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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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<SEC-DOCUMENT>0001003297-00-000117.txt : 20000516
<SEC-HEADER>0001003297-00-000117.hdr.sgml : 20000516
ACCESSION NUMBER:		0001003297-00-000117
CONFORMED SUBMISSION TYPE:	10QSB
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20000331
FILED AS OF DATE:		20000515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRO DEX INC
		CENTRAL INDEX KEY:			0000788920
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MEDICAL, DENTAL & HOSPITAL EQUIPMENT & SUPPLIES [5047]
		IRS NUMBER:				841261240
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		10QSB
		SEC ACT:		
		SEC FILE NUMBER:	000-14942
		FILM NUMBER:		632893

	BUSINESS ADDRESS:	
		STREET 1:		1401 WALNUT ST STE 500
		CITY:			BOULDER
		STATE:			CO
		ZIP:			80302-5333
		BUSINESS PHONE:		3034438165

	MAIL ADDRESS:	
		STREET 1:		1401 WALNUT STREET
		STREET 2:		SUITE 540
		CITY:			BOULDER
		STATE:			CO
		ZIP:			80302
</SEC-HEADER>
<DOCUMENT>
<TYPE>10QSB
<SEQUENCE>1
<TEXT>

<HTML>
<HEAD>
<TITLE>Prepared by Monique Price & Company -- www.edgar2.net</TITLE>
</HEAD>
<BODY LINK="#0000ff" VLINK="#800080">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">U.S. SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>
<P ALIGN="CENTER">_________________________</P>
<P ALIGN="CENTER">FORM 10-QSB</P>
<P ALIGN="CENTER">(Mark One)<BR>
[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2000.</P><DIR>
<DIR>

<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P></DIR>
</DIR>

<P ALIGN="CENTER">Commission File Number 0-14942</P>
<U><P ALIGN="CENTER">PRO-DEX, INC.<BR>
</U>(Name of small business issuer in its charter)</P></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=638>
<TR><TD WIDTH="50%" VALIGN="TOP">
<P ALIGN="CENTER"><U><FONT FACE="Arial Narrow">Colorado</U></FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">84-1261240</U></FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(State or other jurisdiction of <BR>
Incorporation or organization)</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(IRS Employer ID No.)</FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<U><P ALIGN="CENTER">650 S. Taylor Avenue, Suite 20A, Louisville, CO 80027<BR>
</U>(Address of principal executive offices)</P>
<P ALIGN="CENTER">Issuer's telephone number: <U>(303) 443-6136</P>
</U><P ALIGN="CENTER">Securities registered under Section 12(b) of the Exchange Act:</P></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=634>
<TR><TD WIDTH="49%" VALIGN="TOP">
<P ALIGN="CENTER"><U><FONT FACE="Arial Narrow"><BR>
Title of each class</U></FONT></TD>
<TD WIDTH="51%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Name of each exchange<U><BR>
on which registered</U></FONT></TD>
</TR>
<TR><TD WIDTH="49%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">None</FONT></TD>
<TD WIDTH="51%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">None</FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">Securities registered under Section 12(g) of the Exchange Act:</P>
<U><P ALIGN="CENTER">Common Stock, no par value<BR>
</U>(Title of class)</P><DIR>

<P>The number of shares of the Registrant's no par value common stock outstanding as of May 8, 2000 was 8,787,300.</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P></DIR>

<B><P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES</P>
</B><P ALIGN="CENTER">&nbsp;</P><DIR>
<DIR>

<P ALIGN="CENTER">DOCUMENTS INCORPORATED BY REFERENCE: None.</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P></DIR>
</DIR>

<U><P ALIGN="CENTER">Table of Contents</P></U></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=678>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">Page No.</U></FONT></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">PART I</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Financial Information</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Item 1.</FONT></TD>
<TD WIDTH="56%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Financial Statements</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Consolidated Balance Sheets</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">1</FONT></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Consolidated Statements of Operations</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">3</FONT></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Consolidated Statements of Cash Flow</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">5</FONT></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Notes to Consolidated Financial Statements</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">6</FONT></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Item 2.</FONT></TD>
<TD WIDTH="56%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Management Discussion and Analysis</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">9</FONT></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>PART II</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Other Information</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Item 6.</FONT></TD>
<TD WIDTH="56%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Exhibits and Reports on Form 8-K</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">13</FONT></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">SIGNATURES</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">13</FONT></TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">EXHIBITS</FONT></TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">NONE</FONT></TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="19%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="56%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
</TABLE>

<B><FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES</P>
<P ALIGN="CENTER">CONSOLIDATED BALANCE SHEETS</P>
<P ALIGN="CENTER">ASSETS</P></B></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=674>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">March 31<BR>
<U>2000</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">June 30,<BR>
<U>1999</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>Current assets:</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">529,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">107,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net of allowance for doubtful<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;accounts of $69,000 and $40,000</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,508,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,157,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=18>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories, net</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=18>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,520,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=18><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=18>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,699,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">430,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,200,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;189,000&nbsp;</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;148,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;9,176,000&nbsp;</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;9,311,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>Property and equipment</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,219,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,053,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less accumulated depreciation</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;(3,431,000)</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;(2,942,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net property and equipment</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;2,788,000&nbsp;</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;3,111,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>Other assets:</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,700,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,700,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">365,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">354,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangibles, net</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;2,973,000&nbsp;</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;3,222,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other assets</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;5,038,000&nbsp;</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;5,276,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">17,002,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">17,698,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=37><P></P></TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=37><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" COLSPAN=2 HEIGHT=37>
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2 HEIGHT=37><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=37>
<P ALIGN="RIGHT">========</TD>
</TR>
</TABLE>

<P> See "Notes to Consolidated Financial Statements." </P>

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES</P>
<P ALIGN="CENTER">CONSOLIDATED BALANCE SHEETS - CONTINUED</P>
<P ALIGN="CENTER">LIABILITIES &amp; SHAREHOLDERS' EQUITY</P></B></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=684>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">March 31,<BR>
<U>&nbsp;&nbsp;&nbsp;2000&nbsp;&nbsp;&nbsp;<BR>
(</U>unaudited)</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">June 30,<BR>
<U>&nbsp;&nbsp;&nbsp;1999&nbsp;&nbsp;&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>Current liabilities:</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,008,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,691,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,864,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,047,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;1,769,000&nbsp;</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;1,590,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">11,641,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">13,328,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>Long-term debt, net of current portion</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0&nbsp;</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;11,641,000&nbsp;</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;13,471,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>Commitments and contingencies</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>Shareholders' equity:</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A convertible preferred shares, </FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no par value; 10,000,000</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares authorized; 78,129 shares </FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued and outstanding</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">283,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">283,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common shares, no par value; 50,000,000 </FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares authorized; 8,787,300 shares </FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;issued and outstanding</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">14,838,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">14,838,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>Accumulated deficit</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;(9,628,000)</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;(10,744,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">5,493,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,377,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable for stock purchase</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(132,000)</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(150,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;5,361,000&nbsp;</U></FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;4,227,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">17,002,000&nbsp;</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">17,698,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=4>
<P ALIGN="RIGHT">=========</TD>
<TD WIDTH="5%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">=========</TD>
</TR>
</TABLE>
<P> See "Notes to Consolidated Financial Statements." </P>

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES</P>
<P ALIGN="CENTER">CONSOLIDATED STATEMENTS OF OPERATIONS</P></B></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=619>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="42%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Quarter ended March 31,</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">2000</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">1999</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Net sales</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,847,000&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,177,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Cost of sales (Includes rent paid to a director of </FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$87,000 and $86,000 for 2000 and 1999)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;3,361,000&nbsp;</U></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;2,204,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Gross profits</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;3,486,000&nbsp;</U></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;1,973,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Operating expenses:</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,039,000&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,215,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,059,000&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,076,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Research and development </FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">436,000&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">458,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122,000&nbsp;</U></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;2,656,000&nbsp;</U></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;2,945,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Income (loss) from operations</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830,000&nbsp;</U></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(972,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Other income (expense):</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest (expense)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(290,000)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(211,000)</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income, net</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25,000&nbsp;</U></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(265,000)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;<FONT FACE="Arial Narrow">(197,000)</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Income (Loss) before income taxes (credits)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">565,000&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,169,000)</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Income taxes (credits)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254,000&nbsp;</U></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(467,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Net income (loss)</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">311,000&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(702,000)</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">========&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">========&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Basic and diluted net earnings (loss) per common and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;common equivalent share</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0.04&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(0.08)</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Basic weighted average number of common and </FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equivalent shares outstanding</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,787,300&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,787,300&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Diluted weighted average number of common and </FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="58%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equivalent shares outstanding</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,829,633&nbsp;</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,787,300&nbsp;</FONT></TD>
</TR>
</TABLE>
<P> See "Notes to Consolidated Financial Statements." </P>


<B><FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES </P>
<P ALIGN="CENTER">CONSOLIDATED STATEMENTS OF OPERATIONS</P></B></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=638>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="40%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Nine months ended March 31,</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">2000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">1999</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Net sales</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">19,038,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">13,047,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=10>
<FONT FACE="Arial Narrow"><P>Cost of sales (Includes rent paid to a director of </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$262,000 and $257,000 for 2000 and 1999)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;8,673,000&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;6,667,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Gross profits</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;10,365,000&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;6,380,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Operating expenses:</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,840,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,656,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,225,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,119,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Research and development </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,257,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,205,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">366,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">587,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unusual Charges</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;7,688,000&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;9,406,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP" HEIGHT=20><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=20><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=20><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=20><P></P></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=20><P></P></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Income (loss) from operations</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;2,677,000&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;(3,026,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Other income (expense):</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest (expense)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(808,000)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(646,000)</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income, net</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,000&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(800,000)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;(605,000)</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Income (loss) before income taxes (credits)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,877,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(3,631,000)</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Income taxes (credits)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761,000&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;(1,452,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Net income (loss)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,116,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(2,179,000)</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">========&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;========</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Basic and diluted net earnings (loss) per common and </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equivalent share</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0.13&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(0.25)</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Basic weighted average number of common and </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equivalent shares outstanding</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,787,300&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,787,300&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Diluted weighted average number of common and </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="60%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equivalent shares outstanding</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,829,633&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="17%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">8,787,300&nbsp;</FONT></TD>
</TR>
</TABLE>
<P> See "Notes to Consolidated Financial Statements." </P>



<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<B><P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES </P>
<P ALIGN="CENTER">CONSOLIDATED STATEMENTS OF CASH FLOWS</P></B></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=636>
<TR><TD VALIGN="TOP" COLSPAN=5>
<P ALIGN="RIGHT"><FONT FACE="Arial Narrow">Nine months ended March 31,</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">2000</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">1999</U></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">(unaudited)</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>CASH FLOWS FROM OPERATING ACTIVITIES</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,116,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(2,179,000)</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income (loss) to net </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;cash provided by operating activities:</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">850,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,060,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for doubtful accounts</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">29,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">770,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,715,000)</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in working capital components net of effects </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;from purchases and divestitures: </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Increase) decrease in accounts receivable</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(343,000)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,668,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Increase) decrease in inventories</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">179,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,055,000)</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Increase) in prepaid expenses</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(42,000)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(313,000)</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Increase) decrease in other assets</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(147,000)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">161,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Decrease) increase in accounts payable </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;and accrued expenses</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,004,000)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,189,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase in income taxes payable</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;1,408,000&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>CASH FLOWS FROM INVESTING ACTIVITIES</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition of investment</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(900,000)</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase of property and equipment </FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;(160,000)</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;(847,000</U>)</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows (used in) investing activities</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;(160,000)</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;(1,747,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>CASH FLOWS FROM FINANCING ACTIVITIES</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from long-term borrowing</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,225,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal payments on long-term borrowing</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;(826,000)</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;(449,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows provided by (used in) financing activities</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;(826,000)</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><P ALIGN="RIGHT">&nbsp;&nbsp;<FONT FACE="Arial Narrow">1,776,000</U></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>INCREASE IN CASH AND CASH EQUIVALENTS</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">422,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">93,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Cash and cash equivalents, beginning of period</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;107,000&nbsp;</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Cash and cash equivalents, end of period</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">529,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">93,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">========&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">========&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="14%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash payments for interest</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">809,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">646,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="65%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash payments for income taxes</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">0</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,000&nbsp;</FONT></TD>
</TR>
</TABLE>
<P> See "Notes to Consolidated Financial Statements." </P>


<B><FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">PRO-DEX, INC. AND SUBSIDIARIES </P>
<P ALIGN="CENTER">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS<BR>
For The Nine Months Ended March 31, 2000</P>
<P ALIGN="JUSTIFY">BASIS OF PRESENTATION</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instruction to
Form 10-QSB and Regulation S-B. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of
normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the nine months ended March 31, 2000 are not necessarily indicative of the results that may be expected for the year ended June 30, 2000. For
further information, refer to the consolidated financial statements and footnotes thereto included in the Company's annual report on Form 10-KSB for the year ended June 30, 1999.</P>
<B><P ALIGN="JUSTIFY">INVENTORIES</P><DIR>
<DIR>

</B><P ALIGN="JUSTIFY">Inventories are stated at the lower of cost (the first-in, first-out method) or market and consist of the following:</P></DIR>
</DIR>
</FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=644>
<TR><TD WIDTH="56%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2000</U></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1999</U></FONT></TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Raw materials</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$ &nbsp;&nbsp;972,000&nbsp;</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$ &nbsp;&nbsp;852,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Work in process</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">440,000&nbsp;</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">486,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Finished goods</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,784,000&nbsp;</U></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;4,249,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP" HEIGHT=17>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=17>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">5,196,000&nbsp;</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" HEIGHT=17>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">5,587,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Reserve for slow moving items</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;(676,000)</U></FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;(888,000)</U></FONT></TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total inventories, net</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;4,520,000&nbsp;</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$&nbsp;4,699,000&nbsp;</FONT></TD>
</TR>
</TABLE>

<B><FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">EARNINGS PER SHARE</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Financial Accounting Standards board has issued Statement No. 128, "Earnings per Share" which supercedes APB Opinion No. 15. Statement No. 128 requires the presentation of basic and diluted earnings
per share amounts. Diluted per share amounts assume the conversion, exercise or issuance of all potential common stock instruments unless the effect is to reduce a loss or increase the income per common share from continuing operations. No adjustments to
net income (loss) were made for purposes of computing diluted earnings per share.</P>
<B><P ALIGN="JUSTIFY">LONG TERM DEBT</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>The Company had a $10,000,000 credit facility with Harris Trust and Savings Bank (the "Bank") secured by all assets of the Company, and guaranteed by each of the Company's subsidiaries. The Company was
required to meet certain financial covenants including minimum tangible net worth, debt to total capitalization, interest coverage, fixed charge coverage, and cash flow. At June 30, 1999 the Company did not meet certain of the financial covenants. On July
24, 1999 the Bank provided the Company an amendment to the credit agreement waiving violations of certain covenants as of June 30, 1999, amending the covenants going forward, and setting a termination date for the facility of December 31, 1999. The
amendment also required the payment of fees of up to $420,000 in the event the Company defaults on conditions contained in the amendment. The Company was unable to pay off the outstanding balance of the credit facility on December 31, 1999. The Bank is
aware of the Company's efforts to secure alternative funding, and has extended its forbearance agreement until July 31, 2000 to enable the Company to secure alternative financing. The Company has paid the bank $180,000 in fees as consideration for
extension of the forbearance agreement.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The amount owed to the Bank as of March 31, 2000 is $3,300,000 on the term loan, and $4,000,000 on a revolving line of credit, subject to a borrowing base equal to the sum of 80% of eligible accounts
receivable, 50% of eligible inventory, 60% of eligible fixed assets, and an intangible advance amount of $800,000. At March 31, 2000, no amounts were available under the revolver/term loan.</P>
<B><P ALIGN="JUSTIFY">SEGMENT INFORMATION </P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's reportable segments are strategic business units that offer different products and services. They are managed separately because each business requires different technology and marketing
strategies.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There are four reportable segments: infection control products, preventive dentistry products, medical/dental equipment, and electronic motion controllers. The accounting policies applied to determine the
segment information are the same as those described in the summary of significant accounting policies. Interest expense is allocated based upon the specific identification of debt incurred by the individual segment. Corporate overhead and the provision
for income taxes are not allocated to the individual reported segments. Inter-segment sales and transfers are accounted for at amounts that management believes provides the transferring segment with fair compensation for the products transferred,
considering their condition, market demand, and, where appropriate, a reasonable profit that recognized which segment will be responsible for marketing costs. Management evaluates the performance of each segment based on income (loss) before income taxes.</P>
<P ALIGN="JUSTIFY">Financial information with respect to the reportable segments follows (in thousands):</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=673>
<TR><TD WIDTH="31%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT FACE="Arial Narrow"><BR>
Nine Months Ended<BR>
March 31, 2000</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Infection<BR>
Control<BR>
Products
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Preventive<BR>
Dentistry<BR>
Products
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Medical/<BR>
Dental<BR>
Equipment
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Electronic<BR>
Motion<BR>
Controllers
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
<BR>
Total
</FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Sales from external customers</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$4,389</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$2,398</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$5,824&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$6,427</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$19,038</FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Inter-segment sales</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">716</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">321&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,037</FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Segment profit (loss)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">926</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">370</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,013)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,106</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,389</FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Segment Assets</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,110</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,646</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">7,191&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,949</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">15,896</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=673>
<TR><TD WIDTH="31%" VALIGN="TOP">
<P ALIGN="CENTER"><FONT FACE="Arial Narrow"><BR>
Nine Months Ended<BR>
March 31, 1999</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Infection<BR>
Control<BR>
Products
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Preventive<BR>
Dentistry<BR>
Products
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Medical/<BR>
Dental<BR>
Equipment
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Electronic<BR>
Motion<BR>
Controllers
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">

<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
<BR>
Total
</FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Sales from external customers</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$3,299&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$2,250</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$4,971&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$2,527&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$13,047&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Inter-segment sales</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">630</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">839&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,469&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Segment profit (loss)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(274)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">63</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,512)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(46)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,769)</FONT></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="31%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Segment Assets</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,858&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,678</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">7,968&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,968&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">15,472&nbsp;</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">The following schedules are presented to reconcile amounts in the foregoing segment information to the amounts reported in the Company's consolidated financial statements (in thousands):</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=630>
<TR><TD WIDTH="35%" VALIGN="TOP" HEIGHT=18>
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">&nbsp;</FONT></TD>
<TD WIDTH="33%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=18>
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">2000 </U></FONT></TD>
<TD WIDTH="33%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=18>
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">1999</U></FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Profit/(loss)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Assets</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Profit/(loss)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Assets</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Total for reportable segments </FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,389&nbsp;</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">15,896</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,769)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">15,472</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Inter-segment / profit</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(7)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(54)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Unallocated amounts:</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,191)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,106&nbsp;</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,234)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,798</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unusual charges</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(394)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other expense, net</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(314)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(180)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP" HEIGHT=20>
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=20>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,877&nbsp;</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=20>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">17,002&nbsp;</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=20>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(3,631)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP" HEIGHT=20>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">18,270</FONT></TD>
</TR>
</TABLE>

<B><FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</P></B></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=700>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
Quarter ended<BR>
March 31, 2000</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Infection<BR>
Control<BR>
Products</DIR>
</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Preventive<BR>
Dentistry<BR>
Products</DIR>
</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Medical/<BR>
Dental<BR>
Equipment</DIR>
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Electronic<BR>
Motion<BR>
Controllers</DIR>
</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY"><BR>
<BR>
Total</DIR>
</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Sales from external customers</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$1,475</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$872</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$2,172&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$2,328</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$6,847</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Inter-segment sales</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">230</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">47&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">277</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Segment profit (loss)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">282</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">92</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(390)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,025</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,009</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Segment Assets</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,110</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,646</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">7,191&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,949</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">15,896</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 WIDTH=700>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
Quarter ended <BR>
March 31, 1999</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Infection<BR>
Control<BR>
Products</DIR>
</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Preventive<BR>
Dentistry<BR>
Products</DIR>
</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Medical/<BR>
Dental<BR>
Equipment</DIR>
</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Electronic<BR>
Motion<BR>
Controllers</DIR>
</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP"><DIR>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY"><BR>
<BR>
Total</DIR>
</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Sales from external customers</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$704&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$701&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$1,614&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$1,158</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=13>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$4,177&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Inter-segment sales</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">148&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">353&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">501&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Segment profit (loss)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(266)</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(139)</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(649)</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">367</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(687)</FONT></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="14%" VALIGN="TOP" HEIGHT=10><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=10><P></P></TD>
</TR>
<TR><TD WIDTH="32%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="LEFT">Segment Assets</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,858&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,678&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">7,968&nbsp;</FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,968</FONT></TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">15,472&nbsp;</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">The following schedules are presented to reconcile amounts in the foregoing segment information to the amounts reported in the Company's consolidated financial statements (in thousands):</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=630>
<TR><TD WIDTH="35%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="33%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=18>
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">2000 </U></FONT></TD>
<TD WIDTH="33%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=18>
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER">1999</U></FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Profit/(loss)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Assets</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Profit/(loss)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Assets</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Total for reportable segments </FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,009&nbsp;</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">15,896</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(687)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">15,472</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Inter-segment / profit</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">11&nbsp;</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(26)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Unallocated amounts:</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="16%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(346)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,106</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(404)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,798</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other expense, net</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(108)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(52)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">--</FONT></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">566&nbsp;</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">17,002</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(1,169)</FONT></TD>
<TD WIDTH="16%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">18,270</FONT></TD>
</TR>
</TABLE>

<B><FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">Item 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management's Discussion and Analysis<U> </P>
</U><P ALIGN="JUSTIFY">Results of Operations</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Forward Looking Statements. All forward looking statements in the following discussion of management's analysis of results of operation, liquidity and capital requirements, and the possible effect of
inflation, as well as elsewhere in the Company's assumptions regarding factors such as (1) market acceptance of the products of each subsidiary, including brand and name recognition for quality and value in each of the Company's subsidiaries' markets, (2)
existence, scope, defensibility and non-infringement of patents, trade-secrets and other trade rights, (3) each subsidiary's relative success in achieving and maintaining technical parity or superiority with competitors, (4) interest rates for domestic
and Eurofunds, (5) the relative success of each subsidiary in attracting and retaining technical and sales personnel with the requisite skills to develop, manufacture and market the Company's products, (6) the non-occurrence of general economic downturns
or downturns in any of the Company's market regions or industries (such as dental products and tools or computer chip manufacturers), (7) the relative competitiveness of products manufactured by the Company's facilities, including any contractors in the
global economy, (8) the non-occurrence of natural disasters, (9) a stable regulatory environment in areas of significance to each of the Company's subsidiaries, (10) the Company's success in managing its regulatory relations and avoiding any adverse
determinations, (11) the availability of talented senior executives for the parent and each of the subsidiaries, (12) other factors affecting the sales and profitability of the Company in each of its markets. Should any of the foregoing assumptions or
other assumptions not listed fail to be realized, the forward-looking statements herein may be inaccurate. In making forward looking statements in this and other Sections of the Company's report on Form 10-QSB, the Company relies upon recently promulgated
policies of the Securities and Exchange Commission and statutory provisions, including Section 21E of the Securities Exchange Act of 1934, which provide a safe-harbor for forward looking statements.</P>
<B><P ALIGN="JUSTIFY">Results of Operations for the Quarter Ended March 31, 2000 Compared to the Quarter Ended March 31, 2000.</P>
</B><P>Net sales by subsidiary follows:</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=610>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
2000</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
1999</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Increase/<BR>
<U>(Decrease</U>)</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Biotrol</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,183,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,435,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">748,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Challenge</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">630,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">474,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">156,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Micro Motors</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,983,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,611,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">372,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Oregon Micro Systems</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,328,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,158,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,170,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>(Inter-company sales)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(277,000)</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(501,000)</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">224,000</U></FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,847,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,177,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,670,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">=======</TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated sales increased 63.9% for the quarter ended March 31, 2000 compared to the quarter ended March 31, 1999 mainly due to an increase in quantity of units sold at all
locations. At Biotrol, sales for the quarter increased 52.1% compared to the same quarter of the previous year. Biotrol has recovered from the negative affect of the consolidation of three of its top four customers. In the third quarter of the previous
year Biotrol lost revenue resulting from sales of its products originally sold as export being resold by the exporters to Biotrol's domestic customers. It is impossible to calculate how much revenue was lost in the third quarter of fiscal 1999 due to gray
market sales. Management estimates that approximately $600K of revenue was lost to gray market in all of fiscal 1999. At Challenge, sales increased by 33% for the quarter. Sales to private label customers increased 23%, and inter-company sales to Biotrol
increased 54.9%. Challenge's private label business has expanded due to an increase in the number of private label customers, as well as additional market penetration of existing customers. Overall sales at Micro Motors increased by 23.1% compared to the
same quarter of the previous year. External sales increased by 53.8% for the quarter compared to the same quarter in the previous year. Revenue at OMS increased by 101% for the quarter ended March 31, 2000, compared to the quarter ended March 31, 1999. An
increase in the demand for computer chips has increased the demand for semiconductor fabrication equipment manufactured by several OMS customers contributing mainly to the increase in revenue at OMS. </P>
<P>Gross profits by subsidiary follows:</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=610>
<TR><TD WIDTH="45%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
2000</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
1999</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Increase<BR>
<U>(Decrease)</U></FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Biotrol</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,223,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">563,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">660,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Challenge</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">209,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">161,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">48,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Micro Motors</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">358,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">337,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">21,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Oregon Micro Systems</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,696,000</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">912,000</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">784,000</U></FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P>$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,486,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,973,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,513,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<P ALIGN="RIGHT">========</TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated gross profit dollars increased by 76.7% for the quarter ended March 31, 2000, compared to the quarter ended March 31, 1999, due primarily to an increase in revenue.
Gross profit percentage for the quarter ended March 31, 2000, was 50.9% compared to 47.2% for the quarter ended March 31, 1999. Gross profit percentages increased at Biotrol and OMS due to the increase in revenue. Gross profit margin at Challenge Products
remained the same. At Micro Motors, larger revenue from lower margin products as well increased manufacturing costs required to reduce the backlog of overdue shipments were the principle reasons for a lower gross profit percentage. The backlog has been
eliminated at Micro Motors, and steps to improve gross profits on all low margin products have been implemented. </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses for the quarter ended March 31, 2000, were $2,656,000 compared to $2,945,000 for the quarter ended March 31, 1999, a decrease of 9.8%. Many cost reductions established during the fourth
quarter of the previous fiscal year are fully implemented, and have resulted in reduced operating expenses in the current year. Another factor contributing to lower operating expenses was the write-off of goodwill at the end of the previous fiscal year.
The write-off lowered the quarter's operating expense by $74,000.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from operations for the quarter ended March 31, 2000 was $830,000 compared to (loss) from operations of ($972,000) for the quarter ended March 31, 1999, an increase of $1,802,000. Increased revenue
and reduced operating expenses are the main reasons for the improvement in operating income. </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense increased to $290,000 for the quarter ended March 31, 2000, compared to $211,000 for the same quarter in the previous year in spite of a decrease in the Company's bank debt. The Company's
lender increased the borrowing rate in March 2000 by 2% due to prior loan covenant defaults, and charged an $80,000 fee to extend its forbearance agreement to the Company. (See "Notes to Consolidated Financial Statements" - Long Term Debt.) </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's effective income tax rate is 45% for the quarter ended March 31, 2000 compared to 40% for the quarter ended March 31, 1999. The Company includes as an operating expense a charge-off for
goodwill that is not tax deductible, effectively increasing its corporate income tax above the approximate combined federal and state statutory rate of 38%.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income for the quarter ended March 31, 2000 was $311,000, or $.04 per share compared to a net (loss) of ($702,000), or ($.08) per share for the same quarter in the previous year.</P>
<B><P>Results of Operations for the Nine Months Ended March 31, 2000 Compared to the Nine Months Ended<BR>
March 31, 1999.</P>
</B><P ALIGN="JUSTIFY">Net sales by subsidiary follows:</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=610>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
2000</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
1999</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Increase/<BR>
<U>(Decrease)</U></FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Biotrol</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,496,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">5,739,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">757,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Challenge</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,739,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,668,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">71,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Micro Motors</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">5,413,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">4,581,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">832,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Oregon Micro Systems</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,427,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,527,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,900,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>(Inter-company sales)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;(1,037,000)</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;(1,468,000)</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431,000</U></FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">19,038,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">13,047,000&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">5,991,000</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P ALIGN="RIGHT">=========</TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Consolidated sales from continuing operations increased 45.9% for the nine months ended March 31, 2000, compared to the nine months ended March 31, 1999. At Biotrol, sales for the nine months increased by
13.2%. The revenue increase at Biotrol is related to increased market penetration of key products, and the elimination of the negative affects of customer consolidation and the adverse affects of gray market sales of key products. Sales for the nine
months at Challenge increased 4.3%. Sales at Micro Motors increased 18.2% for the nine months ended March 31, 2000 over the nine months ended March 31, 1999, primarily due to increased revenue from private label sales to its endodontic customers. Revenue
at Oregon Micro Systems increased 154.3% for the nine months ended March 31, 2000 compared to the same nine months of the previous year. An increase in demand for semiconductor fabrication equipment contributed to the increase in revenue. Sixty-seven
percent of OMS sales is derived from the semiconductor fabrication equipment industry. </P>
<P ALIGN="JUSTIFY">Gross profits by subsidiary follows:</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=1 WIDTH=617>
<TR><TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
2000</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="CENTER"><BR>
1999</U></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="CENTER">Increase/<BR>
<U>(Decrease)</U></FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Biotrol</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,687,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">2,792,000</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">895,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Challenge</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">546,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">622,000</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">(76,000)</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Micro Motors</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,288,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">1,166,000</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">122,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Oregon Micro Systems</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;4,844,000</U></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP">
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;1,800,000</U></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" COLSPAN=2>
<P ALIGN="RIGHT">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<U><FONT FACE="Arial Narrow"><P ALIGN="RIGHT">&nbsp;3,044,000&nbsp;</U></FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P>$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">10,365,000</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">6,380,000</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP" COLSPAN=2 HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">$</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<FONT FACE="Arial Narrow"><P ALIGN="RIGHT">3,985,000&nbsp;</FONT></TD>
</TR>
<TR><TD WIDTH="45%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=19>
<P ALIGN="RIGHT">========</TD>
<TD WIDTH="4%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="16%" VALIGN="TOP" COLSPAN=2 HEIGHT=19>
<P ALIGN="RIGHT">========</TD>
</TR>
</TABLE>

<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consolidated gross profit dollars from continuing operations for the nine months ended March 31, 2000 increased 62.5% primarily due to an increase in sales. The Company's
consolidated gross profit percentage increased to 54.4% for the nine months ended March 31, 2000 compared to 48.9% for the nine months ended March 31, 1999. Gross profit at Biotrol increased due to higher revenue and increased sales of higher margin
products. Gross profit at Challenge decreased due to product mix. At Micro Motors, the gross profit percentage declined due to higher manufacturing costs. Higher costs were attributed to efforts to decrease the backlog of past due sales orders. Higher
sales of lower margin products also contributed to the lower gross profit at Micro. The backlog of past due orders has been cleared up, and steps have been taken to increase gross profit on low margin products. Gross profit at OMS increased due to higher
sales volume.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses decreased to $7,688,000 for the nine months ended March 31, 2000 compared to $9,406,000 for the nine months ended March 31, 1999. Included in operating expenses for the prior nine months
were unusual charges of $839,000. Operating expense as a percentage of revenue was 40.4% for the nine months ended March 31, 2000 compared to 72.1% for the nine months ended March 31, 1999. The Company implemented cost reductions primarily in the sales
and marketing area that has contributed to lower operating expense. A write-off of $4.8 million in goodwill in the previous year caused the current nine-month's operating expense to be lower by $221,000. </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income from operations for the nine months ended March 31, 2000 was $2,677,000 compared to a (loss) from operations for the nine months ended March 31, 1999 of ($3,027,000), an increase of $5,704,000.
Increased revenue and reduced operating expense were the main reasons for the improvement in income from operations.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense for the nine months ended March 31, 2000 was $808,000 compared to $646,000 for the nine months ended March 31, 1999. The Company lowered its debt during the period, but incurred fees of
$180,000 as consideration for the bank's forbearance agreement not to terminate the credit facility. The bank also increased the Company's borrowing rate by 2% during the quarter ended March 31, 2000. </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company's effective tax rate is 40.5% for the nine months ended March 31, 2000, compared to 40% for the prior year's nine-month period. The Company has deductions for goodwill that are not tax
deductible, and are offset by the availability of a research and development credit.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income for the nine months ended March 31, 2000 was $1,116,000 compared to a net (loss) of ($2,180,000) for the same nine months of the previous year.</P>
<B><P ALIGN="JUSTIFY">Liquidity and Capital Resources</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The operations of the Company are conducted primarily through its four wholly owned subsidiaries. The Company's financial position at March 31, 2000 is improving but continues to be weak. Working
capital on that date is approximately negative $2,465,000 compared to negative $4,017,000 at June 30, 1999. The negative working capital situation is caused by the status of the Company's debt with Harris Trust and Savings Bank. The Company had a
$10,000,000 credit facility with Harris. The agreement was amended on July 24, 1999, and a new termination date for the facility was set at December 31, 1999. The Company was unable to payoff the credit facility on the termination date. Consequently the
entire balance owed on the credit facility of $7,300,000 is included in current liabilities, and reduces the Company's working capital accordingly. At March 31, 2000 there continues to be no availability of funds under the credit facility. As of March 31,
2000 the Bank agreed to forbear the terms of the amendment agreement, and extended the termination date until July 31, 2000.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management has engaged an outside investment-banking firm to assist in locating alternative sources of working capital. The Company has received a term sheet from a financial institution expressing an
interest in providing the necessary working capital to payoff the existing credit facility and additional working capital. The term sheet is subject to normal due diligence requirements. The due diligence process has commenced. There can be no guarantee
that management will be successful in obtaining the necessary financing to meet its current and future working capital needs.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company is continuing to work toward completing the merger of Natural White. </P>
<B><P ALIGN="JUSTIFY">Impact of Inflation and Changing Prices</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The industries in which the Company competes are labor intensive, often involving personnel with high level technical or sales skills. Wages and other expenses increase during periods of inflation and
when shortages in the marketplace occur. The Company expects its subsidiaries to face somewhat higher labor costs, as the market for personnel with the skills sought by the Company becomes tighter in a period of full employment. In addition, suppliers
pass along rising costs to the Company's subsidiaries in the form of higher prices. Further, the Company's credit facility with Harris Bank involves increased costs if domestic interest rates rise or there are other adverse changes in the international
interest rates, exchange rates, and/or Eurocredit availability. To some extent, the Company's subsidiaries have been able to offset increases in operating costs by increasing charges, expanding services and implementing cost control measures.
Nevertheless, each of the Company's subsidiaries' ability to increase prices is limited by market conditions, including international competition in many of the Company's markets.</P>
<B><P ALIGN="JUSTIFY">Year 2000 Compliance</P>
</B><P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We experienced no significant issues during the transition to Year 2000. All operations continued without incident as our information technology systems and externally provided utilities functioned
normally. To date, we have not been adversely affected by Year 2000 failures of any customer or vendor. While no material anomalies are expected at this time, we continue to monitor internal and external systems for potential risk. </P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The nature of the foregoing discussion requires the use of forward looking statements that involve assumptions, risks, and uncertainties that could cause outcomes to be substantially different from those projected.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<B><P>PART 11 - OTHER INFORMATION</P>
</B><P>Item 6. Exhibits and Reports on Form 8-K</P>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March 9, 2000, the Registrant filed a Form 8-K announcing the signing of a binding letter of intent to merge with Natural White, Inc. ("Natural White"), a privately-held New York corporation based in Tonawanda, New York.
</P>
<P>&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=631>
<TR><TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2000</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">/s/ Kent E. Searl</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">_______________________________</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Kent E. Searl, Chairman</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">&nbsp;</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP">
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 31, 2000</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">/s/ George J. Isaac</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P ALIGN="JUSTIFY">_______________________________</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="21%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="45%" VALIGN="TOP">
<FONT FACE="Arial Narrow"><P>George J. Isaac, Chief Financial Officer</FONT></TD>
</TR>
</TABLE>

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