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<SEC-DOCUMENT>0000950156-07-000350.txt : 20070523
<SEC-HEADER>0000950156-07-000350.hdr.sgml : 20070523
<ACCEPTANCE-DATETIME>20070523091153
ACCESSION NUMBER:		0000950156-07-000350
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20070522
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070523
DATE AS OF CHANGE:		20070523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ASTRO MED INC /NEW/
		CENTRAL INDEX KEY:			0000008146
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
		IRS NUMBER:				050318215
		STATE OF INCORPORATION:			RI
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13200
		FILM NUMBER:		07872607

	BUSINESS ADDRESS:	
		STREET 1:		600 E GREENWICH AVE
		CITY:			WEST WARWICK
		STATE:			RI
		ZIP:			02893
		BUSINESS PHONE:		4018284000

	MAIL ADDRESS:	
		STREET 1:		600 E GREENWICH AVENUE
		CITY:			WEST WARWICK
		STATE:			RI
		ZIP:			02893

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ATLAN TOL INDUSTRIES INC
		DATE OF NAME CHANGE:	19850220
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d67395-8k.htm
<DESCRIPTION>FORM 8-K FOR MAY 22, 2007
<TEXT>
<HTML>
<BODY LINK="#0000ff" VLINK="#800080">

<TABLE CELLSPACING=0 BORDER=0 cellpadding=0 WIDTH=638>
<TR><TD VALIGN="TOP" COLSPAN=2>
<P><hr noshade color=2></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">WASHINGTON, D.C.  20549</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">FORM 8-K</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">THE SECURITIES EXCHANGE ACT OF 1934</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">DATE OF REPORT</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<FONT SIZE=2><P ALIGN="CENTER">(DATE OF EARLIEST EVENT REPORTED)</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">May 22, 2007</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">ASTRO-MED, INC</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<FONT SIZE=2><P ALIGN="CENTER">(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">COMMISSION FILE NUMBER&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0-13200</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<B><P ALIGN="CENTER">RHODE ISLAND</B></TD>
<TD WIDTH="50%" VALIGN="TOP">
<B><P ALIGN="CENTER">05-0318215</B></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">(STATE  OR OTHER JURISDICTION OF</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">(IRS EMPLOYER IDENTIFICATION</FONT></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">INCORPORATION OR ORGANIZATION)</FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">NUMBER)</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">600 EAST GREENWICH AVENUE, WEST WARWICK, RI 02893</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<FONT SIZE=1><P ALIGN="CENTER">(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P ALIGN="CENTER">(401-828-4000)</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<FONT SIZE=1><P ALIGN="CENTER">(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><P><hr noshade color=2></B></TD>
</TR>
</TABLE>


<P>&lt;PAGE&gt;</P>

<TABLE CELLSPACING=0 BORDER=0 cellpadding=0 WIDTH=638>
<TR><TD VALIGN="TOP" COLSPAN=4>
<B><P>ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="JUSTIFY">On May 22, 2007, Astro-Med, Inc. (the "Company") issued a press release in which it disclosed unaudited financial information related to first quarter consolidated earnings.   A copy of the press release relating to such announcement, dated May 22, 2007, is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<P ALIGN="JUSTIFY">This information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<B><P>ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<B><P>(c)&nbsp;&nbsp;&nbsp;&nbsp;Exhibit</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
<TR><TD WIDTH="17%" VALIGN="TOP" HEIGHT=19>
<B><P>Exhibit no.</B></TD>
<TD WIDTH="83%" VALIGN="TOP" COLSPAN=3 HEIGHT=19>
<B><P>Exhibit</B></TD>
</TR>
<TR><TD WIDTH="17%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="83%" VALIGN="TOP" COLSPAN=3 HEIGHT=19><P></P></TD>
</TR>
<TR><TD WIDTH="17%" VALIGN="TOP" HEIGHT=19>
<P>99.1</TD>
<TD WIDTH="83%" VALIGN="TOP" COLSPAN=3 HEIGHT=19>
<P>Press Release dated May 22, 2007</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4 HEIGHT=19><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4 HEIGHT=19><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4 HEIGHT=19>
<B><P>SIGNATURES</B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4 HEIGHT=19><P></P></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4 HEIGHT=19>
<P ALIGN="JUSTIFY">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4 HEIGHT=19><P></P></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP" COLSPAN=2 HEIGHT=19>
<B><P>DATE: May 22, 2007</B></TD>
<TD WIDTH="50%" VALIGN="TOP" COLSPAN=2 HEIGHT=19>
<B><P>ASTRO-MED, INC.</B></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP" COLSPAN=2 HEIGHT=19><P></P></TD>
<TD WIDTH="50%" VALIGN="TOP" COLSPAN=2 HEIGHT=19><P></P></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP" COLSPAN=2 HEIGHT=19><P></P></TD>
<TD WIDTH="8%" VALIGN="TOP" HEIGHT=19>
<B><P>By:</B></TD>
<TD WIDTH="42%" VALIGN="TOP" HEIGHT=19>
<P>/s/ Joseph P. O'Connell</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP" COLSPAN=2 HEIGHT=19><P></P></TD>
<TD WIDTH="8%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="42%" VALIGN="TOP" HEIGHT=19>
<P><hr noshade color=2></TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP" COLSPAN=2 HEIGHT=19><P></P></TD>
<TD WIDTH="8%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="42%" VALIGN="TOP" HEIGHT=19>
<P>Joseph P. O'Connell</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP" COLSPAN=2 HEIGHT=19><P></P></TD>
<TD WIDTH="8%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="42%" VALIGN="TOP" HEIGHT=19>
<P>Vice President, Treasurer and Chief</TD>
</TR>
<TR><TD WIDTH="50%" VALIGN="TOP" COLSPAN=2 HEIGHT=19><P></P></TD>
<TD WIDTH="8%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="42%" VALIGN="TOP" HEIGHT=19>
<P>Financial Officer</TD>
</TR>
</TABLE>

<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&lt;PAGE&gt;</P>
<P ALIGN="JUSTIFY"></P>
<TABLE CELLSPACING=0 BORDER=0 cellpadding=0 WIDTH=638>
<TR><TD VALIGN="TOP" COLSPAN=2>
<P ALIGN="CENTER">INDEX TO EXHIBITS</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="21%" VALIGN="TOP">
<B><U><P>Exhibit No.</B></U></TD>
<TD WIDTH="79%" VALIGN="TOP">
<B><U><P>Exhibit</B></U></TD>
</TR>
<TR><TD WIDTH="21%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="79%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="21%" VALIGN="TOP">
<P>99.1</TD>
<TD WIDTH="79%" VALIGN="TOP">
<P>Press Release Dated May 22, 2007</TD>
</TR>
</TABLE>


<P>&lt;PAGE&gt;</P></BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>d67395-x99.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<BODY LINK="#0000ff" VLINK="#800080">

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=638>
<TR><TD VALIGN="TOP" COLSPAN=3>
<P ALIGN="RIGHT">Exhibit 99.1</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3 BGCOLOR="#ffffff">
<FONT SIZE=6><P ALIGN="CENTER">PRESS RELEASE</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT SIZE=6><P ALIGN="CENTER"><IMG SRC="astro-logo.gif"></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT FACE="Arial" SIZE=4><P ALIGN="CENTER">600 East Greenwich Avenue</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT FACE="Arial" SIZE=4><P ALIGN="CENTER">West Warwick, Rhode Island 02893</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT SIZE=4><P>For Immediate Release</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP">
<B><FONT SIZE=4><P>Contact:&nbsp;</B></FONT></TD>
<TD WIDTH="50%" VALIGN="TOP">
<B><FONT SIZE=4><P>Albert W. Ondis</B></FONT></TD>
<TD WIDTH="34%" VALIGN="TOP">
<B><FONT SIZE=4><P>May 22, 2007</B></FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="50%" VALIGN="TOP">
<B><FONT SIZE=4><P>Joseph P. O'Connell</B></FONT></TD>
<TD WIDTH="34%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="50%" VALIGN="TOP">
<B><FONT SIZE=4><P>Astro-Med, Inc.</B></FONT></TD>
<TD WIDTH="34%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="50%" VALIGN="TOP">
<B><FONT SIZE=4><P>(401) 828-4000</B></FONT></TD>
<TD WIDTH="34%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT SIZE=5><P ALIGN="CENTER">Astro-Med Reports First Quarter Results;</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT SIZE=5><P ALIGN="CENTER">Directors Declare Regular Cash Dividend</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<P ALIGN="JUSTIFY">West Warwick, RI, May 22, 2007 -- Astro-Med, Inc. (NASDAQ:ALOT) reports net income of $522,000, equal to 7 cents per diluted share, on sales of $16,407,000, for the Fiscal 2008 First Quarter ended May 5, 2007. During the corresponding period of the previous year, the Company reported net income of $543,000, equal to 7 cents per diluted share, on sales of $15,642,000.</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<P ALIGN="JUSTIFY">Commenting on the results, Albert W. Ondis, Chief Executive Officer, stated: "We experienced good all-around growth in the First Quarter, and we are especially pleased with the performance of our QuickLabel Systems brand label printer and consumable products, which posted a 22.7% increase in revenue and a 24% increase in new orders, compared to the First Quarter of the prior year. We are also pleased with the performance of another Astro-Med growth engine, our Astro-Med brand ruggedized products, which include our airborne cockpit printers. Revenue grew more than 17% while new orders grew by almost 50% over the prior year. Revenue from our third growth engine, Grass Technologies-brand sleep study-related products, did not meet our objectives in the quarter but we expect this product group will return to solid growth in the months ahead.</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<P ALIGN="JUSTIFY">In keeping with our strategy of organic growth, the Company's QuickLabel Systems product group introduced an exciting new color label printer shortly after the end of the first quarter. Called the Zeo!, this new digital color label printer, which was developed in concert with Hewlett Packard, brings to the in-house label printing markets a color label printer for under $3,000. The Zeo! joins the Company's distinguished line-up of innovative color label printers and consumables, each targeting a specific market segment. Zeo! shipments will commence in the Second Quarter of Fiscal 2008."</TD>
</TR>
</TABLE>

<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&lt;PAGE&gt;</P>
<P ALIGN="JUSTIFY"></P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=638>
<TR><TD VALIGN="TOP">
<P ALIGN="JUSTIFY">On May 21, 2007, the Directors of Astro-Med declared the regular quarterly cash dividend of 5 cents per share, payable on July 3, 2007 to shareholders of record on June 15, 2007.</TD>
</TR>
<TR><TD VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="JUSTIFY">The First Quarter conference call will be held on Wednesday, May 23, 2007, at 11:00 AM EDT. It will be broadcast in real time on the Internet through our website at www.astro-medinc.com. We invite you to log on and listen in or access the broadcast any time for up to five days following the event. If you would like, you can participate in the conference call by dialing in to 800-867-0448.</TD>
</TR>
<TR><TD VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP">
<P ALIGN="JUSTIFY">Astro-Med, Inc. is a leading manufacturer of high tech specialty printing systems, electronic medical instrumentation, and test and measurement instruments employed around the world in a wide range of industrial, scientific and medical applications.</TD>
</TR>
<TR><TD VALIGN="TOP">&nbsp;</TD>
</TR>
</TABLE>

<FONT SIZE=2></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=638>
<TR><TD VALIGN="TOP" COLSPAN=4>
<B><FONT SIZE=2><P ALIGN="CENTER">ASTRO-MED, INC.</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<B><FONT SIZE=2><P ALIGN="CENTER">Consolidated Condensed Statements of Operations</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<B><FONT SIZE=2><P ALIGN="CENTER">In Thousands Except for Per Share Data</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>
<B><FONT SIZE=2><P ALIGN="CENTER">(Unaudited)</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Three Months</B></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Three Months</B></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Ended</B></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Ended</B></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">May 5, 2007</B></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">April 29, 2006</B></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER"><hr color=2 noshade></B></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER"><hr color=2 noshade></B></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Net Sales</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$16,407</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$15,642</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Gross Profit </FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">6,846</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">6,276</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<I><FONT SIZE=2><P ALIGN="RIGHT">41.7%</I></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<I><FONT SIZE=2><P ALIGN="RIGHT">40.1%</I></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Operating Expenses:</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;Selling, General &amp; Administrative</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">5,127</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">4,511</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;Research &amp; Development</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">1,098</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">1,053</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">6,225</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">5,564</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Operating Income</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">621</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">712</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<I><FONT SIZE=2><P ALIGN="RIGHT">3.8%</I></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<I><FONT SIZE=2><P ALIGN="RIGHT">4.6%</I></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Other, Net</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">249</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">150</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Income Before Taxes</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">870</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">862</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Income Tax Provision</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">348</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"> 319</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Net Income</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Net Income Per Share - Basic</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;0.08</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;0.08</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Net Income Per Share - Diluted</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;0.07</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;0.07</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT"><hr color=2 noshade></FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Weighted Average Number of Common Shares - Basic </FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">6,832</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">6,738</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Weighted Average Number of Common Shares - Diluted</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">7,570</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">7,335</FONT></TD>
</TR>
<TR><TD WIDTH="66%" VALIGN="TOP">
<FONT SIZE=2><P>Dividends Declared Per Common Share</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;0.05</FONT></TD>
<TD WIDTH="4%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="RIGHT">$&nbsp;&nbsp;&nbsp;&nbsp;0.05</FONT></TD>
</TR>
</TABLE>


<P>&lt;PAGE&gt;</P>

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=638>
<TR><TD VALIGN="TOP" COLSPAN=5>
<B><FONT SIZE=2><P ALIGN="CENTER">Selected Balance Sheet Data</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=5>
<B><FONT SIZE=2><P ALIGN="CENTER">In Thousands</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=5>&nbsp;</TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15>
<B><FONT SIZE=2><P ALIGN="CENTER">As of</B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<B><FONT SIZE=2><P ALIGN="CENTER">As of</B></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15>
<B><FONT SIZE=2><P ALIGN="CENTER">May 5, 2007</B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<B><FONT SIZE=2><P ALIGN="CENTER">January 31, 2007</B></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15>
<B><FONT SIZE=2><P ALIGN="CENTER"><hr color=2 noshade></B></FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2 HEIGHT=15>
<B><FONT SIZE=2><P ALIGN="CENTER"><hr color=2 noshade></B></FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="CENTER">(Uaudited)</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2 HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="19%" VALIGN="TOP" COLSPAN=2 HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>Cash &amp; Marketable Securities</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="CENTER">$16,506</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">$16,930 </FONT></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>(2)</FONT></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>Current Assets</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="CENTER">$43,569</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">$44,168</FONT></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>Total Assets</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="CENTER">$57,295</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">$58,001</FONT></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>Current Liabilities (1)</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="CENTER">$&nbsp;&nbsp;8,121</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">$&nbsp;&nbsp;9,874</FONT></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>&nbsp;</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P>Shareholders' Equity (2)</FONT></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="CENTER">$46,964</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15>
<FONT SIZE=2><P ALIGN="RIGHT">$45,958</FONT></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
<TR><TD WIDTH="64%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="15%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="11%" VALIGN="TOP" HEIGHT=15><P></P></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=15><P></P></TD>
</TR>
</TABLE>

<FONT SIZE=2></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=0 WIDTH=638>
<TR><TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=2><P>(1)</FONT></TD>
<TD WIDTH="94%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="JUSTIFY">The Company is evaluating the impact, if any, on its Balance Sheet from the adoption of FASB Interpretation No. 48, "Accounting for Uncertainty in Income Taxes: an interpretation of FASB Statement No. 109" as of February 1, 2007. The Company will reach a final disposition prior to the filing of the Form 10-Q for the quarter ended May 5, 2007.</FONT></TD>
</TR>
<TR><TD WIDTH="6%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="94%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=2><P>(2)</FONT></TD>
<TD WIDTH="94%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="JUSTIFY">Excludes $3,200,000 of cash and marketable securities earmarked for long term investment in real estate.</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<P ALIGN="CENTER">Safe Harbor Statement</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<P ALIGN="JUSTIFY">This news release contains forward-looking statements, and actual results may vary from those expressed or implied herein. Factors that could affect these results include those mentioned in Astro-Med's FY2007 annual report and its annual and quarterly filings with the Securities and Exchange Commission.</TD>
</TR>
</TABLE>


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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
