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<SEC-DOCUMENT>0001171843-07-000089.txt : 20070312
<SEC-HEADER>0001171843-07-000089.hdr.sgml : 20070312
<ACCEPTANCE-DATETIME>20070312161211
ACCESSION NUMBER:		0001171843-07-000089
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070312
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20070312
DATE AS OF CHANGE:		20070312

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HOOKER FURNITURE CORP
		CENTRAL INDEX KEY:			0001077688
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD FURNITURE [2510]
		IRS NUMBER:				540251350
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25349
		FILM NUMBER:		07687797

	BUSINESS ADDRESS:	
		STREET 1:		440 E COMMONWEALTH BLVD
		CITY:			MARTINSVILLE
		STATE:			VA
		ZIP:			24112
		BUSINESS PHONE:		5406322133

	MAIL ADDRESS:	
		STREET 1:		440 E COMMONWEALTH BLVD
		CITY:			MARTINSVILLE
		STATE:			VA
		ZIP:			24112
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_03122007.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;border-bottom:solid 1.5pt;padding-bottom:1;'>&nbsp;</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=5>UNITED STATES</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><B><font SIZE=5>SECURITIES AND EXCHANGE COMMISSION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>WASHINGTON, D.C. 20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=5>__________</font></b></p>

<p style=' margin-bottom:0pt; margin-top:10pt;text-align:center;'><B><font SIZE=5>FORM 8-K</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>CURRENT REPORT</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>PURSUANT TO SECTION 13 OR 15(d) OF</font></b></p>

<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Date of Report (Date of earliest event reported): March 12, 2007</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=5>__________</font></b></p>

<p style=' margin-bottom:0pt; margin-top:10pt;text-align:center;'><B><font SIZE=6>HOOKER FURNITURE CORPORATION</font></B></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>(Exact name of registrant as specified in its charter)</font></b></p>
			<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size=1>&nbsp;</font></p>
					</td>
					<td width="187" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>Virginia</font></b></p>
					</td>
					<td width="188" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>000-25349</font></b></p>
					</td>
					<td width="97" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>54-0251350</font></b></p>
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					<td width="52" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size=1>&nbsp;</font></p>
					</td>
					<td width="227" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>(State or other jurisdiction</font></b></p>
					</td>
					<td width="187" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>(Commission</font></b></p>
					</td>
					<td width="99" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>(IRS Employer</font></b></p>
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						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt"><font size=1>&nbsp;</font></p>
					</td>
					<td width="203" nowrap valign=top style="padding:0pt 0pt 12.0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>of incorporation)</font></b></p>
					</td>
					<td width="179" nowrap valign=top style="padding:0pt 0pt 12.0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>File Number)</font></b></p>
					</td>
					<td width="115" nowrap valign=top style="padding:0pt 0pt 12.0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>Identification No.)</font></b></p>
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						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>440 East Commonwealth Boulevard,</font></b></p>
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					<td width="119" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; "></td>
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					<td width="45" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size=1>&nbsp;</font></p>
					</td>
					<td width="245" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>Martinsville, Virginia</font></b></p>
					</td>
					<td width="163" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>24112</font></b></p>
					</td>
					<td width="119" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>(276) 632-0459</font></b></p>
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					<td width="21" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size=1>&nbsp;</font></p>
					</td>
					<td width="263" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>(Address of principal executive offices)</font></b></p>
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					<td width="137" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>(Zip Code)</font></b></p>
					</td>
					<td width="187" nowrap valign=top style="padding:0pt 0pt 0pt 0pt; ">
						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>(Registrant&#146;s telephone number,</font></b></p>
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						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><font size=1>&nbsp;</font></p>
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						<p style="margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt"><b><font size=2>including area code)</font></b></p>
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			<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><b><font size=6>____________________________________</font></b></p>
			<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
			<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.3in;text-align:justify;'><font size=2>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 (</font><i><font size=2>see </font></i><font size=2>General Instruction A.2. below):</font></p>
			<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>
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							<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;line-height:116.64%'><font face=Wingdings>o</font></p>
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							<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:116.64%'><font size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
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			<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.62in; text-indent:-0.38in;text-align:justify;'><font size=2>&nbsp;</font></p>
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							<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:116.64%'><font size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
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			<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.62in; text-indent:-0.38in;text-align:justify;'><font size=2>&nbsp;</font></p>
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							<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:116.64%'><font size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
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							<p style='margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0pt;margin-bottom:0pt;line-height:116.64%'><font size=2>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
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			<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 2.02.</font></b></p> </td>
        <td width="341" nowrap valign=top style='padding:0pt 0pt 12.0pt 0pt; '>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Results of Operations and Financial Condition.</font></b></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>On March 12, 2007, Hooker Furniture Corporation filed a Form 12b-25 notice of late filing regarding its transition report on Form 10-Q for the two-month transition period ended January 28, 2007. In that notice, the Company reported as follows.</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in;text-align:left;'><font size=2>On August 29, 2006, the Company approved a change in its fiscal year. After the fiscal year that ended November 30, 2006, the Company&#146;s fiscal years will end on the Sunday closest to January 31. In connection with the change to the new fiscal year, the Company had a two-month transition period that began December 1, 2006 and ended January 28, 2007. </font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in;text-align:left;'><font size=2>The Company&#146;s transition report on Form 10-Q will report the Company&#146;s results of operations and financial condition for the two-month transition period compared to the first quarter ended February 28, 2006 (three months).</font></p>

<p style=' margin-bottom:12pt; margin-top:0pt; margin-left:1in;text-align:left;'><font size=2>The Company expects to report:</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top style='padding:0pt 0pt 12.0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>net sales for the 2007 two-month transition period of $49.1 million, compared to $85.3 million for the 2006 first quarter. Based on actual shipping days in each period, average daily net sales declined 5.8% to $1,258,000 per day during the 39 -day 2007 transition period compared to $1,335,400 per day during the 42 -day operating period from December 1, 2005 through January 31, 2006 and 8.6% from $1,376,400 per day during the 62 -day 2006 first quarter;  </font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top style='padding:0pt 0pt 12.0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>an operating loss of $17.2 million, or  35.1% of net sales during the 2007 transition period compared to operating income of $5.8 million, or 6.8% of net sales, in the 2006 first quarterly period, principally as a result of:</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="24" valign=top style='padding:0pt 0pt 12.0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&#111;</font></p> </td>
        <td  valign=top style='padding:0pt 0pt 12.0pt 0pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>the $18.4 million non-cash, non-tax deductible charge related to the termination of the Company&#146;s ESOP, which amounted to 37.6% of net sales; and</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&#111;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>$3.0 million in restructuring charges, which amounted to 6.1% of net sales, principally for severance and termination benefits ($2.3 million) related to the planned closing of the Martinsville, Va. facility and costs to prepare the facility for sale ($655,000);  partially offset by,</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&#111;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>improvement in gross profit margin to 27.8% of net sales, for the 2007 two-month transition period, compared to 26.9% of net sales, for the 2006 first quarter; and,</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>&#111;</font></p> </td>
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							<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>a decline in selling and administrative expenses as a percentage of net sales to 19.3% in the 2007 transition period </font><font size=2>compared to 19.9% during the 2006 first quarter principally due to lower warehousing and distribution costs; and</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:2in;text-align:left;'><font size=2>&nbsp;</font></p>

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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:12.0pt'><font size=1>&nbsp;</font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=4><b>&#149;</b></font></p> </td>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>a net loss of $17.6 million, or $1.45 per share for the 2007 two-month transition period, compared to net income of $3.6 million, or $0.30 per share, for the 2006 first quarter.</font></p> </td> </tr></table>
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			<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>The Company expects that its transition report on Form 10-Q will be filed on or before March 14, 2007 and that it will hold a previously announced investor call regarding the results of the two-month transition period ended January 28, 2007 via teleconference and live internet web cast on Friday morning March 16, 2007 at 9:00 AM Eastern Standard Time. The dial in number for domestic callers is (800) 565-5442 and (913) 312-1298 for international callers. The call will be simultaneously web cast and archived for replay on the Company&#146;s web site at </font><u><font size=2>www.hookerfurniture.com</font></u><font size=2> in the Investor Relations section.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>3</font></p>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:center;'><b><font size=2>Signature</font></b></p>

<p style=' margin-bottom:12pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>HOOKER FURNITURE CORPORATION</font></p> </td> </tr></table>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By: </font><u><font size=2>/s/ R. Gary Armbrister</font></u></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>R. Gary Armbrister</font></p> </td> </tr></table>
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            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Chief Accounting Officer</font></p> </td> </tr></table>
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<p style=' margin-bottom:12pt; margin-top:0pt;text-align:left;'><font size=2>Date:  March 12, 2007</font></p>

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			<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>4</font></p>
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