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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000315374-06-000008.txt : 20060224
<SEC-HEADER>0000315374-06-000008.hdr.sgml : 20060224
<ACCEPTANCE-DATETIME>20060224091344
ACCESSION NUMBER:		0000315374-06-000008
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060131
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060224
DATE AS OF CHANGE:		20060224

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HURCO COMPANIES INC
		CENTRAL INDEX KEY:			0000315374
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				351150732
		STATE OF INCORPORATION:			IN
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-09143
		FILM NUMBER:		06641098

	BUSINESS ADDRESS:	
		STREET 1:		ONE TECHNOLOGY WAY
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46268
		BUSINESS PHONE:		3172935309

	MAIL ADDRESS:	
		STREET 1:		ONE TECHNOLOGY WAY
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46268

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HURCO MANUFACTURING CO INC
		DATE OF NAME CHANGE:	19850324
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
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<DESCRIPTION>CURRENT REPORT, ITEMS 2.02 AND 9.01
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      Current report, items 2.02 and 9.01
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
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      February 23, 2006, Hurco Companies, Inc. (the "Registrant") reported its results
      of operations for the first quarter ended January 31, 2006. The Registrant's
      earnings release for the period is attached as Exhibit 99 and the information
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      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></div>
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    <div>&#160;</div>
    <div>
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          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:
                February 23, 2006</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">&#160;</td>
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          <tr>
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            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">HURCO
                COMPANIES, INC</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">&#160;</td>
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          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:
                </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                Stephen J. Alesia</font></div>
            </td>
          </tr>
          <tr>
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            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
                President and</font></div>
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          </tr>
          <tr>
            <td align="left" valign="top" width="40%">&#160;</td>
            <td align="left" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
                Financial Officer</font></div>
            </td>
          </tr>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>q1earningselease.htm
<DESCRIPTION>Q1 EARNINGS RELEASE
<TEXT>
<html>
  <head>
    <title>
      Q1 Earnings Release
</title>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER
- -SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;EXHIBIT
      99</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FOR
      IMMEDIATE RELEASE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>THURSDAY,
      FEBRUARY 23, 2006</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>HURCO
      REPORTS RECORD ORDERS IN FIRST QUARTER 2006 RESULTS</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>INDIANAPOLIS,
      INDIANA, &#8212; February 23, 2006, Hurco Companies, Inc. (NASDAQ:
      HURC)</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      today
      reported net income of $3,033,000 or $.48 per share, for its first fiscal
      quarter, which ended January 31, 2006, compared to $3,030,000 or $.48 per share,
      for the corresponding period in 2005.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      Company noted that its provision for income taxes increased by approximately
      $1,250,000 during the first quarter of fiscal 2006, due primarily to the
      Company&#8217;s utilization of substantially all of its domestic net operating loss
      carryforwards during the fourth quarter of fiscal 2005. Income before taxes
      for
      the latest quarter was $4,651,000, an increase of 37% over the $3,399,000
      reported in the same period one year ago. </font></div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Sales
      and
      service fees for the first quarter of fiscal 2006 were $31,894,000, an increase
      of 5% from the amount for the prior year period. Due to the effects of a
      stronger U.S. Dollar when translating foreign sales for financial reporting
      purposes, sales and service fees for the first quarter of fiscal 2006 were
      approximately $1,800,000 less than would have been the case if foreign sales
      had
      been translated at the same rate of exchange that was utilized for the first
      quarter of 2005. Unit shipments increased by 19% on a quarter-to-quarter basis,
      with the largest increase occurring in North America.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">New
      orders booked during the first quarter of fiscal 2006 totaled $37,790,000,
      a new
      record and an increase of $10,906,000, or 41%, over the amount recorded in
      the
      first quarter of fiscal 2005, notwithstanding the adverse effects of currency
      translation. Orders were strong worldwide and unit orders increased 59%, 44%
      and
      86% in North America, Europe and Asia, respectively.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gross
      margin for the first quarter of fiscal 2006 was 34% compared to 32% for the
      prior year period. Selling, general and administrative expenses were $6,296,000,
      a slight increase from the $6,187,000 reported in the prior year period.
</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operating
      income for the first quarter was $4,631,000, or 15% of sales and service fees,
      compared to $3,553,000, or 12% of sales and service fees in the 2005
      period.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Michael
      Doar, Chief Executive Officer, stated, &#8220;We are pleased with the first quarter
      increase in operating income and the record order intake. We are continuing
      to
      increase production at our wholly-owned manufacturing facility in Taiwan to
      meet
      the increase in our order rate.&#8221;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Hurco
      Companies, Inc. is an industrial technology company that designs and produces
      interactive computer controls, software and computerized machine tools for
      the
      worldwide metal cutting and metal forming industry. The end market for the
      Company's products consists primarily of independent job shops and short-run
      manufacturing operations within large corporations in industries such as the
      aerospace, defense, medical equipment, energy, transportation and computer
      equipment. The Company is based in Indianapolis, Indiana, and has sales,
      application engineering and service subsidiaries in High Wycombe, England;
      Munich, Germany; Paris, France; Milan, Italy; Shanghai, China and Singapore,
      along with manufacturing operations in Taiwan. Products are sold through
      independent agents and distributors in the United States, Europe and Asia.
      The
      Company also has direct sales forces in the United Kingdom, Germany, France,
      Italy, and Asia. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Web
      Site:
</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>www.hurco.com</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -18pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>This
      news release contains forward looking statements which involve known and unknown
      risks, uncertainties and other factors that may cause our actual results,
      performance or achievements to be materially different from any future results,
      performance or achievements expressed or implied by such forward-looking
      statements. These factors include, among others, changes in general economic
      and
      business conditions that affect demand for computerized machine systems,
      computer numerical control systems and software products, changes in
      manufacturing markets, innovations by competitors, quality and delivery
      performance by our contract manufacturers and governmental actions and
      initiatives including import and export restrictions and
      tariffs.</em></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -18pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -18pt" align="justify">&#160;</div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: -18pt" align="justify">&#160;</div>
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      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="55%">&#160;</td>
              <td valign="top" width="9%">&#160;</td>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td colspan="4" valign="top" width="77%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;Hurco
                  Companies, Inc.</strong></font></div>
              </td>
            </tr>
            <tr>
              <td colspan="4" valign="top" width="77%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;CONDENSED
                  CONSOLIDATED STATEMENT OF OPERATIONS</strong></font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(In
                  thousands, except per-share data)</font></div>
              </td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</td>
              <td align="left" colspan="3" valign="top" width="22%">
                <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" colspan="3" valign="top" width="22%" style="border-bottom: black thin solid;">&#160;

                <div style="MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Three
                  Months Ended January 31,</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%" style="border-bottom: black thin solid;">&#160;</td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                  2006</font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;&#160;&#160;&#160;</td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font></font>2005</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;
                  (unaudited) </font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Sales
                  and service fees</strong></font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  31,894 </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  30,246 </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cost
                  of sales and service</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
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              <td align="left" valign="top" width="4%">
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              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
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                  20,506 </font></div>
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              <td align="left" valign="top" width="9%">
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
                  9,740 </font></div>
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              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
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            <tr>
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              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;
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              <td align="left" valign="top" width="4%">
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              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
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                  6,187 </font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;
                  3,553 </font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Interest
                  expense</font></div>
              </td>
              <td align="left" valign="top" width="9%">
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>83
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            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
                  (income) expense, net</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>71
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            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
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              <td align="left" valign="top" width="9%">
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;
                  3,399 </font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Provision
                  for income taxes</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>1,618
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              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;
                  369 </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Net
                  income </strong></font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font>$
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              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  3,030
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              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Earnings
                  per common share</strong></font></div>
              </td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Basic</strong></font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  0.49
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              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  0.50
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              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Diluted</strong></font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  0.48
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  0.48
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Weighted
                  average common shares outstanding</strong></font></div>
              </td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Basic</strong></font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;6,242
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;6,071
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              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Diluted</strong></font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;6,328
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;6,270
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>OTHER
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              </td>
              <td align="left" colspan="3" valign="top" width="22%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" colspan="3" valign="top" width="22%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Three
                  Months Ended January 31,</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Operating
                  Data:</strong></font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;2006</font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;2005</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</td>
              <td align="left" valign="top" width="9%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;(unaudited)
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Gross
                  margin</font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;34.3%</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt">&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;32.2%</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SG&amp;A
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              <td align="left" valign="top" width="9%">
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              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;20.5%</font></div>
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            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Operating
                  income as a percentage of sales</font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;14.5%</font></div>
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              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;11.7%</font></div>
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            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-tax
                  income as a percentage of sales&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font></div>
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              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;14.6%</font></div>
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              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;11.2%</font></div>
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            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
                  tax rate</font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;34.8%</font></div>
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              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;10.9%</font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Depreciation<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;365</font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;317
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Capital
                  expenditures </font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;492</font></div>
              </td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;623
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Balance
                  Sheet Data:</strong></font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;1/31/2006</font></div>
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              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;10/31/2005</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Working
                  capital</font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  48,241 </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  43,183 </font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Days
                  sales outstanding</font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;47
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;41
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Inventory
                  turns</font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;2.8</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;2.6</font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="55%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Capitalization</font></div>
              </td>
              <td align="left" valign="top" width="9%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="9%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
                  Debt</font></div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  4,106
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  4,136
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              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Shareholders'
                  Equity</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;64,151
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;58,944
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="55%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total</font></div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  68,257 </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="9%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  63,080 </font></div>
              </td>
            </tr>

        </table>
      </div>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div><br>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td valign="top" width="53%">&#160;</td>
              <td valign="top" width="10%">&#160;</td>
              <td valign="top" width="4%">&#160;</td>
              <td valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td colspan="4" valign="top" width="77%">
                <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>Hurco
                  Companies, Inc.</strong></font></div>
              </td>
            </tr>
            <tr>
              <td colspan="4" valign="top" width="77%">
                <div align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CONDENSED
                  CONSOLIDATED BALANCE SHEET</strong></font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(In
                  thousands, except per-share data)</font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">January
                  31,</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">October
                  31,</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%" style="border-bottom: black thin solid;">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2006</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2005</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(unaudited)
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(audited)
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ASSETS</strong></font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Current
                  assets:</strong></font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Cash
                  and cash equivalents</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  21,562</font></div>
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              <td align="left" valign="top" width="4%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  17,559 </font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accounts
                  receivable</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font>18,686
</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font>20,100
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              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
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              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;
</font>31,375
</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right">&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;
</font>29,530
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Deferred
                  tax assets, net</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;
                  2,686 </font></div>
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font></font>3,043</font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
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              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;
                  4,041 </font></div>
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>3,586
</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
                  current assets</font></div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;78,350
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;73,818
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            </tr>
            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Property
                  and equipment:</strong></font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Land</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>761
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;
                  761 </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Building</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;
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              <td align="left" valign="top" width="4%">
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              </td>
              <td align="left" valign="top" width="10%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;
7,205
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              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Machinery
                  and equipment</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt"></font>13,286
</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;
</font>13,170
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Leasehold
                  improvements<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</font></div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;
1</font>,140</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;
1,102
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;
22,392
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;22,238
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              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Less
                  accumulated depreciation and amortization</font></div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;(13,499)</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;(13,187)</font></div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font>8,893
</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
                  9,051 </font></div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Non-current
                  assets:</strong></font></div>
              </td>
              <td align="right" valign="top" width="10%">&#160;</td>
              <td align="right" valign="top" width="4%">&#160;</td>
              <td align="right" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="right" valign="top" width="53%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Deferred
                  tax assets, net</font></div>
              </td>
              <td align="right" valign="top" width="10%">
                <div align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1,307
                  </font></div>
              </td>
              <td align="right" valign="top" width="4%">&#160;</td>
              <td align="right" valign="top" width="10%">
                <div align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1,346
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="53%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Software
                  development costs, less amortization</font></div>
              </td>
              <td align="right" valign="top" width="10%">
                <div align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">4,093
                  </font></div>
              </td>
              <td align="right" valign="top" width="4%">&#160;</td>
              <td align="right" valign="top" width="10%">
                <div align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3,752
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="53%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investments
                  and other assets</font></div>
              </td>
              <td align="right" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6,215
                  </font></div>
              </td>
              <td align="right" valign="top" width="4%">&#160;</td>
              <td align="right" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6,147
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font>$
                  98,858 </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font>$
                  94,114
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="right" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>LIABILITIES
                  AND SHAREHOLDER'S EQUITY</strong></font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="right" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Current
                  liabilities:</strong></font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
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            <tr>
              <td align="left" valign="top" width="53%">
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              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  19,734 </font></div>
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  17,051 </font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accrued
                  expenses</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
                  10,375 </font></div>
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              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;
                  13,584 </font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Current
                  portion of long-term debt</font></div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>128
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              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>126
                  </font></div>
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            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
                  current liabilities</font></div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font>30,237
</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;
                  30,761 </font></div>
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            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Non-current
                  liabilities:</strong></font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Long-term
                  debt</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;
3,978
                  </font></div>
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              <td align="left" valign="top" width="4%">
                <div>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;
4,010
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Defered
                  credits and other obligations</font></div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;
                  492 </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;
                  399 </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
                  liabilities</font></div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;34,707
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              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;35,170
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              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Shareholders'
                  equity:</strong></font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Preferred
                  stock: no par value per share; 1,000,000 shares</font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">authorized;
                  no shares issued</font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Common
                  stock: no par value; $.10 stated value per share;</font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">12,500,000
                  shares authorized; and 6,341,020 and</font></div>
              </td>
              <td align="left" valign="top" width="10%">&#160;</td>
              <td align="left" valign="top" width="4%">&#160;</td>
              <td align="left" valign="top" width="10%">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">6,220,220
                  shares issued, respectively</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;
                  634 </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;
                  622 </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Additional
                  paid-in capital</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font></font>49,723
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;48,701
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Retained
                  earnings</font></div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>16,034
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;13,001
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Accumulated
                  other comprehensive income</font></div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;(2,240)</font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;(3,380)</font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Total
                  shareholders' equity</font></div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;64,151
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black thin solid;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;58,944
                  </font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="53%">&#160;</td>
              <td align="left" valign="top" width="10%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;</font>$
                  98,858
                  </font></div>
              </td>
              <td align="left" valign="top" width="4%">
                <div>&#160;</div>
              </td>
              <td align="left" valign="top" width="10%" style="border-bottom: black double;">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font>&#160;$
                  94,114 </font></div>
              </td>
            </tr>

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        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
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        </div>
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</TEXT>
</DOCUMENT>
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