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<SEC-DOCUMENT>0000910680-09-000500.txt : 20091105
<SEC-HEADER>0000910680-09-000500.hdr.sgml : 20091105
<ACCEPTANCE-DATETIME>20091105105354
ACCESSION NUMBER:		0000910680-09-000500
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20091105
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20091105
DATE AS OF CHANGE:		20091105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIFETIME BRANDS, INC
		CENTRAL INDEX KEY:			0000874396
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				112682486
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1207

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19254
		FILM NUMBER:		091160042

	BUSINESS ADDRESS:	
		STREET 1:		1000 STEWART AVENUE
		CITY:			GARDEN CITY
		STATE:			NY
		ZIP:			11530
		BUSINESS PHONE:		5166836000

	MAIL ADDRESS:	
		STREET 1:		1000 STEWART AVENUE
		STREET 2:		1000 STEWART AVENUE
		CITY:			GARDEN CITY
		STATE:			NY
		ZIP:			11530

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIFETIME HOAN CORP
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k-11052009.htm
<DESCRIPTION>NOVEMBER 5, 2009
<TEXT>
<html>
    <head>
        <title></title>
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    <body style="FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff">
        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2"><b><font size="2">UNITED STATES</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2"><b><font size="2">SECURITIES AND EXCHANGE COMMISSION<br>
        </font></b><b><font size="2">Washington, D.C. 20549</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><font size="2"><b><font size="4">FORM 8-K</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2"><b><font size="2">CURRENT REPORT</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2"><b><font size="2">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2"><font size="2">Date of report</font> <font size="2">(Date of earliest event reported): </font><b><font size="2">November 5, 2009</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2"><b><font size="5">Lifetime Brands, Inc.</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2"><font size="2">(Exact Name of Registrant as Specified in Its Charter)</font></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><font size="2"><b><font size="2">Delaware<br>
        </font></b><font size="2">(State or Other Jurisdiction of Incorporation)</font></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" nowrap colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt" align="center"><b><font size="2">0-19254 </font></b></p>
                    </td>

                    <td valign="top" nowrap width="506">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt" align="center"><b><font size="2">11-2682486</font></b></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" nowrap colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt" align="center"><font size="2">(Commission File Number)</font></p>
                    </td>

                    <td valign="top" nowrap width="506">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt" align="center"><font size="2">(IRS Employer Identification No.)</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <div align="left">
            &nbsp;
        </div>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><font size="2"><b><font size="2">1000 Stewart Avenue, Garden City, New York, 11530</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2"><font size="2">(Address of Principal Executive Offices)(Zip Code)</font></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2"><font size="2">(Registrant&rsquo;s Telephone Number, Including Area Code) </font><b><font size="2">516-683-6000</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 12pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><font size="2"><font size="2">(Former Name or Former Address, if Changed Since Last Report) </font><b><font size="2">N/A</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-INDENT: 0.23in; TEXT-ALIGN: left"><font size="2"><font size="2">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (</font><i><font size="2">see </font></i><font size="2">General Instruction A.2. below):</font></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div align="left">
            <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                <tr>
                    <td valign="top" nowrap width="34">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font face="Wingdings">o</font></p>
                    </td>

                    <td valign="top" nowrap width="921">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font size="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
                        </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" nowrap width="34">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font face="Wingdings">o</font></p>
                    </td>

                    <td valign="top" nowrap width="921">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font size="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
                        </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" nowrap width="34">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font face="Wingdings">o</font></p>
                    </td>

                    <td valign="top" nowrap width="921">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font size="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
                        </font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" nowrap width="34">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font face="Wingdings">o</font></p>
                    </td>

                    <td valign="top" nowrap width="921">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 116.64%; TEXT-ALIGN: left"><font size="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2"><b><font size="2">Item 2.02. Results of Operation and Financial Condition.</font></b></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify"><font size="2"><font size="2">On November 5, 2009, Lifetime Brands, Inc. (the &ldquo;Company&rdquo;) issued a press release announcing the Company&rsquo;s results for the three months ended September 30, 2009. A copy of the Company&rsquo;s press release is attached as Exhibit 99.1. </font></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2"><font size="2">The press release attached as Exhibit 99.1 contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of a company&rsquo;s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded
        or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles. To supplement the Company&rsquo;s results of operations presented in accordance with GAAP, the Company is presenting non-GAAP information regarding income (loss) before interest, taxes, depreciation, amortization, restructuring expenses and stock option expense. </font></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2"><font size="2">These non-GAAP measures are provided to enhance the user&rsquo;s overall understanding of the Company&rsquo;s current financial performance. Specifically, the Company believes the non-GAAP results provide useful information to both management and investors by excluding certain items that may not be indicative of the Company&rsquo;s core operating results. These measures should be considered
        in addition to results prepared in accordance with GAAP, but are not a substitute for or superior to GAAP results. The non-GAAP measures included in the attached press release have been reconciled to the equivalent GAAP measure.</font></font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: justify"><font size="2"><b><font size="2">Item 9.01.&nbsp;&nbsp; Financial Statements and Exhibits.</font></b></font></p>

        <div align="left">
            &nbsp;
        </div>

        <div align="left">
            <div align="left">
                &nbsp;
            </div>

            <div align="left">
                <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0">
                    <tr>
                        <td valign="top" width="16">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                        </td>

                        <td valign="top" width="32"><font size="2">(d)</font></td>

                        <td valign="top" width="48">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">Exhibits</font></p>
                        </td>

                        <td valign="top">
                            <p><br>
                            &nbsp;</p>
                        </td>
                    </tr>

                    <tr>
                        <td valign="top" width="48" colspan="2">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                        </td>

                        <td valign="top" width="48">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">99.1 </font></p>
                        </td>

                        <td valign="top">
                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><a href="ex99-1_f8k11052009.htm"><font size="2">Press release dated November 5, 2009.</font></a></p>


                            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&nbsp;</p>
                        </td>
                    </tr>
                </table>
            </div>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 1.12in; TEXT-INDENT: -1.12in; TEXT-ALIGN: left">&nbsp;</p>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">Signature</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

        <table style="BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="90%" border="0">
            <tr>
                <td valign="top" nowrap width="50%">
                </td>

                <td valign="top" nowrap colspan="4">
                    <p><font size="2">Lifetime Brands, Inc.</font></p>

                    <p>&nbsp;</p>
                </td>
            </tr>

            <tr>
                <td valign="top" nowrap width="50%">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 97.2%; TEXT-ALIGN: justify">&nbsp;</p>
                </td>

                <td valign="top" nowrap width="28">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 97.2%; TEXT-ALIGN: justify"><font size="2">By:</font></p>
                </td>

                <td style="BORDER-BOTTOM: black 1px solid" valign="middle" nowrap width="262" colspan="1">
                    <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 97.2%; TEXT-ALIGN: justify"><font size="2"><font size="2">/s/ Laurence Winoker</font></font></p>
                </td>

                <td width="151">
                </td>

                <td>
                </td>
            </tr>

            <tr>
                <td valign="top" nowrap width="50%">
                </td>

                <td valign="top" nowrap width="28">
                </td>

                <td valign="middle" nowrap width="262" colspan="1"><font size="2">Laurence Winoker</font></td>

                <td width="151">
                </td>

                <td>
                </td>
            </tr>

            <tr>
                <td valign="top" nowrap width="50%">
                </td>

                <td valign="top" nowrap width="28">
                </td>

                <td valign="middle" nowrap width="262" colspan="1"><font size="2">Senior Vice President &ndash; Finance, Treasurer<br>
                and Chief Financial Officer</font></td>

                <td width="151">
                </td>

                <td>
                </td>
            </tr>
        </table>
        <font size="2"><font size="2"><br>
        </font></font><br>
        <br>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"><font size="2">Date: November 5, 2009</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
    </body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99-1_f8k11052009.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
    <head>
        <title></title>
    </head>

    <body style="FONT-FAMILY: 'Times New Roman'" bgcolor="#ffffff">
        <div title="EE+ Page Header">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: right"><b><font size="2">Exhibit 99.1</font></b></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left"><img src="img1.jpg"><br>
        </p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: center"><b><font size="2">LIFETIME BRANDS REPORTS EPS OF $0.40 FOR THIRD QUARTER OF 2009</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><b><font size="2">Garden City, NY,</font></b> <font size="2">November 5, 2009 -- Lifetime Brands, Inc. (NASDAQ: LCUT), North America's leading resource for nationally branded kitchenware, tabletop and home d&eacute;cor products, today announced its results for the three months ended September 30, 2009.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">Net income for the quarter was $4.9 million, as compared to a net loss of $1.1 million in the same period last year. Diluted income per common share was $0.40, as compared to a loss of $0.09 per common share in the 2008 quarter. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">Adjusted EBITDA, a non-GAAP measure, which the Company defines as net income (loss) before interest, taxes, depreciation, amortization, restructuring expenses and stock option expense, as shown in the table below, was $12.3 million for the 2009 quarter, as compared to $11.5 million in the 2008 period. For the nine months ended September 30, 2009, Adjusted EBITDA was $17.9 million, as
        compared to $6.4 million in 2008.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">Net sales for the quarter were $111.4 million, as compared to $140.6 million in 2008. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">Net wholesale sales were $106.3 million, a decrease of $18.0 million, as compared to net wholesale sales of $124.3 million in 2008. Approximately one-half of the decrease reflects, in the 2009 quarter, the absence of sales to Linens &lsquo;N Things, the non-recurrence of sales of excess inventory in connection with our June 2008 purchase of Mikasa and the discontinuance of certain
        low-margin sales to a direct response retailer. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">Net sales for the Company's Direct to Consumer business during the quarter were $5.1 million, consisting only of net sales from its e-commerce websites and mail order catalogs. Direct to Consumer sales in the corresponding 2008 quarter were $6.5 million, excluding $9.9 million in net sales from the Company&rsquo;s retail outlet stores that were closed in 2008. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">Jeffrey Siegel, Chairman, Chief Executive Officer and President, commented, "I am pleased to report that Lifetime's strong market position, driven by its premier brands and its commitment to innovation, enabled the Company to perform well notwithstanding the weak economy. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">&ldquo;Throughout the year, retailers sharply trimmed inventories, which now are the lowest in memory. This has had a negative effect on sales, as inventory replenishment generally was at rates below those of retail sell-throughs. While it appears that the sell-down of retail inventories has now run its course, I believe retailers will continue carefully to manage their inventories in
        a conservative manner for the foreseeable future.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">&ldquo;Despite these challenges, Lifetime achieved new placements in all categories and significantly increased its market share in several product areas, including dinnerware, picture frames and its newest category, water bottles and thermal coffee mugs. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">&ldquo;Grupo Vasconia SAB posted a strong quarter. Net sales and net income, in Mexican Pesos, were up more than 30% and 118%, respectively. These gains were driven by strong increases in sales of kitchen and tabletop products across all distribution channels. Sales of aluminum blanks and other commodity products produced by its mill operations decreased, reflecting both lower demand
        and lower world aluminum prices. For the quarter, Lifetime&rsquo;s equity in Grupo Vasconia&rsquo;s earnings, net of taxes, increased to $727 thousand, as compared to $390 thousand in 2008, notwithstanding a weaker Mexican Peso in the 2009 period.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

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            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">&ldquo;Reflecting the success of our ongoing restructuring activities, Selling, General and Administrative Expense (&ldquo;SG&amp;A&rdquo;) decreased by $9.4 million, a reduction of 28.9%, as compared to the same quarter in 2008. As a percentage of net sales, SG&amp;A was 20.7%, as compared to 23.1% for the same period last year. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">&ldquo;The initiative to reduce and rationalize inventory levels, which began in 2007, continued to produce the desired results. Inventory at September 30, 2009 was $126.5 million, as compared to $141.6 million at December 31, 2008, a decrease of 10.7%, and $170.6 million at September 30, 2008, a decrease of 25.8%. This initiative is ongoing and I expect to see continuing progress in
        the fourth quarter and throughout 2010.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">&ldquo;Lower inventory levels, combined with improved operating results, enabled the Company to reduce its bank borrowings, which, at September 30, 2009, were $65.3 million, a reduction of $52.8 million, as compared to September 30, 2008, and of $26.1 million, as compared to December 31, 2008.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">&ldquo;Despite some recent positive economic news, the retail environment remains challenging, especially as retailers continue to trim their selections and focus on maintaining leaner inventory levels. On the other hand, I believe these conditions will benefit those suppliers that quickly can adapt to new circumstances and can provide retailers with innovative new products at those
        price points at which consumers are most comfortable. Consequently, I believe Lifetime is well positioned for the Holiday Season and for 2010.&rdquo;</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><b><font size="2">Third-Quarter 2009 Conference Call</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">Lifetime has scheduled a conference call for Thursday, November 5, 2009 at 11:00 a.m. ET to discuss its third-quarter 2009 results. The dial-in number for the call is 706-679-7464; the conference ID # is 37259599. A live webcast of the call will be broadcast at the Company&rsquo;s web site, </font><u><font size="2">www.lifetimebrands.com</font></u><font size="2">.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">A replay of the call will also be available through November 12, 2009 and can be accessed by dialing 706-645-9291, conference ID #37259599. For those who cannot listen to the live broadcast, an audio replay of the call will also be available on the site. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><b><font size="2">Non-GAAP Financial Measures</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">This earnings release contains non-GAAP financial measures. For purposes of Regulation G, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure
        calculated and presented in accordance with GAAP in the statements of income, balance sheets, or statements of cash flows of the Company; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. Pursuant to the requirements of Regulation G, the Company has provided reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial
        measures. These non-GAAP measures are provided because management of the Company uses these financial measures in maintaining and evaluating the Company's on-going financial results and trends. Management uses this non-GAAP information as an indicator of business performance.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><b><font size="2">Forward-Looking Statements </font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">In this press release, the use of the words &ldquo;believe,&rdquo; "could," "expect," "may," "positioned," "project," "projected," "should," "will," "would" or similar expressions is intended to identify forward-looking statements that represent the Company&rsquo;s current judgment about possible future events. The Company believes these judgments are reasonable, but these statements
        are not guarantees of any events or financial results, and actual results may differ materially due to a variety of important factors. Such factors might include, among others, the Company&rsquo;s ability to comply with the requirements of its credit agreement; the availability of funding under that credit agreement; the Company&rsquo;s ability to maintain adequate liquidity and financing sources and an appropriate level of debt; changes in general economic conditions which could affect
        customer payment practices or consumer spending; the impact of changes in general economic </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify">&nbsp;</p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="right"><a name="PAGENUM"><font size="2">2</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"></p>
        </div>

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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">conditions on the Company&rsquo;s customers; changes in demand for the Company&rsquo;s products; shortages of and price volatility for certain commodities; significant changes in the competitive environment and the effect of competition on the Company&rsquo;s markets, including on the Company&rsquo;s pricing policies, financing sources and an appropriate level of debt.</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><b><font size="2">Lifetime Brands, Inc. </font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><font size="2">Lifetime Brands is North America&rsquo;s leading resource for nationally branded kitchenware, tabletop and home d&eacute;cor products. The Company markets its products under many of the industry&rsquo;s best known brands, including Farberware&reg;, KitchenAid&reg;, Pfaltzgraff&reg;, Mikasa&reg;, Cuisinart&reg;, Calvin Klein&reg;, CasaModa&reg;, Gorham&reg;, Hoffritz&reg;,
        International&reg; Silver, Kirk Stieff&reg;, Nautica&reg;, Pedrini&reg;, Roshco&reg;, Sabatier&reg;, Sasaki&reg;, Towle&reg; Silversmiths, Tuttle&reg;, Wallace&reg; and Vasconia&reg;. Lifetime&rsquo;s products are distributed through most major retailers in North America. </font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: justify"><b><font size="2">Contacts:</font></b></p>

        <div align="left">
            <table style="MARGIN-LEFT: 0.25in; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="98%" border="0">
                <tr>
                    <td valign="top" width="475">
                        <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2">Lifetime Brands, Inc. </font></p>
                    </td>

                    <td valign="top" width="461">
                        <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font size="2">Lippert/Heilshorn &amp; Assoc.</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="475">
                        <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><font size="2">Laurence Winoker, Chief Financial Officer </font></p>
                    </td>

                    <td valign="top" width="461">
                        <p style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align="right"><font size="2">Harriet Fried, Vice President</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="475">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><font size="2">516-203-3590 </font></p>
                    </td>

                    <td valign="top" width="461">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">212-838-3777</font></p>
                    </td>
                </tr>

                <tr>
                    <td valign="top" width="475">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><u><font size="2">investor.relations@lifetimebrands.com</font></u></p>
                    </td>

                    <td valign="top" width="461">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><u><font size="2">hfried@lhai.com</font></u></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: left"></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.25in; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="right"><a name="PAGENUM"><font size="2">3</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="center"><b><font size="2">LIFETIME BRANDS, INC.</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="2">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(In thousands, except per share data)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(unaudited)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <div align="left">
            <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" border="0">
                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="366">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 30.6pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" colspan="8">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">Three Months Ended</font></b></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">September 30,</font></b></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" colspan="8">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">Nine Months Ended</font></b></p>

                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">September 30,</font></b></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="366">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 30.6pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">2009</font></b></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">2008</font></b></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">2009</font></b></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" colspan="2">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">2008</font></b></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Net sales</font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">111,422</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">140,624</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">286,970</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">331,217</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Cost of sales</font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">69,778</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">86,096</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">181,032</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">200,989</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Distribution expenses</font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">10,313</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">14,104</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">30,863</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">40,260</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Selling, general and administrative expenses</font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">23,061</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">32,464</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">68,583</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">94,750</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Restructuring expenses</font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="left" width="16">&nbsp;</td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="right" width="50">
                        <p><font size="2">671</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 1pt" valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="left" width="16">&nbsp;</td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="right" width="50">
                        <p><font size="2">4,595</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 1pt" valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="left" width="16">&nbsp;</td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="right" width="50">
                        <p><font size="2">832</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 1pt" valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="left" width="16">&nbsp;</td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="right" width="50">
                        <p><font size="2">7,582</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 1pt" valign="bottom" align="left" width="16">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Income (loss) from operations</font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">7,599</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">3,365</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">5,660</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(12,364</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Interest expense </font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(3,294</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(2,870</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(9,061</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(8,206</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 1pt solid" valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 1pt solid" valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 1pt solid" valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 1pt solid" valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 1pt solid" valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 1pt solid" valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 1pt solid" valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-TOP: black 1pt solid" valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p><font size="2">Income (loss) before income taxes and equity in <br>
                        &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; earnings of Grupo Vasconia, S.A.B.</font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">4,305</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">495</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(3,401</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(20,570</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Income tax benefit (provision)</font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(153</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(1,936</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">(569</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p><font size="2">8,256</font></p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="MARGIN-LEFT: 46.75pt; TEXT-INDENT: -46.75pt; TEXT-ALIGN: left"><font size="2">Equity in earnings of Grupo Vasconia, S.A.B., net of taxes</font></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="left" width="16">&nbsp;</td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="right" width="50">
                        <p><font size="2">727</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 1pt" valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="left" width="16">&nbsp;</td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="right" width="50">
                        <p><font size="2">390</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 1pt" valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="left" width="16">&nbsp;</td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="right" width="50">
                        <p><font size="2">1,637</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 1pt" valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="left" width="16">&nbsp;</td>

                    <td style="BORDER-BOTTOM: black 1pt solid" valign="bottom" align="right" width="50">
                        <p><font size="2">1,354</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 1pt" valign="bottom" align="left" width="16">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="top" width="366">
                        <p style="TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">NET INCOME (LOSS)</font></b></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">4,879 </font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">(1,051</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16"><font size="2">)</font></td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">(2,333 </font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16"><font size="2">)</font></td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">(10,960</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16">
                        <p><font size="2">)</font></p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="bottom" width="366">
                        <p style="MARGIN-LEFT: 30.6pt; TEXT-INDENT: -0.25in; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="bottom" width="366">
                        <p style="TEXT-ALIGN: left"><b><font size="2">BASIC INCOME (LOSS) PER COMMON SHARE </font></b></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">0.41</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">(0.09</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16"><font size="2">)</font></td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">(0.19</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16"><font size="2">)</font></td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">(0.92</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16"><font size="2">)</font></td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt" valign="bottom" width="366">
                        <p style="TEXT-ALIGN: left"><b><font size="2">DILUTED INCOME (LOSS) PER COMMON SHARE </font></b></p>
                    </td>

                    <td valign="bottom" align="left" width="11">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="17">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">0.40</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16">
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">(0.09</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16"><font size="2">)</font></td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">(0.19</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16"><font size="2">)</font></td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="right" width="50">
                        <p>&nbsp;</p>
                    </td>

                    <td valign="bottom" align="left" width="16">
                        <p>&nbsp;</p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="left" width="16">
                        <p><font size="2">$</font></p>
                    </td>

                    <td style="BORDER-BOTTOM: black 2.25pt double" valign="bottom" align="right" width="50">
                        <p><font size="2">(0.92</font></p>
                    </td>

                    <td style="PADDING-BOTTOM: 2.25pt" valign="bottom" align="left" width="16"><font size="2">)</font></td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="right"><a name="PAGENUM"><font size="2">4</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="2">LIFETIME BRANDS, INC. </font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><b><font size="2">CONDENSED CONSOLIDATED BALANCE SHEETS</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center"><font size="2">(In thousands, except share data)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 3pt; TEXT-ALIGN: center">&nbsp;</p>

        <div align="left">
            <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="90%" align="center" border="0">
                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">September 30,</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">December 31,</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">2009</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">2008</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">(unaudited)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">ASSETS</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">CURRENT ASSETS</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Cash and cash equivalents</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 899 </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 20.25pt" align="right"><font size="2">$&nbsp;&nbsp;&nbsp;&nbsp; 3,478</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 13.5pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Accounts receivable, less allowances of $11,371 at 2009 and $14,651 at 2008</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">71,915</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">67,562</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Inventory</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">126,455</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">141,612</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Income taxes receivable </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">226</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">11,597</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Prepaid expenses and other current assets </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">8,203</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">8,429</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0in; TEXT-INDENT: 25.5pt; TEXT-ALIGN: left"><font size="2">TOTAL CURRENT ASSETS</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">207,698</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">232,678</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="35">
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">&nbsp;</td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">PROPERTY AND EQUIPMENT, net</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">45,065</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">49,908</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">INTANGIBLES, net </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">37,824</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">38,420</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.1pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">INVESTMENT IN GRUPO VASCONIA, S.A.B. </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">19,231</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">17,784</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.1pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">OTHER ASSETS</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">3,565</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">2,991</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 55.5pt; TEXT-ALIGN: left"><b><font size="2">TOTAL ASSETS</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double" valign="bottom" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">$313,383</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="51">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double" valign="bottom" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">$341,781</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><b><font size="2">LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">CURRENT LIABILITIES</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Bank borrowings </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">$&nbsp; 62,863 </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 20.25pt" align="right"><font size="2">$&nbsp; 89,300 </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Accounts payable</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">27,819</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">24,151</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Accrued expenses</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">28,571</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">36,530</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Deferred income tax liabilities </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">436</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">&#8213; </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0.2in; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Income taxes payable </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">127</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">&#8213; </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0.45in; TEXT-INDENT: -5.05pt; TEXT-ALIGN: left"><font size="2">TOTAL CURRENT LIABILITIES</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">119,816</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 6pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">149,981 </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">&nbsp;</td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="92">
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">DEFERRED RENT &amp; OTHER LONG-TERM LIABILITIES</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">23,259</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">23,054</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">DEFERRED INCOME TAXES </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">3,841</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">3,373</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">CONVERTIBLE NOTES </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">69,840</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">67,864</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">STOCKHOLDERS&rsquo; EQUITY</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 27pt; TEXT-INDENT: -13.5pt; TEXT-ALIGN: left"><font size="2">Common stock, $0.01 par value, shares authorized: 25,000,000; shares issued <br>
                        and outstanding: 12,023,059 in 2009 and 11,989,724 in 2008</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">120</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0.9pt; TEXT-ALIGN: right"><font size="2">120 </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 13.5pt; TEXT-INDENT: -1.5pt; TEXT-ALIGN: left"><font size="2">Paid-in capital</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">128,983</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">127,497</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0in; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 13.5pt; TEXT-INDENT: -0.75pt; TEXT-ALIGN: left"><font size="2">Accumulated deficit</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 33.75pt" align="right"><font size="2">(23,850)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 28.5pt" align="right"><font size="2">(21,515)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 0in; TEXT-INDENT: 11.25pt; TEXT-ALIGN: left"><font size="2">Accumulated other comprehensive loss </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 36.75pt" align="right"><font size="2">(8,626)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 33.75pt" align="right"><font size="2">(8,593)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid" height="18">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 3pt; MARGIN-LEFT: 27.35pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">TOTAL STOCKHOLDERS&rsquo; EQUITY</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="bottom" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">96,627</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="51">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid" valign="bottom" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">97,509</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="35">
                    </td>
                </tr>

                <tr style="page-break-inside: avoid">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 55.5pt; TEXT-ALIGN: left"><b><font size="2">TOTAL LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double" valign="bottom" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">$313,383</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="51">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double" valign="bottom" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right"><font size="2">$341,781</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="bottom" width="35">
                    </td>
                </tr>

                <tr>
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="586">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="96">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="51">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="92">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" valign="top" width="35">
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="right"><a name="PAGENUM"><font size="2">5</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
        </div>

        <div title="EE+ Page Break" style="FONT-SIZE: 1pt; PAGE-BREAK-AFTER: always; WIDTH: 100%; HEIGHT: 1px">
            <hr align="center" width="100%" noshade size="2">
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="2">LIFETIME BRANDS, INC.</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="2">Supplemental Information</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><b><font size="2">Reconciliation of GAAP to Non-GAAP Operating Results</font></b></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(In thousands)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center"><font size="2">(unaudited)</font></p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: center">&nbsp;</p>

        <div align="left">
            <table style="MARGIN-LEFT: 0pt; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="90%" align="center" border="0">
                <tr style="HEIGHT: 15pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 9.75pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15pt" valign="top" colspan="3">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">Three Months Ended <br>
                        September 30,</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15pt" valign="top" colspan="3">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">Nine Months Ended <br>
                        September 30,</font></b></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 15pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15pt" valign="bottom" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15pt" valign="bottom" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2008</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15pt" valign="bottom" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2009</font></b></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0in; MARGIN-LEFT: 0in; TEXT-INDENT: 0pt; TEXT-ALIGN: center">&nbsp;</p>
                    </td>

                    <td style="BORDER-RIGHT: medium none; PADDING-RIGHT: 5.4pt; BORDER-TOP: black 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: medium none; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 15pt" valign="bottom" nowrap width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><b><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2008</font></b></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 15pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" colspan="7">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: center"><font size="2">(in thousands)</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 15pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Net income (loss) reported</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" align="right" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 3pt"><font size="2">$4,879</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" align="right" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 9pt"><font size="2">$(1,051)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 6pt"><font size="2">$(2,333)</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" nowrap align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">$(10,960)</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 15pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 4.35pt; TEXT-ALIGN: left"><font size="2">Add back:</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" align="right" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" align="right" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" nowrap align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt">&nbsp;</p>
                    </td>
                </tr>

                <tr style="HEIGHT: 14.25pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 13.35pt; TEXT-ALIGN: left"><font size="2">Provision (benefit) for income taxes</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">153</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 17.25pt"><font size="2">1,936</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">569</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 12pt"><font size="2">(8,256)</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 14.25pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 13.35pt; TEXT-ALIGN: left"><font size="2">Interest expense </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">3,294</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">2,870</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">9,061</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">8,206</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 14.25pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 13.35pt; TEXT-ALIGN: left"><font size="2">Depreciation and amortization</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">2,445</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">2,512</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">7,532</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">7,843</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 14.25pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 13.35pt; TEXT-ALIGN: left"><font size="2">Amortization of bank fees</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 6pt"><font size="2">325</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">45</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">726</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">110</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 14.25pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 13.35pt; TEXT-ALIGN: left"><font size="2">Restructuring expenses</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 22.5pt"><font size="2">671</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">4,595</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 25.5pt"><font size="2">832</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">7,582</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 14.25pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 13.35pt; TEXT-ALIGN: left"><font size="2">Stock option expense</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 14.25pt" valign="bottom" align="right" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">547</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 14.25pt" valign="bottom" align="right" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">615</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 14.25pt" valign="bottom" align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">1,488</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 14.25pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 1pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 1pt solid; HEIGHT: 14.25pt" valign="bottom" nowrap align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">1,843</font></p>
                    </td>
                </tr>

                <tr style="HEIGHT: 15pt">
                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" nowrap width="361">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: left"><font size="2">Adjusted EBITDA </font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="top" width="16">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double; HEIGHT: 15pt" valign="bottom" align="right" width="64">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">$12,314</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double; HEIGHT: 15pt" valign="bottom" align="right" width="73">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 6pt"><font size="2">$11,522</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double; HEIGHT: 15pt" valign="bottom" align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">$ 17,875</font></p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; HEIGHT: 15pt" valign="bottom" width="16">
                        <p style="MARGIN-TOP: 1.5pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; TEXT-ALIGN: right">&nbsp;</p>
                    </td>

                    <td style="PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: black 2.25pt double; HEIGHT: 15pt" valign="bottom" nowrap align="right" width="68">
                        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt"><font size="2">$ 6,368 </font></p>
                    </td>
                </tr>
            </table>
        </div>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

        <div title="EE+ Page Footer">
            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt" align="right"><a name="PAGENUM"><font size="2">6</font></a></p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>

            <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left"></p>
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        <p style="MARGIN-TOP: 0pt; MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left">&nbsp;</p>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
