<SEC-DOCUMENT>0000897101-21-000725.txt : 20210824
<SEC-HEADER>0000897101-21-000725.hdr.sgml : 20210824
<ACCEPTANCE-DATETIME>20210824161036
ACCESSION NUMBER:		0000897101-21-000725
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20210824
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210824
DATE AS OF CHANGE:		20210824

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Electromed, Inc.
		CENTRAL INDEX KEY:			0001488917
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				411732920
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34839
		FILM NUMBER:		211202321

	BUSINESS ADDRESS:	
		STREET 1:		500 SIXTH AVENUE NW
		CITY:			NEW PRAGUE
		STATE:			MN
		ZIP:			56071
		BUSINESS PHONE:		952-758-9299

	MAIL ADDRESS:	
		STREET 1:		500 SIXTH AVENUE NW
		CITY:			NEW PRAGUE
		STATE:			MN
		ZIP:			56071
</SEC-HEADER>
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<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

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<p style="margin: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 14pt Times New Roman, Times, Serif"><b>UNITED
STATES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 14pt Times New Roman, Times, Serif"><b>SECURITIES
AND EXCHANGE COMMISSION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif"><b>Washington,
D.C. 20549</b></span></p>

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    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 40%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 18pt Times New Roman, Times, Serif"><b>FORM
<span id="xdx_909_edei--DocumentType_c20210824__20210824_zxUlBglb27Lk"><ix:nonNumeric contextRef="From2021-08-24to2021-08-24" name="dei:DocumentType">8-K</ix:nonNumeric></span></b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif"><b>CURRENT
REPORT</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif"><b>Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif">Date
of report (Date of earliest event reported): <span id="xdx_90C_edei--DocumentPeriodEndDate_c20210824__20210824_zVoVBIRHmdvk"><ix:nonNumeric contextRef="From2021-08-24to2021-08-24" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate">August
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<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Exact
Name of Registrant as Specified in Its Charter)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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        Employer Identification</span></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Number)</span></p></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif"><b><span id="xdx_909_edei--EntityAddressAddressLine1_c20210824__20210824_zATURPG5r9De"><ix:nonNumeric contextRef="From2021-08-24to2021-08-24" name="dei:EntityAddressAddressLine1">500
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif"><b><span id="xdx_902_edei--EntityAddressCityOrTown_c20210824__20210824_z4BFMOjykED8"><ix:nonNumeric contextRef="From2021-08-24to2021-08-24" name="dei:EntityAddressCityOrTown">New
Prague</ix:nonNumeric></span>, <span id="xdx_90A_edei--EntityAddressStateOrProvince_c20210824__20210824_zKJF6NpFTb7j"><ix:nonNumeric contextRef="From2021-08-24to2021-08-24" name="dei:EntityAddressStateOrProvince">MN</ix:nonNumeric></span> <span id="xdx_90F_edei--EntityAddressPostalZipCode_c20210824__20210824_z4sH40HchHY2"><ix:nonNumeric contextRef="From2021-08-24to2021-08-24" name="dei:EntityAddressPostalZipCode">56071</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Address
of Principal Executive Offices)(Zip Code)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif"><b>(<span id="xdx_90F_edei--CityAreaCode_c20210824__20210824_zCbKmCdbJ8nk"><ix:nonNumeric contextRef="From2021-08-24to2021-08-24" name="dei:CityAreaCode">952</ix:nonNumeric></span>)
<span id="xdx_900_edei--LocalPhoneNumber_c20210824__20210824_zWHoXTuiA1m5"><ix:nonNumeric contextRef="From2021-08-24to2021-08-24" name="dei:LocalPhoneNumber">758-9299</ix:nonNumeric></span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Registrant&#8217;s
Telephone Number, Including Area Code)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 12pt Times New Roman, Times, Serif"><b>Not
Applicable</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Former
Name or Former Address, if Changed Since Last Report)</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: white">
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    <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 20%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif; width: 96%"><span style="font: 10pt Times New Roman, Times, Serif">Written communications pursuant
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></td>
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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    <td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></td>
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<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">Securities
registered pursuant to Section 12(b) of the Act:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule
12b-2 of the Securities Exchange Act of 1934. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Emerging growth company <span id="xdx_902_edei--EntityEmergingGrowthCompany_c20210824__20210824_zCeC8pect2Jj"><ix:nonNumeric contextRef="From2021-08-24to2021-08-24" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#9744;</ix:nonNumeric></span></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#160;&#160;&#160;&#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1in"><span style="font: 10pt Times New Roman, Times, Serif"><b>Item
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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">On August 24, 2021, Electromed, Inc. (the "Company") issued a press release announcing its financial results for the fiscal year ended June 30, 2021. The full text of the press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>



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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">(d)
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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    <td style="font: 10pt Times New Roman, Times, Serif; padding: 0; text-align: center; text-indent: 0"><span style="font: 10pt Times New Roman, Times, Serif"><a href="elmd211056_ex99-1.htm">99.1</a></span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The information contained in this Current Report on Form 8-K, including
Exhibit 99.1 attached hereto, shall not be deemed &#8220;filed&#8221; for the purposes of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration
statement pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>SIGNATURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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<TYPE>EX-99.1
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<DESCRIPTION>PRESS RELEASE DATED AUGUST 24, 2021
<TEXT>
<html><head><title></title></head><body><p style="font: 10pt Times New Roman, Times, serif;text-align: left;text-indent: 0pt;margin: 0pt 0px;">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt 0px; text-align: right; text-indent: 0pt"><b>Exhibit 99.1</b></p>

<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt 0px; text-align: left; text-indent: 0pt">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, serif; margin: 0pt 0px; text-align: left; text-indent: 0pt"><img src="img001_v1.jpg" alt="image"><br></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;"><b><u><b>FOR IMMEDIATE RELEASE</b></u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;"><b><b>Electromed, Inc. Announces Fiscal 2021 Fourth Quarter and Full Year Financial Results</b></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;">-- Double-Digit Year over Year Revenue Growth --</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;">-- Strong Operating Cash Flow --</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;">-- Progress on Key Growth Initiatives: Commercial Expansion, Strategic Marketing, Research &amp; Development, Infrastructure Investment --</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;">-- Provides Update on Fiscal 2022 Strategic Priorities --</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><b><b>New Prague, Minnesota &ndash; August 24, 2021 &ndash;</b></b> Electromed, Inc. (&ldquo;Electromed&rdquo; or the &ldquo;Company&rdquo;) (NYSE American: ELMD), a leader in innovative airway clearance technologies, today announced financial results for the three months (&ldquo;Q4 FY 2021&rdquo;) and full year (&ldquo;FY 2021&rdquo;) ended June 30, 2021.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="margin-top: 0pt; margin-bottom: 0pt"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><u>Q4
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<table border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="width: 13.7pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif;">&#9679;</font></p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Net revenue increased 37.7% to $9.5 million, from $6.9 million for the three months ended June 30, 2020 (&ldquo;Q4 FY 2020&rdquo;), driven by 33.6% home care revenue growth and 90.6% growth in institutional sales.&nbsp;</p>
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</table>
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<tr>
<td style="width: 13.7pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif;">&#9679;</font></p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Operating income totaled $0.7 million, compared to $1.3 million in Q4 FY 2020.&nbsp;The prior year period included $0.9 million of government stimulus income from the Provider Relief Fund established under the Coronavirus Aid, Relief, and Economic Security Act (the &ldquo;CARES Act&rdquo;).</p>
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<tr>
<td style="width: 13.7pt;" valign="top">
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Net income was $0.4 million, or $0.04 per diluted share, compared to $1.3 million, or $0.15 per diluted share, in Q4 FY 2020.</p>
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</table>
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<tr>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif;">&#9679;</font></p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Repurchased $1.1 million of common stock under new $3.0 million share repurchase program.</p>
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</table>
<table border="0" width="100%" cellspacing="0" cellpadding="0">

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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Cash as of June 30, 2021
was $11.9 million, benefiting from $0.8 million in operating cash flow in Q4 FY 2021 and offset by the repurchase of approximately
$1.1 million of common stock at an average price of $10.79 per share.&nbsp;&nbsp;</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-indent: -13.7pt;margin: 0pt 0pt 0pt 13.7pt;text-align: justify;"><b><u>FY
2021 Financial Highlights</u></b></p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Net revenue increased 10.1% to $35.8 million from $32.5 million during the fiscal year ended June 30, 2020 (&ldquo;FY 2020&rdquo;), driven by 12.5% home care revenue growth.</p>
</td>
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</table>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Operating income totaled $3.1 million, compared to $5.1 million in FY 2020.&nbsp;The prior year period included $0.9 million of government stimulus income from the Provider Relief Fund established under the CARES Act.</p>
</td>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Net income totaled $2.4 million, or $0.27 per diluted share, compared to $4.2 million, or $0.47 per diluted share, in FY 2020.</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Cash increased by $1.4 million during fiscal 2021, benefitting from $3.1 million in operating cash flow.</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-indent: -13.7pt;margin: 0pt 0pt 0pt 13.7pt;text-align: justify;"><b><u>FY
2021 Strategic Investments to Enhance Future Growth</u></b></p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Increased investment in commercial expansion, including Marketing &amp; Clinical Field Support.</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Increased investment in direct-to-consumer and digital marketing.</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Conducted a comprehensive research study focused on bronchiectasis and HFCWO market to strengthen respective growth strategies for sales team expansion and clinical study opportunities, and assist in identifying new market development strategies.</p>
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<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Increased spending on research and development for next generation product.</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Made key infrastructure investments, including implementing a new revenue cycle management system.</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Advanced clinical studies to further demonstrate the benefits of SmartVest&reg; Airway Clearance devices.</p>
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<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Kathleen Skarvan,
President and Chief Executive Officer of Electromed, commented, &ldquo;We delivered exceptional results, including double-digit
revenue growth and strong cash flows, in the fiscal 2021 fourth quarter and fiscal 2021 full year, notwithstanding the industry-wide
disruption in patient visits and sales representative access caused by the COVID-19 pandemic. These results reflect investments we are making
in our commercial organization, marketing and brand recognition, next generation product development, and new clinical studies to
further validate the benefit of our technology in improving patient care. Indeed, our entire team performed well to ensure that our
SmartVest&reg; Airway Clearance devices reached patients in need of high frequency chest wall oscillation despite the
pandemic.&rdquo;&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><b><u><b>Fiscal 2022 Strategic Priorities</b></u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Ms. Skarvan continued, &ldquo;We enter fiscal 2022 encouraged by the ongoing nationwide deployment of vaccinations and the extension of the provisional waiver from the Centers for Medicare &amp; Medicaid Services. Our strong fiscal 2021 results, as well as the large and underpenetrated bronchiectasis market, reinforce our confidence in the strategic growth investments we are making and our ability to continue generating sustainable profitable growth, improved operating margins and enhanced shareholder value.&rdquo;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">For fiscal 2022, strategic
investments and priorities include:</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Increasing sales and marketing investments to expand the Company&rsquo;s sales force in regions of the U.S. where there is a high incidence of bronchiectasis diagnosing physicians and increase awareness for the SmartVest brand through direct-to-consumer and digital marketing initiatives;</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Completing the final phases of development for the Company&rsquo;s next generation SmartVest product, which is targeted for launch in the first half of fiscal 2023 following FDA 510(k) clearance;</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Advancing enrollment in existing clinical studies to further demonstrate the clinical benefits of SmartVest&reg; for patients with compromised pulmonary function. The Company&rsquo;s prospective bronchiectasis outcomes multi-site study enrollment is at approximately 25% to-date, after enrollment was put on hold for several months by the study sites due to the COVID-19 pandemic; and</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Exploring additional studies during the year, including a post surveillance study with SmartVest patients using an industry approved quality of life questionnaire.</p>
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<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">For fiscal 2022, the Company is targeting growth faster than the homecare HFCWO market by taking market share and with deeper penetration of SmartVest prescribing physicians in the largest, fastest growing segments: adult pulmonology/bronchiectasis.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><b><u>Q4 FY 2021 Review</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Net revenue in Q4 FY 2021 increased 37.7% to $9.5 million, from $6.9 million in Q4 FY 2020, primarily driven by higher home care revenue.&nbsp;Home care revenue increased 33.6% to $8.5 million from $6.3 million in Q4 FY 2020, primarily due to an increase in referrals and approvals as patient clinic visits and face-to-face access for the Company&rsquo;s sales representative increased substantially from COVID-19 driven limitations in the prior fiscal year.&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
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<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Field sales employees totaled 46, of which 37 were direct sales, at the end of Q4 FY 2021, compared to 44 at the end of Q4 FY 2020, of which 37 were direct sales. In July 2021 the Company added three new direct sales representatives and one new regional manager.&nbsp;&nbsp;Sales force productivity continued to improve during the quarter, with annualized home care revenue per direct sales rep at $906,000, above the targeted range of $750,000 to $850,000.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Institutional revenue increased 90.6% to $520,000 from $273,000 in Q4 FY 2020, primarily due to an increase in volume of devices and garments sold as hospitals returned to more normal purchasing activity.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Gross profit in Q4 FY 2021 increased 24.0% to $6.9 million, or 73.2% of net revenue, from $5.6 million, or 81.3% of net revenue, in Q4 FY 2020.&nbsp;The increase in gross profit dollars was primarily due to the increase in home care revenue.&nbsp;The decrease in gross profit percentage was due to  higher warranty costs related to an increase in the product components included in the warranty reserve calculation, costs associated with the discontinuation of the Company&rsquo;s SV2100 device in the United States, a lower mix of home care revenue as compared to the prior year period, and some limited product input cost increases. Electromed expects gross margin percentage to be in the mid to high 70% range moving forward, which is consistent with our historical gross margin performance range.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Selling, general and administrative (&ldquo;SG&amp;A&rdquo;) expenses in Q4 FY 2021 increased by $1.2 million to $6.0 million from $4.8 million in Q4 FY 2020.&nbsp;The increase in SG&amp;A spending was primarily due to increased investments in sales and marketing headcount, higher compensation costs related to stronger revenue performance, and increased direct-to-consumer marketing.&nbsp;As a percentage of revenue, SG&amp;A expenses were 62.9% compared to 69.7% in the same period in the prior year.&nbsp;Research and development expenses decreased to $326,000 from $415,000 in Q4 FY 2020.&nbsp;The Company continued to invest in its next generation device at a rate consistent with past recent quarters and expects to launch the product in the first half of fiscal 2023 following FDA 510(k) clearance.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Operating income totaled $0.7 million, compared to $1.3 million in Q4 FY 2020.&nbsp;The prior year period included $0.9 million of government stimulus from the Provider Relief Fund established under the CARES Act which was intended to offset losses in revenue and expenses Medicare fee-for-service providers incurred due to the impacts of the COVID-19 pandemic.&nbsp;The decline in operating income for Q4 FY 2021 was driven primarily by increased strategic investments in SG&amp;A, offset by higher gross margin dollars resulting from the stronger home care revenue performance.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;text-indent: 0pt;margin: 0pt 0pt 0pt 0pt;text-align: justify;">Net income before income taxes totaled $0.7 million compared to $1.3 million in Q4 FY 2020.&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Net income was $0.4
million, or $.04 per diluted share, compared to $1.3 million, or $0.15 per diluted share, in Q4 FY 2020.&nbsp;In Q4 FY 2021, income
tax expense totaled $250,000, compared to an income tax benefit of $9,000 in the same period of the prior year.&nbsp;The prior year
period included a discrete tax benefit of $343,000 that was recognized as a result of the exercise of outstanding stock options.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><b><u>FY 2021 Summary</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">For the fiscal year ended June 30, 2021, revenue grew 10.1% to $35.8 million, from $32.5 million in FY 2020, driven by a 12.5% increase in home care revenue and 30.9% increase in distributor revenue, which more than offset  a 22.6% decrease in institutional revenue and 8.4% decline in international revenue.&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
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<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Gross margins were
76.4%, compared to 77.6% in the prior fiscal year, while net income was $2.4 million, or $0.27 per diluted share, compared to $4.2
million, or $0.47 per diluted share, in FY 2020.&nbsp;The Company&rsquo;s cash increased by $1.4 million, driven by $3.1 million of
operating cash flow, partially offset by $1.1 million of cash used to repurchase shares during the year.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><b><u>Balance Sheet
and Share Repurchase Program</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">The Company&rsquo;s balance sheet as of June 30, 2021 included cash of $11.9 million, accounts receivable of $17.0 million, no debt, working capital of $27.1 million, and shareholders&rsquo; equity of $32.4 million.&nbsp;&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">In May 2021, Electromed&rsquo;s Board of Directors approved a new $3.0 million share repurchase program.&nbsp;During Q4 FY 2021, the Company repurchased approximately $1.1 million of common stock under the program, and will continue to evaluate opportunities to repurchase shares in fiscal year 2022.&nbsp;&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><b><u>Conference Call</u></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Management will host a conference call on Tuesday, August 24, 2021 at 4:00 pm CT (5:00 pm ET) to discuss Q4 FY 2021 financial results and other matters.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Interested parties
may participate in the call by dialing:</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif;">&#9679;</font></p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">(877) 407-9753 (Domestic)</p>
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<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, Serif;">&#9679;</font></p>
</td>
<td valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">(201) 493-6739 (International)</p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">The conference call
also will be accessible via the following link:</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><font style="color: Blue"><u>https://78449.themediaframe.com/dataconf/productusers/elctr/mediaframe/46280/indexl.html</u></font></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">For those who cannot
listen to the live broadcast, an online webcast replay will be available in the Investor Relations section of the Company&rsquo;s
web site at: <font style="color: Blue"><u>http://investors.smartvest.com/</u></font></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><b><u><b>About Electromed, Inc.</b></u></b><u>&nbsp;</u></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Electromed, Inc. manufactures,
markets, and sells products that provide airway clearance therapy, including the SmartVest<sup>&reg;</sup> Airway Clearance System,
to patients with compromised pulmonary function. The Company is headquartered in New Prague, Minnesota and was founded in 1992.&nbsp;Further
information about the Company can be found at <font style="color: Blue"><u>www.smartvest.com</u></font>.</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-right: 1.8pt;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><b><i><b><i>Cautionary Statements</i></b></i></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><i><i>Certain statements in this press release constitute forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995.&nbsp;Forward-looking statements can generally be identified by words such as &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;plan&rdquo; &ldquo;potential,&rdquo; &ldquo;should,&rdquo; &ldquo;will,&rdquo; and similar expressions, including the negative of these terms, but they are not the exclusive means of identifying such statements. Forward-looking statements cannot be guaranteed, and actual results may vary materially due to the uncertainties and risks, known or unknown associated with such statements. Examples of risks and uncertainties for the Company include, but are not limited to, the duration, extent and severity of the COVID-19 pandemic, including its effects on our business, operations and employees as well as its impact on our customers and distribution channels and on economies and markets more generally; the competitive nature of our market; changes to Medicare, Medicaid, or private insurance reimbursement policies; changes to state and federal health care laws; changes affecting the medical device industry; our ability to develop new sales channels for our products such as the homecare distributor channel; our need to maintain regulatory compliance and to gain future regulatory approvals and clearances; new drug or pharmaceutical discoveries; general economic and business conditions; our ability to renew our line of credit or obtain additional credit as necessary; our ability to protect and expand our intellectual property portfolio; the risks associated with expansion into international markets, as well as other factors we may describe from time to time in the Company&rsquo;s </i></i></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
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<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;"><i><i>reports filed with the Securities and Exchange Commission (including the Company&rsquo;s most recent Annual Report on Form 10-K, as amended from time to time, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K). Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions investors should take into account when making investment decisions. Shareholders and other readers should not place undue reliance on &ldquo;forward-looking statements,&rdquo; as such statements speak only as of the date of this press release.&nbsp;We undertake no obligation to update them in light of new information or future events.</i></i></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
<table style="border: none;width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><b style="font-size: 10pt;"><b>Contacts:</b></b></p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><b><b>&nbsp;</b></b></p>
</td>
</tr>
<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><b><b>&nbsp;</b></b></p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><b><b>&nbsp;</b></b></p>
</td>
</tr>
<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><b><b>Electromed, Inc. </b></b></p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><b><b>The Equity Group Inc.</b></b></p>
</td>
</tr>
<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-right: -10.65pt;margin-top: 0pt;margin-bottom: 0pt;">Mike MacCourt, Chief Financial Officer</p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Kalle Ahl, CFA</p>
</td>
</tr>
<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">(952) 758-9299</p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">(212) 836-9614</p>
</td>
</tr>
<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><font style="color: Blue"><u>investorrelations@electromed.com</u></font></p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><font style="color: Blue"><u>kahl@equityny.com</u></font></p>
</td>
</tr>
<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">Devin Sullivan</p>
</td>
</tr>
<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">(212) 836-9608</p>
</td>
</tr>
<tr>
<td style="width: 184pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 128pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 231pt;" valign="top">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: justify;margin-top: 0pt;margin-bottom: 0pt;"><font style="color: Blue"><u>dsullivan@equityny.com</u></font></p>
</td>
</tr>

</table>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">Financial Tables Follow:</p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>
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<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: justify;">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;"><b>Electromed, Inc.<br></b><b>Condensed Balance Sheets</b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
<table border="0" cellspacing="0" cellpadding="0" style="width: 100%">

<tr>
    <td>&nbsp;</td>
<td valign="top" style="padding-bottom: 1pt">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;">&nbsp;</p>
</td>
<td style="padding-bottom: 1pt">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td colspan="7" style="vertical-align: top; border-bottom: Black 1pt solid">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><b><b>June 30,</b></b></p>
</td>
<td style="vertical-align: bottom; padding-bottom: 1pt">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;">&nbsp;</p>
</td>
</tr>
<tr>
    <td>&nbsp;</td>
<td valign="top" style="padding-bottom: 1pt">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;">&nbsp;</p>
</td>
<td style="padding-bottom: 1pt">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td colspan="2" valign="top" style="text-align: center; border-bottom: Black 1pt solid">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><b><b>2021</b></b></p>
</td>
<td style="vertical-align: bottom; padding-bottom: 1pt">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;">&nbsp;</p>
</td>
<td style="width: 1%; padding-bottom: 1pt">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td colspan="3" style="vertical-align: top; border-bottom: Black 1pt solid; text-align: center">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><b><b>2020</b></b></p>
</td>
<td style="vertical-align: bottom; padding-bottom: 1pt">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="width: 70%; vertical-align: top">
</td><td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 1%; vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="text-align: center; width: 10%; vertical-align: bottom">
(Unaudited)<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"></p>
</td>
<td style="width: 1%; vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 1%; vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="width: 10%; vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="width: 1%; vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="width: 70%; vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><b><b>Assets</b></b></p>
</td>
<td>&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td>
<td>&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td></tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">Current Assets</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Cash and cash equivalents</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">$</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">11,889,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">$</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">10,479,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Accounts receivable (net of allowances for doubtful accounts of $45,000)</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">17,032,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">12,941,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Contract assets</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">393,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">903,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Inventories</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">2,114,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">3,085,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Prepaid expenses and other current assets</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">276,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">353,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Income tax receivable</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">-</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">262,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><b><b>Total current assets</b></b></p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">31,704,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">28,023,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">Property and equipment, net</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">3,605,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">3,788,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">Finite-life intangible assets, net</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">663,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">598,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">Other assets</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">88,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">81,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">Deferred income taxes</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">1,049,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td style="border-bottom: Black 1pt solid">&nbsp;</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">755,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><b><b>Total assets</b></b></p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">$</p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">37,109,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">$</p>
</td>
   <td style="border-bottom: 2.5pt double black;" valign="bottom">&nbsp;</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">33,245,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><b><b>Liabilities and Shareholders&rsquo; Equity</b></b></p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">Current Liabilities</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Current maturities of other long-term liabilities</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">$</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">33,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">$</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">72,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Accounts payable</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">685,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">556,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Accrued compensation</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">2,474,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">1,404,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Income tax payable</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">288,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">-</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Warranty reserve</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">940,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">740,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;">Other accrued liabilities</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">219,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td style="border-bottom:  1pt solid black;" valign="bottom">&nbsp;</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">214,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><b><b>Total current liabilities</b></b></p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">4,639,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td style="border-bottom:  1pt solid black;" valign="bottom">&nbsp;</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">2,986,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">Other long-term liabilities</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">54,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td style="border-bottom:  1pt solid black;" valign="bottom">&nbsp;</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">9,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><b><b>Total liabilities</b></b></p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">4,693,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td style="border-bottom:  1pt solid black;" valign="bottom">&nbsp;</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">2,995,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">Commitments and Contingencies</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">Shareholders&rsquo; Equity</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 32px; text-indent: -16px">Common stock, $0.01 par value, 13,000,000 shares authorized; 8,533,209 and 8,567,834 issued and outstanding, as of June 30, 2021 and June 30, 2020, respectively</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">85,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">86,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 32px; text-indent: -16px">Additional paid-in capital</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">17,409,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td>&nbsp;</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">16,480,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 32px; text-indent: -16px">Retained earnings</p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">14,922,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td style="border-bottom:  1pt solid black;" valign="bottom">&nbsp;</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">13,684,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: White">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><b><b>Total shareholders&rsquo; equity</b></b></p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">32,416,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
    <td style="border-bottom:  1pt solid black;" valign="bottom">&nbsp;</td>
<td style="border-bottom:  1pt solid black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">30,250,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
    <td>&nbsp;</td>
<td style="vertical-align: top">
<p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><b><b>Total liabilities and shareholders&rsquo; equity</b></b></p>
</td>
<td>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">$</p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">37,109,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="width: 3%">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">$</p>
</td>
  <td style="border-bottom: 2.5pt double black;" valign="bottom">&nbsp;</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom">
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;">33,245,000</p>
</td>
<td style="vertical-align: bottom">
<p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
</td>
</tr>

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

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<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;"><b><b>Electromed, Inc.</b></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;"><b><b>Condensed Statements of Operations</b></b></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;">&nbsp;</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Three Months Ended<BR>June 30,</td><td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="6" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Twelve Months Ended<BR>June 30,</td><td style="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2021</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2020</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2021</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2020</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(Unaudited)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(Unaudited)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(Unaudited)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 48%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Net revenues</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">9,469,000</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">6,877,000</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">35,756,000</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">32,471,000</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in">Cost of revenues</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,536,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,289,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">8,451,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7,271,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.5in; text-indent: -0.125in">Gross profit</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">6,931,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">5,589,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">27,305,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">25,200,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Operating expenses</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.375in; text-indent: -0.125in">Selling, general and administrative</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,953,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,797,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">22,443,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">19,945,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.375in; text-indent: -0.125in">Research and development</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">326,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">415,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,722,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,050,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.375in; text-indent: -0.125in">Government stimulus income</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(913,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(913,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.5in; text-indent: -0.125in">Total operating expenses</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">6,279,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,299,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">24,165,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">20,082,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.5in; text-indent: -0.125in">Operating income</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">652,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,290,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,140,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,118,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Interest income, net</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">10,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">39,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">121,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in">Other expense, net</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(12,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(12,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.5in; text-indent: -0.125in">Net income before income taxes</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">650,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,300,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">3,167,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5,239,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 0.25in; text-indent: -0.125in">Income
    tax expense (benefit)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">250,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(9,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">805,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,078,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 0.5in; text-indent: -0.125in">Net income</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">400,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,309,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2,362,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4,161,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-indent: -0.125in">Income per share:</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 0.375in; text-indent: -0.125in">Basic</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">0.05</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">0.16</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">0.28</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">0.50</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 0.375in; text-indent: -0.125in">Diluted</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">0.04</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">0.15</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">0.27</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">0.47</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Weighted-average common shares outstanding:</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif">&nbsp;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 0.375in; text-indent: -0.125in">Basic</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8,588,093</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8,443,954</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8,566,224</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8,403,220</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; padding-left: 0.375in; text-indent: -0.125in">Diluted</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8,897,595</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8,968,800</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8,911,842</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8,826,418</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</td></tr>
</table>

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

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<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt"><b>Electromed,
Inc.</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif;text-align: center;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt"><b>Condensed
Statements of Cash Flows</b></font></p>
<p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
<table style="width: 100%;" border="0" width="100%" cellspacing="0" cellpadding="0">

<tr>
<td valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000;" colspan="6" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><font style="font-size: 10pt"><b>Twelve
Months Ended June 30,</b></font></p>
</td>
<td style="width: 1%;" valign="bottom" width="1%"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr>
<td valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom: 1px solid #000000;" colspan="2" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><font style="font-size: 10pt"><b>2021</b></font></p>
</td>
<td style="width: 1%;" valign="bottom" width="1%"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" width="1%"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 16%;text-align: center;border-bottom: 1px solid #000000;" colspan="2" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><font style="font-size: 10pt"><b>2020</b></font></p>
</td>
<td style="width: 1%;" valign="bottom" width="1%"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: center;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="vertical-align: top">&nbsp;</td>
<td>&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td>
<td style="text-align: center; vertical-align: bottom">&nbsp;(Unaudited)</td>
<td style="vertical-align: bottom">&nbsp;</td>
<td>&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td>
<td style="vertical-align: bottom">&nbsp;</td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">Cash Flows
From Operating Activities</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;"><font style="font-size: 10pt">Net
income</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">2,362,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">4,161,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;"><font style="font-size: 10pt">Adjustments
to reconcile net income to net cash provided by operating activities:</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><font style="font-size: 10pt">Depreciation</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">477,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">619,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><font style="font-size: 10pt">Amortization
of finite-life intangible assets</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">133,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">122,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><font style="font-size: 10pt">Share-based
compensation expense</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">1,024,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">902,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><font style="font-size: 10pt">Deferred
income taxes</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(294,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(126,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><font style="font-size: 10pt">Changes
in operating assets and liabilities:</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 48px;"><font style="font-size: 10pt">Accounts
receivable</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(4,091,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(181,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 48px;"><font style="font-size: 10pt">Contract
assets</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">510,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">93,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 48px;"><font style="font-size: 10pt">Inventories</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">971,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(449,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 48px;"><font style="font-size: 10pt">Prepaid
expenses and other assets</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">151,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">78,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 48px;"><font style="font-size: 10pt">Income
tax receivable</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">262,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(262,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 48px;"><font style="font-size: 10pt">Income
tax payable</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">288,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(289,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 48px;"><font style="font-size: 10pt">Accounts
payable and accrued liabilities</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">1,284,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(472,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><font style="font-size: 10pt"><b>Net
cash provided by operating activities</b></font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">3,077,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">4,196,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt"><b>&nbsp;</b></font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">Cash Flows
From Investing Activities</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;"><font style="font-size: 10pt">Expenditures
for property and equipment</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(287,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(844,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;"><font style="font-size: 10pt">Expenditures
for finite-life intangible assets</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(161,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(133,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><font style="font-size: 10pt"><b>Net
cash used in investing activities</b></font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(448,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;border-bottom: 1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(977,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt"><b>&nbsp;</b></font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">Cash Flows
From Financing Activities</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;"><font style="font-size: 10pt">Taxes
paid on stock options exercised on a net basis</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(141,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(628,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;"><font style="font-size: 10pt">Issuance
of common stock upon exercise of options</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">46,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">80,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 16px;"><font style="font-size: 10pt">Repurchase
of common stock</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(1,124,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">-</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 32px;"><font style="font-size: 10pt"><b>Net
cash used in financing activities</b></font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(1,219,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">(548,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">)</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif;margin-top: 0pt;margin-bottom: 0pt;margin-left: 48px;"><font style="font-size: 10pt"><b>Net
increase in cash</b></font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">1,410,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">2,671,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">Cash and
cash equivalents</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 16px"><font style="font-size: 10pt">Beginning
of period</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">10,479,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom:  1pt solid black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">7,808,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 16px"><font style="font-size: 10pt">End
of period</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">11,889,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="border-bottom: 2.5pt double black;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">10,479,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;"><font style="font-size: 10pt">&nbsp;</font></td>
<td style="width: 10%;"><font style="font-size: 10pt">&nbsp;</font></td>
<td style="width: 1%;"><font style="font-size: 10pt">&nbsp;</font></td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;"><font style="font-size: 10pt">&nbsp;</font></td>
<td style="width: 10%;"><font style="font-size: 10pt">&nbsp;</font></td>
<td style="width: 1%;"><font style="font-size: 10pt">&nbsp;</font></td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">Supplemental
Disclosures of Cash Flow Information</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 16px"><font style="font-size: 10pt">Cash
paid for income taxes</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">534,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">1,755,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt"><b>&nbsp;</b></font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">Supplemental
Disclosures of Noncash Investing and Financing Activities</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 16px"><font style="font-size: 10pt">Property
and equipment acquisitions in accounts payable</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">10,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">1,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 16px"><font style="font-size: 10pt">Intangible
asset acquisitions in accounts payable</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">42,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">6,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>
<tr style="background-color: White">
<td style="width: 70%;" valign="top"><p style="font: 10pt Times New Roman, Times, serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 16px"><font style="font-size: 10pt">Lease
                                     assets obtained in exchange for new operating lease liabilities</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">91,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 3%;"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">$</font></p>
</td>
<td style="width: 10%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;margin-top: 0pt;margin-bottom: 0pt;text-align: right;"><font style="font-size: 10pt">120,000</font></p>
</td>
<td style="width: 1%;" valign="bottom"><p style="font: 10pt Times New Roman, Times, Serif;text-align: left;margin-top: 0pt;margin-bottom: 0pt;"><font style="font-size: 10pt">&nbsp;</font></p>
</td>
</tr>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></p>

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

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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>elmd-20210527_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
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<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31"
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<TYPE>XML
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.21.2</span><table class="report" border="0" cellspacing="2" id="idm139915019592488">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Aug. 24, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Aug. 24,  2021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-34839<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">ELECTROMED,
INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001488917<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">41-1732920<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">MN<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">500
Sixth Avenue NW<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New
Prague<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">MN<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">56071<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">952<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">758-9299<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common
    Stock, $0.01&#160;par&#160;value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">ELMD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSEAMER<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:booleanItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
