5.0 million in the current quarter, compared to $4.6 million in the prior year quarter, and $4.9 million in the first quarter.</FONT> </DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">During the current quarter, the Company repurchased 20,000 STRATTEC SECURITY CORPORATION shares under the Company&#146;s stock repurchase program at a cost of $1.1 million.</FONT> </DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">STRATTEC SECURITY CORPORATION designs, develops, manufactures and markets mechanical locks, electro-mechanical locks and related access control products for North American and other global automotive manufacturers.</FONT> </DIV>
<DIV align=justify><BR></DIV>
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman, serif">Certain statements contained in this release contain &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words or phrases such as &#147;anticipate,&#148; &#147;believe,&#148; &#147;could,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;may,&#148; &#147;planned,&#148; &#147;potential,&#148; &#147;should,&#148; &#147;will,&#148; and &#147;would.&#148; Such forward-looking statements in this release are inherently subject to many uncertainties in the Company&#146;s operations and business environment. These uncertainties include general economic conditions, in particular, relating to the automotive industry, consumer demand for the Company&#146;s and its customers&#146; products, competitive and technological developments, customer purchasing actions, foreign c
urrency fluctuations, and costs of operations. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances occurring after the date of this release. In addition, such uncertainties and other operational matters are discussed further in the Company&#146;s quarterly and annual filings with the Securities and Exchange Commission.</FONT> </DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">STRATTEC SECURITY CORPORATION</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Results of Operations</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(In Thousands except per share amounts)</FONT> </DIV>
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<DIV style="MARGIN-LEFT: 18pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman, serif">Second Quarter Ended</FONT>&nbsp;&nbsp;</DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman, serif">Six Months Ended</FONT> </DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 11.35pt; MARGIN-RIGHT: -0.9pt; WHITE-SPACE: pre" align=left>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%"><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">December 28, 2003</FONT></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="15%" colSpan=2>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">December 29, 2002</FONT> </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="15%" colSpan=2>
<P align=center>&nbsp;<FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">December 28, 2003</FONT> </P></TD>
<TD vAlign=bottom align=left width="17%" colSpan=4><FONT size=2><FONT size=3>&nbsp;</FONT>December 29, 2002</FONT> </TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="28%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="32%" colSpan=5>
<HR width="100%" noShade SIZE=2>

<DIV style="MARGIN-LEFT: 18pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman, serif">(Unaudited)</FONT>&nbsp;&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="32%" colSpan=6>
<HR width="100%" noShade SIZE=2>

<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman, serif">(Unaudited)</FONT>&nbsp;&nbsp;&nbsp;</DIV></TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Net Sales</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">50,014</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">48,680</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">94,434</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">96,586</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Cost of Goods Sold</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">37,912</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">37,742</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">71,874</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">74,295</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="28%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Gross Profit</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">12,102</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">10,938</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">22,560</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">22,291</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"></FONT>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Engineering, Selling &amp; </FONT></DIV>Administrative Expenses</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,983</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,571</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">9,901</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">9,182</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="28%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Income from Operations</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">7,119</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">6,367</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">12,659</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">13,109</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">&nbsp; </TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Interest Income</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">88</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">85</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">177</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">183</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">
<DIV align=left>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Interest Expense</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">-</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">-</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">-</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">-</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">&nbsp; </TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Other Income (Expense), Net</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">184</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(45</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">)</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">286</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(248</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">)</FONT> </DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="28%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">&nbsp; </TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">7,391</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">6,407</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">13,122</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">13,044</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">&nbsp; </TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Provision for Income Taxes</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2,772</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2,371</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,921</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,827</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="28%"></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Net Income</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,619</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"></FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">4,036</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">8,201</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">8,217</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="28%"></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Earnings Per Share:</FONT> </DIV></TD>
<TD width="2%"></TD>
<TD vAlign=bottom align=left width="1%"></TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%"></TD>
<TD vAlign=bottom align=left width="1%"></TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="2%"></TD>
<TD vAlign=bottom align=left width="1%"></TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%"></TD>
<TD vAlign=bottom align=left width="1%"></TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%"></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Basic</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1.23</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1.07</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2.18</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2.15</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="28%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Diluted</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1.21</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1.05</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2.15</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2.11</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="28%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="15%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Average Basic</FONT> </DIV>Shares Outstanding</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,765</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,756</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,762</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,816</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Average Diluted</FONT> </DIV>Shares Outstanding</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,824</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,832</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,821</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,889</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"></FONT>&nbsp;</DIV>
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Other</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="28%">
<HR align=left width="75%" noShade SIZE=2>
</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Capital Expenditures</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,926</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">576</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,022</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,373</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="28%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Depreciation &amp; Amortization</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,942</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,953</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,959</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="14%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">3,916</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="28%">&nbsp; </TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="14%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="16%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></DIV>
<P>
<TABLE id=PGBRK cellSpacing=0 cellPadding=0 width="100%" border=0>
<TR>
<TD vAlign=bottom width="100%" colSpan=3>
<DIV align=left>&nbsp;</DIV></TD></TR>
<TR>
<TD align=left width="33%"><FONT size=1>&nbsp;</FONT></TD>
<TD align=middle width="33%"><FONT size=1>&nbsp;2</FONT></TD>
<TD align=right width="33%"><FONT size=1>&nbsp;</FONT></TD></TR>
<TR>
<TD colSpan=3><FONT size=1>
<HR width="100%" noShade SIZE=1>
</FONT></TD></TR>
<TR>
<TD vAlign=bottom width="100%" colSpan=3>&nbsp;</TD></TR></TABLE></P>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif; TEXT-DECORATION: underline">STRATTEC SECURITY CORPORATION</FONT> </DIV>
<DIV align=center><BR></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Condensed Balance Sheet Data</FONT> </DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(In Thousands)</FONT> <BR></DIV>
<P>
<TABLE id=10001 cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="71%">
<DIV style="MARGIN-LEFT: 18pt" align=center>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="12%" colSpan=2>
<P align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">December 28, </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp;2003</FONT> &nbsp;</P></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="6%" colSpan=2>
<P align=center>&nbsp;&nbsp; <FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">June 29,</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2003</FONT> </P></TD>
<TD vAlign=bottom align=left width="7%"></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom width="71%">
<DIV style="MARGIN-LEFT: 18pt" align=center>&nbsp;</DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="25%" colSpan=4>
<DIV style="MARGIN-LEFT: 18pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman, serif">(Unaudited)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">ASSETS</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Current Assets:</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">&nbsp;
<DIV>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">&nbsp;
<DIV>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Cash and cash equivalents</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">36,332</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">29,902</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="71%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Receivables, net</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">28,688</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">31,173</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Inventories</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">10,090</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">7,884</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Other current assets</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">10,646</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">12,127</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Total Current Assets</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">85,756</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">81,086</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Deferred Income Taxes</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,973</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,973</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Investment in Joint Venture</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,379</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">1,141</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Property, Plant and Equipment, Net</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">32,797</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">33,894</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp; </FONT></DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">121,905</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">118,094</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%"></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">LIABILITIES AND SHAREHOLDERS&#146; EQUITY</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">&nbsp; </TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">&nbsp; </TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Current Liabilities:</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">&nbsp;
<DIV>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">&nbsp;
<DIV>&nbsp;</DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="71%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Accounts Payable</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">17,551</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">13,990</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp; Other</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">11,995</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">15,819</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="71%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Total Current Liabilities</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">29,546</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">29,809</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom align=left width="71%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Accrued Pension and Post Retirement Obligations</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">15,251</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">19,190</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom align=left width="71%">
<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Shareholders&#146; Equity</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">179,453</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">169,953</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Less: Treasury Stock</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(102,345</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">)</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(100,858</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">)</FONT> </DIV></TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom width="71%">
<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Total Shareholders&#146; Equity</FONT> </DIV></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp; </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">77,108</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">69,095</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=2>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#e2eef6>
<TD vAlign=bottom width="71%"></TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">121,905</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=left width="1%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">$</FONT> </DIV></TD>
<TD vAlign=bottom align=right width="11%">
<DIV><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">118,094</FONT> </DIV></TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR>
<TR bgColor=#ffffff>
<TD vAlign=bottom width="71%">&nbsp;</TD>
<TD width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="2%">&nbsp;</TD>
<TD vAlign=bottom align=right width="12%" colSpan=2>
<HR width="100%" noShade SIZE=4>
</TD>
<TD vAlign=bottom align=left width="1%">&nbsp;</TD></TR></TABLE></P>
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