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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001021408-03-007876.txt : 20030515
<SEC-HEADER>0001021408-03-007876.hdr.sgml : 20030515
<ACCEPTANCE-DATETIME>20030515125441
ACCESSION NUMBER:		0001021408-03-007876
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030331
FILED AS OF DATE:		20030515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENCOR INDUSTRIES INC
		CENTRAL INDEX KEY:			0000064472
		STANDARD INDUSTRIAL CLASSIFICATION:	CONSTRUCTION MACHINERY & EQUIP [3531]
		IRS NUMBER:				590933147
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11703
		FILM NUMBER:		03702725

	BUSINESS ADDRESS:	
		STREET 1:		5201 N ORANGE BLOSSOM TRAIL
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32810
		BUSINESS PHONE:		4072906000

	MAIL ADDRESS:	
		STREET 1:		5201 N ORANGE BLOSSOM
		CITY:			ORANLANDO
		STATE:			FL
		ZIP:			32810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MECHTRON INTERNATIONAL CORP
		DATE OF NAME CHANGE:	19880128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MECHTRON GENCO CORP
		DATE OF NAME CHANGE:	19720411

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MECHTRON CORP
		DATE OF NAME CHANGE:	19690909
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>d10q.htm
<DESCRIPTION>FORM 10-Q
<TEXT>
<HTML><HEAD>
<TITLE>Form 10-Q</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <HR noshade size=4 color="black" ><br> <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><b><font SIZE=4>UNITED STATES</font></b><br><b><font SIZE=4>SECURITIES AND EXCHANGE COMMISSION</font></b></p> <p
style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><b><font SIZE=2>WASHINGTON, D.C. 20549</font></b></p> <HR noshade width=120 color="black" > <p style=' margin-bottom:0pt;text-align:center; margin-top:12pt;'><b><font SIZE=4>FORM
10-Q</font></b></p> <HR noshade width=120 color="black" > <p style=' margin-bottom:0pt;text-align:center; margin-top:12pt;'><b><font size=2>(Mark One)</font></b></p> <p style='margin-bottom:0;margin-top:12pt;text-indent:0in;'><b><font size=2><font
face=Wingdings>x</font></font></b></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.5in;'><b><font SIZE=2>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 </font></b></p> <p style='
margin-bottom:0pt;text-align:center; margin-top:12pt;'><b><font size=2>FOR THE PERIOD ENDED March 31, 2003</font></b></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:12pt;'><b><font SIZE=2>OR</font></b></p> <p
style='margin-bottom:0;margin-top:12pt;text-indent:0in;'><b><font size=2><font face=Wingdings>o</font></font></b></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.5in;'><b><font SIZE=2>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934</font></b></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:12pt;'><b><font size=2>FOR THE TRANSITION PERIOD From </font></b><u><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><b><font
size=2> to </font></b><u><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u></p> <p style='
margin-bottom:0pt;text-align:center; margin-top:12pt;'><b><font size=2>Commission file number 0-3821</font></b></p> <HR noshade width=120 color="black" > <p style=' margin-bottom:0pt;text-align:center; margin-top:8pt;'><b><font SIZE=5>GENCOR
INDUSTRIES, INC.</font></b></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:0pt;'><b><font size=1>(Exact name of registrant as specified in its charter)</font></b></p> <HR noshade width=120 color="black" >
<table width="100%" cellspacing=0 cellpadding=0>
<tr>
<td width="50">&nbsp;</td>
<td align=center valign=top width="280"><b><font size=2>Delaware</font></b><br> <b><font size=1>(State or other jurisdiction of</font></b><br> <b><font size=1>incorporated or organization)</font></b><br></td>
<td align=center width="280">&nbsp;</td>
<td align=center valign=top width="280"><b><font size=2>59-0933147</font></b><br> <b><font size=1>(I.R.S. Employer</font></b><br> <b><font size=1>Identification No.)</font></b></td>
<td width="50">&nbsp;</td></tr></table><br>
<table width="100%" cellspacing=0 cellpadding=0>
<tr>
<td width="50">&nbsp;</td>
<td align=center valign=top width="280"><b><font size=2>5201 North Orange Blossom Trail, Orlando, Florida</font></b><br> <b><font size=1>(Address of principal executive offices)</font></b><br></td>
<td align=center width="280">&nbsp;</td>
<td align=center valign=top width="280"><b><font size=2>32810</font></b><br> <b><font size=1>(Zip Code)</font></b></td>
<td width="50">&nbsp;</td></tr></table><br> <p style=' margin-bottom:0pt;text-align:center; margin-top:12pt;'><b><font size=2>(407) 290-6000</font></b><br><b><font size=1>(Registrant&#146;s telephone number, including area code)</font></b></p> <p
style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities and Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.</font></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:12pt;'><font
size=2>Yes <font face=Wingdings>x</font> No <font face=Wingdings>o</font></font></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the
Exchange Act.)</font></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:12pt;'><font size=2>Yes <font face=Wingdings>o</font> No <font face=Wingdings>x</font></font></p> <br><p style='margin-bottom:0pt;text-align:left'><font size=2>
</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Indicate number of shares outstanding of each of the issuer&#146;s classes of common stock as of the latest practicable date.</font></p>
<table width="100%" cellspacing=0 cellpadding=0>
<tr>
<td width="50">&nbsp;</td>
<td align=center valign=top width="280"><u><b><font size=1>Class</font></b></u><br> <font size=2>Common stock, $.10 par value</font><br> <font size=2>Class B stock, $.10 par value</font><br></td>
<td align=center width="280">&nbsp;</td>
<td align=center valign=top width="280"><u><b><font size=1>Outstanding at May 14, 2003</font></b></u><br> <font size=2>6,884,070 shares</font><br> <font size=2>1,798,398 shares</font></td>
<td width="50">&nbsp;</td></tr></table><br> <br><HR noshade size=4 color="black" > <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>2</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>
<a name="toc"></a></font></b></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font SIZE=2>GENCOR INDUSTRIES, INC.</font></b></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>Index</font></b></p> <p
style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><u><b><font size=1>Page</font></b></u><b><u></u></b></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=2>Part I.</font></b></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td colspan="3" valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><b><font size=2>Financial Information</font></b></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Item 1.</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Financial Statements</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'>
<a href="#tx554_1"><u><font size=2>Condensed consolidated balance sheets</font></u></a><font size=2> &#150; March 31, 2003 (Unaudited) and September 30, 2002</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>4</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'>
<a href="#tx554_2"><u><font size=2>Unaudited condensed consolidated income statements</font></u></a><font size=2> &#150; Three- and Six-months ended March 31, 2003 and 2002</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>5</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'>
<a href="#tx554_3"><u><font size=2>Unaudited condensed consolidated statements of cash flows</font></u></a><font size=2> &#150; Six-months ended March 31, 2003 and 2002</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>6</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'>
<a href="#tx554_4"><u><font size=2>Notes to unaudited condensed consolidated financial statements</font></u></a></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>7</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Item 2.</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'>
<a href="#tx554_5"><u><font size=2>Management&#146;s Discussion and Analysis of Financial Position and Results of Operations</font></u></a></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>10</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Item 3.</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'>
<a href="#tx554_6"><u><font size=2>Quantitative and Qualitative Disclosure of Market Risk</font></u></a></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>12</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Item 4.</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'>
<a href="#tx554_7"><u><font size=2>Controls and Procedures</font></u></a></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>13</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=2>Part II.</font></b></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td colspan="3" valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><b><font size=2>Other Information</font></b></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Item 5.</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'>
<a href="#tx554_8"><u><font size=2>Submission of Matters to a vote of Security Holders</font></u></a></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>14</font></p> </td> </tr>
<tr style='height:.05in'>
<td width="11%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top style=' height:.05in'> <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style=' height:.05in'> <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="11%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="9%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Item 6.</font></p> </td>
<td width="1%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td valign=top > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'>
<a href="#tx554_9"><u><font size=2>Exhibits and Reports on Form 8-K</font></u></a></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>15</font></p> </td> </tr> </table> <br>
<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td valign=bottom > <p style='margin-top:0pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><b>
<a href="#tx554_10"><u><b><font size=2>Signatures</font></b></u></a></b></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;text-align:right;'><font size=2>16</font></p> </td> </tr> </table> <br> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>3</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>Part I. Financial Information</font></b></p> <p style='margin-bottom:0;margin-top:12pt;text-indent:0in;'><b><font size=2>Item 1.</font></b></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.75in;'><b><font size=2>Financial Statements</font></b></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font size=2>
<a name="tx554_1">Condensed Consolidated Balance Sheets</a></font></b><br><i><font size=2>In thousands, except share amounts</font></i></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>March 31</font></b><br> <b><font size=1>2003</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="10%" colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>September 30</font></b><br> <b><font size=1>2002</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>(Unaudited)</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="10%" colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;text-align:center;'><b><font SIZE=2>ASSETS</font></b></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p >&nbsp;</p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'>&nbsp;</p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'>&nbsp;</p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p >&nbsp;</p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'>&nbsp;</p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'>&nbsp;</p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p >&nbsp;</p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;'><font size=2>Current assets:</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Cash and cash equivalents</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>18,020</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>12,305</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Accounts receivable, less allowance for doubtful accounts of $1,194 ($1,234 at September 30, 2002)</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,974</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,512</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Inventories</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>17,804</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>19,012</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Prepaid expenses</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,593</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,938</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Total current assets</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>46,391</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>41,767</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Property and equipment, net</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>15,327</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>15,693</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Goodwill, net of accumulated amortization </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>364</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>364</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Other assets</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>4,201</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>4,360</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Total assets</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>66,283</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>62,184</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;text-align:center;'><b><font size=2>LIABILITIES AND SHAREHOLDERS&#146; EQUITY</font></b></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p >&nbsp;</p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'>&nbsp;</p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'>&nbsp;</p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p >&nbsp;</p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'>&nbsp;</p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'>&nbsp;</p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p >&nbsp;</p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;'><font size=2>Current liabilities:</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Notes payable</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>196</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>196</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Current portion of long-term debt</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>5,243</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>6,068</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Accounts payable</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,387</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>9,000</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Customer deposits</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,217</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>498</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Income and other taxes payable</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>6,004</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,534</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Accrued expenses</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>10,187</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>9,947</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Total current liabilities</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>33,234</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>29,243</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Long-term debt</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>19,210</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>24,337</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Other liabilities</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,309</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,309</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Total liabilities</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>55,753</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>56,889</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;'><font size=2>Shareholders&#146; equity:</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Preferred stock, par value $.10 per share; authorized 300,000 shares; none issued</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> &#151; </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Common stock, par value $.10 per share; 15,000,000 shares authorized; 6,971,470 shares issued</font></p>
</td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>697</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>697</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Class B stock, par value $.10 per share; 6,000,000 shares authorized: 1,890,398 shares issued</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>189</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>189</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Capital in excess of par value</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>11,343</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>11,343</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Retained Earnings</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>6,130</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>883</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Accumulated other comprehensive loss</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(6,030</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(6,018</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Subscription receivable from officer</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(95</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (95</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Common stock in treasury, 179,400 shares at cost</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(1,704</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(1,704</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>10,530</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>5,295</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Total liabilities and shareholders&#146; equity</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="7%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>66,283</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>62,184</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr> </table> <br> <p style=' margin-bottom:0pt;text-align:center; margin-top:18pt;'><i><font size=2>See notes to unaudited condensed consolidated financial
statements.</font></i></p> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>4</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font SIZE=2>GENCOR INDUSTRIES, INC.</font></b><br><b><font size=2>
<a name="tx554_2">Unaudited Condensed Consolidated Income Statements</a></font></b><br><i><font size=2>In thousands, except per share amounts</font></i></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p> <p style='
margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="17%" colspan="5" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="17%" colspan="5" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>Six Months Ended</font></b><br> <b><font size=1>March 31</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="5" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="5" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2003</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2002</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2003</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2002</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Net sales</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>20,916</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>22,433</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>34,190</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>33,305</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;'><font size=2>Costs and expenses:</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Costs of products sold</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>15,558</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>16,160</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>25,982</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>25,020</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Product engineering and development</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>463</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>429</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>873</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>850</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Selling, general and administrative </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,261</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,234</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>6,372</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>6,267</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Restructuring costs</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>302</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>19,282</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>19,823</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>33,227</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>32,439</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Operating income </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,634</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>2,610</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>963</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>866</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;'><font size=2>Other income (expense):</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Interest income</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>38</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>33</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>66</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>74</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Interest expense</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(451 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(553</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(943</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(1,183</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Income from investees</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>4,409</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,061</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,648</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,526</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Miscellaneous</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>2</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>89</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(53 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>72</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,998</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>630</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>7,718</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> 489</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Income from continuing operations before income taxes</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>5,632</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,240</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,681</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,355</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Income taxes</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,956</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,170</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,434</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>571</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Income from continuing operations</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,676</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>2,070</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>5,247</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>784</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;'><font size=2>Discontinued operations </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Income from discontinued operations, net of income taxes</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> 6</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>167</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Net income</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,676</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>2,076</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>5,247</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>951</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;'><font size=2>Per common share:</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;'><font size=2>Basic:</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Income from continuing operations</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.42</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.24</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.60</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.09</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Discontinued operations</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.00</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.02</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Net income</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.42</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.24</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.60</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.11</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;'><font size=2>Diluted:</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Income from continuing operations</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.42</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.22</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.60</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.08</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Discontinued operations</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.00</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151; </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.02</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-left:0.12in;text-indent:-0.12in;margin-top:2pt;margin-bottom:0pt;' ><font size=2>Net income</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.42</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.22</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.60</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.10</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr> </table> <br> <p style=' margin-bottom:0pt;text-align:center; margin-top:18pt;'><i><font size=2>See notes to unaudited condensed consolidated financial
statements.</font></i></p> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>5</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font SIZE=2>GENCOR INDUSTRIES, INC.</font></b><br><b><font size=2>
<a name="tx554_3">Unaudited Condensed Consolidated Statements of Cash Flows</a></font></b><br><i><font size=2>In thousands</font></i></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="18%" colspan="5" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>Six Months Ended</font></b><br> <b><font size=1>March 31</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="5" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2003</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2002</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Operating activities:</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Net income </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>5,247 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>951 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:17.3pt;text-indent:-8.65pt;'><font size=2>Adjustments to reconcile net income to cash provided by (used for) operating activities:</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Depreciation and amortization</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>475 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>829 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Income from investees</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(8,648 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (1,526 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Write-off deferred loan costs</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>43 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Bad debt expense</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>148 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> &#151;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Other noncash items</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> &#151;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(120 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Change in assets and liabilities net of disposed business</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:34.55pt;text-indent:-8.65pt;'><font size=2>Accounts receivable</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(567 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (3,081 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:34.55pt;text-indent:-8.65pt;'><font size=2>Inventories</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,205 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (1,326 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:34.55pt;text-indent:-8.65pt;'><font size=2>Prepaid expenses</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>351 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>641 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:34.55pt;text-indent:-8.65pt;'><font size=2>Other assets</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>113 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(164 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:34.55pt;text-indent:-8.65pt;'><font size=2>Accounts payable</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(707 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (1,978 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:34.55pt;text-indent:-8.65pt;'><font size=2>Customer deposits</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>2,717 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,772 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:34.55pt;text-indent:-8.65pt;'><font size=2>Income and other taxes payable</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>2,470 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>811 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:34.55pt;text-indent:-8.65pt;'><font size=2>Accrued expenses and other</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>239 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(398 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:.6in;text-indent:-8.65pt;'><font size=2>Total adjustments</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(2,204 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (4,497 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Net cash provided by (used for) operating activities</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,043 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (3,546 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Investing activities:</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Distributions from unconsolidated investees</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,648 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,526 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Capital expenditures</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (63 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(197 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Net cash provided by investing activities</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,585 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,329 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Financing activities:</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:25.9pt;text-indent:-8.65pt;'><font size=2>Repayment of debt</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(5,953 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (1,199 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Net cash used for financing activities</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(5,953 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (1,199 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Effect of exchange rate changes on cash and cash equivalents</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>40 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>(125 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Increase (decrease) in cash and cash equivalents</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>5,715 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2> (3,541 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=2>)</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Cash and cash equivalents, beginning of period</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>12,305 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>14,158 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Cash and cash equivalents, end of period</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>18,020 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>10,617 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr> </table> <br> <p style=' margin-bottom:0pt;text-align:center; margin-top:18pt;'><i><font size=2>See notes to unaudited condensed consolidated financial
statements.</font></i></p> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>6</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font SIZE=2>GENCOR INDUSTRIES, INC.</font></b></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>
<a name="tx554_4">Notes to Unaudited Condensed Consolidated Financial Statements</a></font></b><br><i><b><font size=2>All amounts in thousands, except per share amounts</font></b></i></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font
size=2>Note 1 &#150; Basis of Presentation</font></b></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting
principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for
complete financial statements. In the opinion of management, all material adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three- and six-month
periods ended March 31, 2003 are not necessarily indicative of the results that may be expected for the year ended September&nbsp;30, 2003.</font></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>The balance sheet at September 30,
2002 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements.</font></p> <p style='
margin-bottom:0pt; margin-top:8pt;'><font size=2>For further information, refer to the consolidated financial statements and footnotes thereto included in the Gencor Industries, Inc. Annual Report on Form 10-K for the year ended September 30,
2002.</font></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>Note 2 &#150; Inventories</font></b></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>The components of inventory consist of the following:</font></p> <p
style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>March 31</font></b><br> <b><font size=1>2003</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="10%" colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>September 30</font></b><br> <b><font size=1>2002</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Raw materials</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,548 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>9,235 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Work in process</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,787 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,267 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Finished goods</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>4,198 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>4,261 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Used equipment</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>1,271 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="8%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>2,249 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>17,804 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="8%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>19,012 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr> </table> <br> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>7</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>Note 3 &#150; Earnings Per Share Data</font></b></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>The following table sets forth the
computation of basic and diluted earnings per share:</font></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="17%" colspan="5" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>Three Months Ended</font></b><br> <b><font size=1>March 31</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="15%" colspan="5" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>Six Months Ended </font></b><br> <b><font size=1>March 31</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="5" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="5" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;' ><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2003</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2002</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2003</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=bottom > <p style='text-align:center;margin-top:2pt;margin-bottom:0pt;'><b><font size=1>2002</font></b></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td colspan="2" valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Income from continuing operations</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,676 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>2,070 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>5,247 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>784 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Income from discontinued operations</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>6 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>167 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Net income </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>3,676 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>2,076 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>5,247 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>951 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Denominator (shares in thousands):</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Weighted average shares outstanding</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,682 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,682 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,682 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,682 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Effect of dilutive stock options</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>754 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>377 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Denominator for diluted EPS computation</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,682 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>9,436 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>8,682 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>9,059 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Per common share:</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Basic:</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Continuing operations</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.42 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.24 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.60 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.09 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Discontinued operations</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.02 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Net income</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.42 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.24 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.60 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.11 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Diluted:</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom > <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Continuing operations</font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.42 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.22 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.60 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom > <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.08 </font></p> </td>
<td width="2%" valign=bottom > <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Discontinued operations</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>&#151;</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.02 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=bottom style='background:#CCEEFF; '> <p style='margin-top:2pt;margin-bottom:0pt;margin-left:8.65pt;text-indent:-8.65pt;'><font size=2>Net income</font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.42 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="6%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.22 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF;'> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.60 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td>
<td width="1%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>$</font></p> </td>
<td width="5%" valign=bottom style='background:#CCEEFF; '> <p style='text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=2>0.10 </font></p> </td>
<td width="2%" valign=bottom style='background:#CCEEFF; '> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td valign=top > <hr noshade width="100%" color="black" size=3> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td> </tr> </table> <br> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>The weighted average diluted common shares outstanding for the first two quarters of 2003 and the
first quarter of 2002 exclude approximately 1,616,000 and 1,676,000 stock options respectively, due to their antidilutive effect. </font></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>Note 4 &#150; Comprehensive Income
(Loss)</font></b></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Total comprehensive income for the three-and six-months ended March 31, 2003 was $3,579 and $5,235 respectively, which compares favorably to the total comprehensive
income for the three- and six-months ended March 31, 2002 of $1,916 and $1,374, respectively. Total comprehensive income differs from net income due to gains and losses resulting from foreign currency translation, which are reflected separately in
the shareholders&#146; equity section of the balance sheet under the caption &#147;Accumulated other comprehensive loss.&#148; Gains and losses resulting from foreign currency transactions are included in income. </font></p> <br><p
style='margin-bottom:0pt;text-align:center'><font
size=2>8</font></p>
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 <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>Note 5 &#150; Income From Investees</font></b></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>During the first and second quarter of
fiscal 2003, the Company received cash distributions of $4,239 and $4,409, respectively, from its 45% interest in Carbontronics LLC and 25% interest in Carbontronics II LLC and Carbontronics Fuels LLC. These interests were obtained as part of
contracts to build four synthetic fuel production plants during 1998. The Company has no basis in these investments nor requirement to provide future funding. Any income arising from these investments is dependent upon tax credits (adjusted for
operating losses at the fuel plants) being generated as a result of synthetic fuel production, which will be recorded as received. During the first and second quarter of fiscal 2002, the Company received distributions of $465 and $1,061,
respectively. </font></p> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>9</font></p>
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 <p style='margin-bottom:0;margin-top:12pt;text-indent:0in;'><b><font size=2>Item 2.</font></b></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.75in;'><b><font size=2>
<a name="tx554_5">Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations</a></font></b></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><i><font size=2>Results of Operations</font></i></p> <p style='
margin-bottom:0pt; margin-top:8pt;'><font size=2>Net sales for the six-months ended March 31, 2003 and 2002 were $34.2 million and $33.3 million, respectively an increase of $.9 million or 2.7%. Domestic sales for the six-month period of fiscal 2003
were $25.2 million reflecting a $3.4 million increase from year ago levels. The increase in domestic sales is primarily due to the recovery of our industry from the September 11 events. Decreased asphalt plant orders at one of the Company&#146;s
wholly owned U.K. subsidiaries partially offset the increase in domestic sales. Net sales for the second quarter of fiscal 2003 reflected a decrease of approximately $1,517 over the same period of the previous year. The foreign operations accounted
for $782 of the decline due to unfavorable market conditions in the U.K. and increased competition in the Asian market. Domestic sales for the second quarter decreased by $735 from year ago levels, due to a delay in two customer shipments.
</font></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Gross margins as a percent of net sales declined by 1.0% during the six-months ended March 31, 2003 from year ago levels. Domestic margins decreased 3.4% during the second
quarter of fiscal 2003 as compared to the same period one year ago, due to LIFO inventory valuation adjustments in fiscal 2003. Gross margins from foreign sales declined the first six-months of fiscal 2003, but were consistent with prior year for
the three months ended March 31, 2003.</font></p> <p style='margin-bottom:0;margin-top:8pt;text-indent:0in;'><font size=2>Product engineering and development costs increased $34 and $23</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0in;text-indent:4in;'><font size=2>during the three- and six-month periods ended 2003. The increase reflects the increase in domestic sales during the first six-months of fiscal 2003. There were
no significant changes in selling, general and administrative expenses during the three and six-month periods ended March 31, 2003.</font></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Restructuring costs, primarily legal and
professional fees relating to the reorganization were $302 during the first six-months of fiscal 2002. There were no restructuring costs for the first six-months of fiscal 2003.</font></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><i><font
size=2>Other Income (Expense) </font></i></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Interest expense declined $240 for the six-month period of fiscal 2003 from the pervious year, reflecting the reduction in the debt balance and
lower interest rates.</font></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Distributions from investments in Carbontronics LLC, Carbontronics II LLC, and Carbontronics Fuels LLC, were $4,239 and $4,409 in the first and second
quarters of 2003 versus $465 and $1,061 for the same periods of fiscal 2002.</font></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Income tax expense increased by $2.9 million for the six-month period of fiscal 2003, reflecting the
increase in pre-tax income. </font></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><i><font size=2>Liquidity and Capital Resources</font></i></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>On December 27, 2001, the Company and
its Senior Secured Lenders signed an Amended and Restated Senior Secured Credit Agreement, which specifies monthly principal payments of $320 beginning December 2001 and continuing through July 2002, then increasing to $400 in August 2002 and
continuing to August 2005, with the remaining balance due September 6, 2005. It is management&#146;s intention to refinance any remaining balance. The interest rate during the term of the loan is based upon the prime rate plus 2%. During fiscal
2002, the Company paid $4,000 in principal and during the first six months of fiscal 2003, paid an additional $5,703. The Amended and Restated Secured Credit Agreement includes certain other financial and restrictive covenants.</font></p> <br><p
style='margin-bottom:0pt;text-align:center'><font
size=2>10</font></p>
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 <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Pursuant to its Amended Plan of Reorganization, on January 29, 2002 the Company made a principal payment of $488 on the industrial revenue bond. Monthly
principal and interest payments of $38 will continue until the balance is paid-off in March 2005. </font></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>With the Amended and Restated Credit Agreement in place, the Company&#146;s
capital structure, liquidity and working capital have significantly improved. The current ratio of 1.40:1.00 and working capital of $13.2 million at March 31, 2003 compares to the current ratio of 1.63:1.00 and working capital of $17.9 million a
year earlier, which reflects the payment of $5.7 million for debt reduction.</font></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>Cash provided (used) by operations increased from ($3.5 million) during the first six months of
fiscal 2002 to $3.0 million for the same period of fiscal 2003. The $6.5 million improvement reflects favorable net cash inflows from increases in customer deposits of $2.7 million, income taxes payable of $2.5 million and, decreases in inventories
of $1.2 million. Cash used in financing activities reflected principal payments of $5,703 against the secured loan agreements, and $250 against the Industrial Revenue Bond. </font></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><i><font
size=2>Seasonality</font></i></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>The Company is concentrated in the asphalt-related business and is subject to a seasonal slow-down during the third and fourth quarters of the calendar
year. Traditionally, the Company&#146;s customers do not purchase new equipment for shipment during the summer and fall months to avoid disrupting their peak season for highway construction and repair work. This slow-down often results in lower
reported sales and earnings and or losses during the first and fourth quarters of the Company&#146;s fiscal year ended September 30.</font></p> <p style=' margin-bottom:0pt; margin-top:12pt;'><i><font size=2>Forward-Looking
Information</font></i></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>This Form 10-Q contains certain &#147;forward-looking statements&#148; within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the
&#147;Exchange Act&#148;), which represent the Company&#146;s expectations and beliefs, including, but not limited to, statements concerning gross margins, sales of the Company&#146;s products and future financing plans. These statements by their
nature involve substantial risks and uncertainties, certain of which are beyond the Company&#146;s control. Actual results may differ materially depending on a variety of important factors, including the financial condition of the Company&#146;s
customers, changes in the economic and competitive environments and demand for the Company&#146;s products.</font></p> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>11</font></p>
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 <p style='margin-bottom:0;margin-top:12pt;text-indent:0in;'><b><font size=2>Item 3.</font></b></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.75in;'><b><font size=2>
<a name="tx554_6">Quantitative and Qualitative Disclosures About Market Risk</a></font></b></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>The Company operates manufacturing facilities and sales offices principally located in the
United States and the United Kingdom. The Company is subject to business risks inherent in non-U.S. activities, including political and economic uncertainty, import and export limitations, and market risk related to changes in interest rates and
foreign currency exchange rates. The Company&#146;s principal currency exposure against the U.S. dollar is the British pound. Periodically, the Company has used derivative financial instruments consisting primarily of interest rate hedge agreements
to manage exposures to interest rate changes. The Company&#146;s objective in managing its exposure to changes in interest rates on its variable rate debt is to limit the impact of such changes on earnings and cash flow and to reduce its overall
borrowing costs. </font></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>At March 31, 2003, the Company had approximately $25 million of debt outstanding. Under the Amended and Restated Secured Credit Agreement, substantially all of
the Company&#146;s borrowings will bear interest at variable rates based upon the prime rate plus 2%. The Company performed a sensitivity analysis assuming a hypothetical 1% adverse movement in the interest rates on the debt outstanding at the end
of March 2003. Such a movement in interest rates would cause the Company to recognize additional interest expense for the six-month period ended March 31, 2003 of approximately $139 along with a corresponding decrease in cash flows.</font></p> <p
style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>The above sensitivity analysis for interest rate risk excludes accounts receivable, accounts payable and accrued liabilities because of the short-term maturity of such instruments. The
analysis does not consider the effect on other variables such as changes in sales volumes or management&#146;s actions with respect to levels of capital expenditures, future acquisitions or planned divestitures, all of which could be significantly
influenced by changes in interest rates and cause the results to differ significantly from those indicated by the sensitivity analysis </font></p> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>12</font></p>
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<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style='margin-bottom:0;margin-top:12pt;text-indent:0in;'><b><font size=2>Item 4.</font></b></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.75in;'><b><font size=2>
<a name="tx554_7">Controls and Procedures</a></font></b></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><font size=2>The Company&#146;s President and Chief Financial Officer evaluated the Company&#146;s disclosure controls
and procedures within 90 days of the filing date of this quarterly report. Based upon this evaluation, the Company&#146;s President and Chief Financial Officer concluded that the Company&#146;s disclosure controls and procedures are effective in
ensuring that material information required to be disclosed is included in the reports that it files with the Securities and Exchange Commission.</font></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><font size=2>There were
no significant changes in the Company&#146;s internal controls or, to the knowledge of the management of the Company, in other factors that could significantly affect internal controls subsequent to the evaluation date.</font></p> <br><p
style='margin-bottom:0pt;text-align:center'><font
size=2>13</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt; margin-top:12pt;'><b><font size=2>Part II. Other Information</font></b></p> <p style='margin-bottom:0;margin-top:12pt;text-indent:0in;'><b><font size=2>Item 4.</font></b></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.75in;'><b><font size=2>
<a name="tx554_8">Submission of Matters to a Vote of Security Holders</a></font></b></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0.72in;'><font size=2>a)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:1.08in;'><font
size=2>On March 7, 2003, at an Annual Meeting of Shareholders, the following was approved:</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:1.08in;'><font size=2>( i )</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:1.44in;'><font size=2>The election of a director to be voted upon by the holders of Common Stock and the election of the directors to be voted upon by the holders of Class B Stock; and</font></p>
<p style='margin-bottom:0;margin-top:6pt;text-indent:1.08in;'><font size=2>( ii )</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:1.44in;'><font size=2>The ratification of the selection of Moore Stephens Lovelace, P.A.,
independent certified public accountants, as auditors for the Company for the year ended September 30, 2003.</font></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><font size=2>The total number of shares entitled to vote at
this meeting was 6,884,070 shares of Common Stock and 1,798,398 shares of Class B Stock, and the tabulation of proxies was as follows:</font></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><u><font size=2>Election of Director
by holders of Common Stock:</font></u></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table border="0" cellspacing=0 cellpadding=0 style='margin-left:25.9pt; border-collapse:collapse'>
<tr>
<td width="24%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>Name</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>For</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>Againts or</font></b><br> <b><font size=1>Withheld</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="14%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>Abstentions</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="21%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>Broken Non-Votes</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td> </tr>
<tr>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="24%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>James H. Stollenwerk</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>6,109,772</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="14%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="21%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td> </tr> </table> <br> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><u><font size=2>Election of Directors by holders of
Class B Stock:</font></u></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table border="0" cellspacing=0 cellpadding=0 style='margin-left:25.9pt; border-collapse:collapse'>
<tr>
<td width="24%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>Name</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>For</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>Againts or</font></b><br> <b><font size=1>Withheld</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="14%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>Abstentions</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="21%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>Broken Non-Votes</font></b></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td> </tr>
<tr>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="24%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>E. J. Elliott</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>1,627,358</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="14%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="21%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="24%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>John E. Elliott</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>1,627,358</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="14%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="21%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="24%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Randolph H. Fields</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>1,627,358</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="14%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="21%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="24%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>Charles E. Newman</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>1,627,358</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="12%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="14%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="21%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="2%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td> </tr> </table> <br> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><u><font size=2>Ratification of Moore Stephens
Lovelace, P.A.:</font></u></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table border="0" cellspacing=0 cellpadding=0 style='margin-left:25.9pt; border-collapse:collapse'>
<tr>
<td width="17%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>For</font></b></p> </td>
<td width="3%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="17%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>Withheld</font></b></p> </td>
<td width="3%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="19%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>Againts or</font></b><br> <b><font size=1>Abstentions</font></b></p> </td>
<td width="3%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td>
<td width="29%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><b><font size=1>Broken Non-Votes</font></b></p> </td>
<td width="3%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p >&nbsp;</p> </td> </tr>
<tr>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="3%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="3%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="3%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td>
<td valign=top style='padding:0in 5.4pt 0in 5.4pt'> <hr noshade width="100%" color="black" size=1> </td>
<td width="3%" valign=top style='padding:0in 5.4pt 0in 5.4pt'> <p><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="17%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>7,794,448</font></p> </td>
<td width="3%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="17%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>2,664</font></p> </td>
<td width="3%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="19%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>13,095</font></p> </td>
<td width="3%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td>
<td width="29%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p style='margin-bottom:0pt;margin-top:0in;text-align:center;'><font size=2>0</font></p> </td>
<td width="3%" valign=bottom style='padding:0in 5.4pt 0in 5.4pt'> <p ><font size=1>&nbsp;</font></p> </td> </tr> </table> <br> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><font size=2>No other business was brought before the
Annual Meeting.</font></p> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>14</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style='margin-bottom:0;margin-top:12pt;text-indent:0in;'><b><font size=2>Item 6.</font></b></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.75in;'><b><font size=2>
<a name="tx554_9">Exhibits and Reports on Form 8</a>-K</font></b></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>(a)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0in;text-indent:0.5in;'><font
size=2>Exhibits.</font></p> <p style=' margin-bottom:0pt; margin-left:0.36in; margin-top:8pt;'><font size=2>99.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 by E.J. Elliott
and Scott W. Runkel.</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>(b)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0in;text-indent:0.5in;'><font size=2>Reports on Form 8-K.</font></p> <p
style=' margin-bottom:0pt; margin-left:0.36in; margin-top:8pt;'><font size=2>None.</font></p> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>15</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font size=2>
<a name="tx554_10">SIGNATURES</a></font></b></p> <p style=' margin-bottom:0pt; text-indent:0.36in; margin-top:8pt;'><font size=2>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></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table align=center width="65%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font SIZE=2>GENCOR INDUSTRIES, INC.</font></p> </td> </tr>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br> <font size=2>May 15, 2003</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>By:&nbsp;</font></p> </td>
<td width="40%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br> <font size=2>/s/ E.J. E</font><font SIZE=1>LLIOTT</font></p> </td> </tr>
<tr>
<td width="49%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td> </tr>
<tr>
<td width="49%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="40%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>E.J. Elliott, Chairman and President</font></b></p> </td> </tr> </table> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table align=center width="65%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br> <font size=2>May 15, 2003</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>By:&nbsp;</font></p> </td>
<td width="40%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br> <font size=2>/s/ S</font><font SIZE=1>COTT </font><font SIZE=2>W</font><font size=1>. </font><font SIZE=2>R</font><font SIZE=1>UNKEL</font></p> </td> </tr>
<tr>
<td width="49%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td> </tr>
<tr>
<td width="49%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="40%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>Scott W. Runkel, Chief Financial Officer</font></b></p> </td> </tr> </table> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<br><p style='margin-bottom:0pt;text-align:center'><font
size=2>16</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font SIZE=2>CERTIFICATIONS</font></b></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>I, Mr.&nbsp;E.J. Elliott, certify
that:</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>1.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>I have reviewed this quarterly report on Form 10-Q of Gencor
Industries, Inc.</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>2.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>Based on my knowledge, this quarterly report does not
contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this
quarterly report;</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>3.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>Based on my knowledge, the financial statements, and
other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly
report;</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>4.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>The registrant&#146;s other certifying officers and I are
responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a &#150; 14 and 15d &#150; 14) for the registrant and we have:</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font size=2>a)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>designed such disclosure controls and procedures to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font size=2>b)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>evaluated the effectiveness of the registrant&#146;s disclosure controls and
procedures as of a date within 90 days prior to the filing date of this quarterly report (the &#147;Evaluation Date&#148;); and</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font size=2>c)</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation
Date;</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>5.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>The registrant&#146;s other certifying officers and I have
disclosed, based on our most recent evaluation, to the registrant&#146;s auditors and the audit committee of registrant&#146;s board of directors (or persons performing the equivalent function):</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font size=2>a)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>all significant deficiencies in the design or operation of internal controls which
could adversely affect the registrant&#146;s ability to record, process, summarize and report financial data and have identified for the registrant&#146;s auditors any material weaknesses in internal controls; and</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font size=2>b)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>any fraud, whether or not material, that involves management or other employees who
have a significant role in the registrant&#146;s internal controls; and</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>6.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font
size=2>The registrant&#146;s other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent
to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.</font></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table align=center width="65%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br> <font size=2>Date: May 15, 2003</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="40%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br> <font size=2>/s/ E.J.</font><font size=1> </font><font SIZE=2>E</font><font SIZE=1>LLIOTT</font></p> </td> </tr>
<tr>
<td width="49%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td> </tr>
<tr>
<td width="49%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="40%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>E.J. Elliott</font></b><br> <b><font size=1>Chairman and President</font></b></p> </td> </tr> </table> <p style=' margin-bottom:0pt; margin-top:0pt;'><font
size=2>&nbsp;</font></p> <br><p style='margin-bottom:0pt;text-align:center'><font
size=2>17</font></p>
<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>
 <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font SIZE=2>CERTIFICATIONS</font></b></p> <p style=' margin-bottom:0pt; margin-top:8pt;'><font size=2>I, Mr.&nbsp;Scott W. Runkel</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>1.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>I have reviewed this quarterly report on Form 10-Q of Gencor Industries, Inc.</font></p>
<p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>2.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>Based on my knowledge, this quarterly report does not contain any untrue statement of
a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>3.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>Based on my knowledge, the financial statements, and other financial information
included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>4.</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>The registrant&#146;s other certifying officers and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a &#150; 14 and 15d &#150; 14) for the registrant and we have:</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font
size=2>a)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared;</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font size=2>b)</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the
&#147;Evaluation Date&#148;); and</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font size=2>c)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>presented in this quarterly report
our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>5.</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>The registrant&#146;s other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant&#146;s auditors and the audit committee of
registrant&#146;s board of directors (or persons performing the equivalent function):</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font size=2>a)</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant&#146;s ability to record, process, summarize and
report financial data and have identified for the registrant&#146;s auditors any material weaknesses in internal controls; and</font></p> <p style='margin-bottom:0;margin-top:6pt;text-indent:0.36in;'><font size=2>b)</font></p><p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.72in;'><font size=2>any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal controls; and</font></p> <p
style='margin-bottom:0;margin-top:6pt;text-indent:0in;'><font size=2>6.</font></p> <p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0.36in;'><font size=2>The registrant&#146;s other certifying officers and I have indicated in this quarterly
report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to
significant deficiencies and material weaknesses.</font></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table align=center width="65%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" colspan="2" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br> <font size=2>Date: May 15, 2003</font></p> </td>
<td width="7%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="40%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br> <font size=2>/s/ S</font><font SIZE=1>COTT </font><font SIZE=2>W</font><font size=1>. </font><font SIZE=2>R</font><font SIZE=1>UNKEL</font></p> </td> </tr>
<tr>
<td width="49%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td> </tr>
<tr>
<td width="49%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="7%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="4%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="40%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>Scott W. Runkel</font></b><br> <b><font size=1>Chief Financial Officer</font></b></p> </td> </tr> </table> <p style='margin-bottom:0pt;text-align:center'><font
size=2>18</font></p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>dex991.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML><HEAD>
<TITLE>Certification</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
  <p style=' margin-bottom:0pt;text-align:right; margin-top:8pt;'><b><font size=2>Exhibit 99.1</font></b></p> <p style=' margin-bottom:0pt;text-align:center; margin-top:16pt;'><b><font SIZE=2>CERTIFICATION PURSUANT
TO</font></b><br><b><font size=2>18 U.S.C. SECTION 1350,</font></b><br><b><font SIZE=2>AS ADOPTED PURSUANT TO</font></b><br><b><font SIZE=2>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></b></p> <p style=' margin-bottom:0pt;
margin-top:8pt;'><font size=2>In connection with the Quarterly Report of Gencor Industries, Inc. (the &#147;Company&#148;) on Form 10-Q for the fiscal quarter ending March 31, 2003 as filed with the Securities and Exchange Commission on the date
hereof (the &#147;Report&#148;), each of the undersigned officers of the Company, certify, pursuant to 18 U.S.C. 1350, as adopted pursuant to 906 of the Sarbanes-Oxley Act of 2002, that:</font></p> <p
style='margin-bottom:0;margin-top:8pt;text-indent:0.36in;'><font size=2>(1)</font></p><p style='margin-bottom:0pt;margin-top:-11pt;margin-left:0in;text-indent:0.720000028610229in;'><font size=2>The Report fully complies with the requirements of
section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</font></p> <p style='margin-bottom:0;margin-top:8pt;text-indent:0.36in;'><font size=2>(2)</font></p> <p
style='margin-bottom:0pt;margin-top:-11pt;margin-left:0in;text-indent:0.720000028610229in;'><font size=2>The information contained in the Report fairly presents, in all materials respects, the financial condition and results of operations of the
Company.</font></p> <p style=' margin-bottom:0pt; margin-top:0pt;'><font size=2>&nbsp;</font></p>
<table width="65%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="2%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="44%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td> </tr>
<tr>
<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>&nbsp;</font><br> <font size=2>/s/ E.J. E</font><font SIZE=1>LLIOTT</font></p> </td>
<td width="2%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>&nbsp;</font></p> </td>
<td width="44%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><br > <br > </p> </td> </tr>
<tr>
<td valign=top > <hr noshade width="100%" color="black" size=1> </td>
<td width="2%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
<td width="5%" valign=top > <p><font size=1>&nbsp;</font></p> </td>
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<td width="49%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>E.J. Elliott</font></b><br> <b><font size=1>Chairman and President</font></b><br> <b><font size=1>May 15, 2003</font></b></p> </td>
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<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=1>&nbsp;</font></p> </td>
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<td width="49%" valign=bottom > <p style='margin-bottom:0pt;margin-top:0in;'><font size=2>&nbsp;</font><br> <font size=2>/s/ S</font><font SIZE=1>COTT </font><font SIZE=2>W</font><font size=1>. </font><font SIZE=2>R</font><font
SIZE=1>UNKEL</font></p> </td>
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<td width="49%" valign=top > <p style='margin-bottom:0pt;margin-top:0in;'><b><font size=1>Scott W. Runkel</font></b><br> <b><font size=1>Chief Financial Officer</font></b><br> <b><font size=1>May 15, 2003</font></b></p> </td>
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