<SEC-DOCUMENT>0001047469-12-002345.txt : 20120309
<SEC-HEADER>0001047469-12-002345.hdr.sgml : 20120309
<ACCEPTANCE-DATETIME>20120309105953
ACCESSION NUMBER:		0001047469-12-002345
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20111231
FILED AS OF DATE:		20120309
DATE AS OF CHANGE:		20120309

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORTECH SYSTEMS INC
		CENTRAL INDEX KEY:			0000722313
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS, NEC [3679]
		IRS NUMBER:				411681094
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-13257
		FILM NUMBER:		12679366

	BUSINESS ADDRESS:	
		STREET 1:		1120 WAYZATA BLVD EAST
		STREET 2:		SUITE 201
		CITY:			WAYZATA
		STATE:			MN
		ZIP:			55391
		BUSINESS PHONE:		9523452277

	MAIL ADDRESS:	
		STREET 1:		1120 WAYZATA BLVD EAST
		CITY:			WAYZATA
		STATE:			MN
		ZIP:			55391

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DSC NORTECH INC
		DATE OF NAME CHANGE:	19901217

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DIGIGRAPHIC SYSTEMS CORP
		DATE OF NAME CHANGE:	19881113
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<DESCRIPTION>10-K
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<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><I> <div style="width:100%;border-top:solid #000000 3.0pt;padding:0in 0in 0in 0in;font-size:3.0pt;"></div>
<div style="width:100%;border-top:solid #000000 1.0pt;padding:0in 0in 0in 0in;font-size:4.0pt;"></div>  </I></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=5><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, D. C. 20549  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=5><B>FORM 10-K  </B></FONT></P>
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<TD ALIGN="CENTER" VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2><B>(Mark One)</B></FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=3><FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=3><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=3><B> ANNUAL REPORT PURSUANT TO SECTION&nbsp;13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF&nbsp;1934</B></FONT></TD>
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<TD COLSPAN=3 ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2><B> For the fiscal year ended December&nbsp;31, 2011</B></FONT></TD>
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<TD COLSPAN=3 ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2><B> OR</B></FONT></TD>
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<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=3><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=3><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=3><B> TRANSITION REPORT PURSUANT TO SECTION&nbsp;13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF&nbsp;1934</B></FONT></TD>
</TR>
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<TD COLSPAN=3 ALIGN="CENTER" VALIGN="TOP" style="font-family:arial;"><BR><FONT SIZE=2><B> For the transition period
from&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</B></FONT></TD>
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 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=5><B>NORTECH SYSTEMS INCORPORATED  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>Commission file number&nbsp;0-13257<BR>  </B></FONT><FONT SIZE=2>State of Incorporation: </FONT><FONT SIZE=2><B>Minnesota</B></FONT><FONT SIZE=2><BR>
IRS Employer Identification No.&nbsp;</FONT><FONT SIZE=2><B>41-1681094</B></FONT><FONT SIZE=2><BR>
Executive Offices: </FONT><FONT SIZE=2><B>1120 Wayzata Blvd E., Suite&nbsp;201, Wayzata, MN 55391</B></FONT><FONT SIZE=2><BR>
Telephone number: </FONT><FONT SIZE=2><B>(952)&nbsp;345-2244</B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>Securities registered pursuant to Section&nbsp;12(b) of the Act:</B></FONT></P>
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<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2>Title of each class </FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT SIZE=2>Name of each exchange on which registered </FONT></TH>
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<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2> Common Stock, par value $.01 per share</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>The NASDAQ Stock Market&nbsp;LLC</FONT></TD>
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 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>Securities registered pursuant to Section&nbsp;12(g) of the Act:</B></FONT><FONT SIZE=2><BR>
None </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule&nbsp;405 of the Securities
Act.&nbsp;Yes&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark if the registrant is not required to file reports pursuant to Section&nbsp;13 or 15(d) of the
Act.&nbsp;Yes&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant (1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12&nbsp;months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has been subject to such filing requirements for the past
90&nbsp;days.&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule&nbsp;405 of Regulation&nbsp;S-T (&sect;232.405 of this chapter) during the preceding 12&nbsp;months (or for such shorter period that the
registrant was required to submit and post such files).&nbsp;Yes&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark if disclosure of delinquent filers pursuant to Item&nbsp;405 of Regulation&nbsp;S-K (&sect;229.405 of this chapter)
is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part&nbsp;III of this
Form&nbsp;10-K or any amendment to this Form&nbsp;10-K.&nbsp;Yes&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See definition of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule&nbsp;12b-2 of the Exchange Act. </FONT></P>
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<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Large Accelerated Filer&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Accelerated Filer&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Non-accelerated Filer&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT><BR></FONT> <FONT  style="font-size:8pt;line-height:9pt;">(Do not check if a<BR>
smaller reporting company)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>Smaller Reporting Company <FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
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 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indicate
by check mark whether the registrant is a shell company (as defined in Rule&nbsp;12b-2 of the Exchange
Act).&nbsp;Yes&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT>&nbsp;No&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The aggregate market value of voting stock held by non-affiliates of the registrant, based on the closing price of $3.90 per share, was $4,754,225 on
June&nbsp;30, 2011. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares
of common stock outstanding at February&nbsp;29, 2012: 2,742,992. </FONT></P>

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<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B>DOCUMENTS INCORPORATED BY REFERENCE  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT SIZE=2>Portions of the registrant's Proxy Statement for the 2011 Annual Shareholders' Meeting have been incorporated by
reference into Part&nbsp;III of this Form&nbsp;10-K. The Proxy Statement is expected to be filed with the Securities and Exchange Commission within 120&nbsp;days after
December&nbsp;31, 2011, the end of our fiscal year. </FONT></P>

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<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>2</FONT></P>

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<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

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NAME="BG43901A_main_toc"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="bg43901_nortech_systems_incorporated_a__nor02886"> </A></FONT> <FONT SIZE=2><B><BR>  NORTECH SYSTEMS INCORPORATED    <BR>    <BR>    ANNUAL REPORT ON FORM 10K    <BR>    <BR>    TABLE OF CONTENTS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
<A NAME="BG43901_TOC"></A> </FONT></P>
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<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>PAGE </B></FONT></TH>
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<TD style="font-family:arial;"><A HREF="#da43901_part_i"><p style="font-family:arial;margin-left:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>PART I</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:arial;"><A HREF="#da43901_item_1._business"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;1.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#da43901_item_1._business"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Business</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#da43901_item_1._business"><BR><FONT SIZE=2><BR>
4-7</FONT></A></TD>
</TR>
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<TD style="font-family:arial;"><A HREF="#da43901_item_1a._risk_factors"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;1A.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#da43901_item_1a._risk_factors"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Risk Factors</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#da43901_item_1a._risk_factors"><BR><FONT SIZE=2><BR>
7-9</FONT></A></TD>
</TR>
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<TD style="font-family:arial;"><A HREF="#da43901_item_2._properties"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;2.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#da43901_item_2._properties"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Properties</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#da43901_item_2._properties"><BR><FONT SIZE=2><BR>
9-10</FONT></A></TD>
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<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#da43901_item_3._legal_proceedings"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;3.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#da43901_item_3._legal_proceedings"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Legal Proceedings</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#da43901_item_3._legal_proceedings"><BR><FONT SIZE=2><BR>
10</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#da43901_item_4._mine_safety_disclosures"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;4.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#da43901_item_4._mine_safety_disclosures"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Mine Safety Disclosures</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#da43901_item_4._mine_safety_disclosures"><BR><FONT SIZE=2><BR>
10</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#da43901_part_ii"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>PART II</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#da43901_item_5._market_for_registrant___ite04666"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;5.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#da43901_item_5._market_for_registrant___ite04666"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#da43901_item_5._market_for_registrant___ite04666"><BR><FONT SIZE=2><BR>
10</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#dc43901_item_7._management_s_discussio__ite03668"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;7.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#dc43901_item_7._management_s_discussio__ite03668"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Management's Discussion and Analysis of Financial Condition and Results of Operations</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#dc43901_item_7._management_s_discussio__ite03668"><BR><FONT SIZE=2><BR>
11-14</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#fa43901_item_8._financial_statements_and_supplementary_data"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;8.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#fa43901_item_8._financial_statements_and_supplementary_data"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Consolidated Financial Statements and Supplementary Data</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#fa43901_item_8._financial_statements_and_supplementary_data"><BR><FONT SIZE=2><BR>
15-35</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_item_9._changes_in_and_disagre__ite03576"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;9.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#ga43901_item_9._changes_in_and_disagre__ite03576"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Changes in and Disagreements with Accountants on Accounting and Financial Disclosure</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ga43901_item_9._changes_in_and_disagre__ite03576"><BR><FONT SIZE=2><BR>
37</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_item_9a._controls_and_procedures"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;9A.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#ga43901_item_9a._controls_and_procedures"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Controls and Procedures</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ga43901_item_9a._controls_and_procedures"><BR><FONT SIZE=2><BR>
37</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_item_9b._other_information"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;9B.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#ga43901_item_9b._other_information"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Other Information</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ga43901_item_9b._other_information"><BR><FONT SIZE=2><BR>
37</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_part_iii"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>PART III</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_item_10._directors_and_executi__ite03239"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;10.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#ga43901_item_10._directors_and_executi__ite03239"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Directors, Executive Officers and Corporate Governance</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ga43901_item_10._directors_and_executi__ite03239"><BR><FONT SIZE=2><BR>
38</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_item_11._executive_compensation"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;11.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#ga43901_item_11._executive_compensation"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Executive Compensation</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ga43901_item_11._executive_compensation"><BR><FONT SIZE=2><BR>
38</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_item_12._security_ownership_of__ite02706"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;12.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#ga43901_item_12._security_ownership_of__ite02706"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Security Ownership of Certain Beneficial Owners, Management and Related Stockholder Matters</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ga43901_item_12._security_ownership_of__ite02706"><BR><FONT SIZE=2><BR>
38</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_item_13._certain_relat__ga402108"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;13.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#ga43901_item_13._certain_relat__ga402108"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Certain Relationships and Related Transactions, and Director Independence</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ga43901_item_13._certain_relat__ga402108"><BR><FONT SIZE=2><BR>
39</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_item_14._principal_accountant_fees_and_services"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;14.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#ga43901_item_14._principal_accountant_fees_and_services"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Principal Accountant Fees and Services</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ga43901_item_14._principal_accountant_fees_and_services"><BR><FONT SIZE=2><BR>
39</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_part_iv"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>PART IV</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#ga43901_item_15._exhibits,_consolidate__ite02289"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Item&nbsp;15.</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#ga43901_item_15._exhibits,_consolidate__ite02289"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Exhibits, Consolidated Financial Statement Schedules</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#ga43901_item_15._exhibits,_consolidate__ite02289"><BR><FONT SIZE=2><BR>
39</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#Signatures"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Signatures</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#Signatures"><BR><FONT SIZE=2><BR>
40</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2><BR>
 </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><A HREF="#INDEX"><p align=left style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2><BR>
 </FONT><FONT SIZE=2>Index to Exhibits</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#INDEX"><BR><FONT SIZE=2><BR>
41</FONT></A></TD>
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<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NORTECH SYSTEMS INCORPORATED<BR>
FORM 10-K<BR>
For the Year Ended December&nbsp;31, 2011  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="da43901_part_i"> </A>
<A NAME="toc_da43901_1"> </A></FONT> <FONT SIZE=2><B>  PART I    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="da43901_item_1._business"> </A>
<A NAME="toc_da43901_2"> </A>
ITEM 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BUSINESS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>DESCRIPTION OF BUSINESS  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are a Minnesota corporation organized in December 1990, filing annual reports, quarterly reports, proxy statements, and other documents with the Securities
Exchange Act of 1934 (Exchange Act). The public may read and copy any materials that we file with the SEC at the SEC's Public Reference Room at 340 Fifth Street N.W., Washington, D.C. 20549. Also, the
SEC maintains an Internet website that contains reports, proxy and information statements, and other information regarding issuers, including us, who file electronically with the SEC. The public can
obtain any documents that we file with the SEC at http://www.sec.gov. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>GENERAL  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are an Electronic Manufacturing Service (EMS) contract manufacturing company with our headquarters in Wayzata, Minnesota, a suburb of Minneapolis, Minnesota.
We maintain manufacturing facilities in Minnesota including Bemidji, Blue Earth, Milaca, Mankato, Baxter, and Merrifield; as well as Augusta, Wisconsin and Monterrey, Mexico. We offer a full service
of value-added technical and manufacturing services and support including design, testing, prototyping, and supply chain management. Our manufacturing services include complete medical devices,
printed circuit board assemblies, wire and cable assemblies, and complex higher level electromechanical assemblies. The vast majority of our revenue is derived from products built to the customer's
design specifications. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
breadth of manufacturing and technical expertise and experience make us very attractive to a broad range of customers. Our customers are original equipment manufacturers (OEMs) in
the Aerospace&nbsp;&amp; Defense, Medical and Industrial markets. This diversity of customers and markets is advantageous in avoiding effects of fluctuations in any one industry. We provide technical
support in the design phase with our expertise in design for manufacturing and test to help our customer get to production quickly with the most cost effective and quality design. Our customers rely
on our expertise in manufacturing and supply chain to manage and reduce cost over the life cycle of the product. This requires a strong relationship with our customers that is based on a trusting
partnership as an extension of their operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
believe the EMS industry will experience continued growth as the macro economy improves and customers continue to look to outsource manufacturing, supply chain and engineering
services to focus on their marketing and product development investments. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>ACQUISITIONS  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;4, 2010, we acquired all of the intellectual property and assets, excluding cash and receivables, of Trivirix Corporation, Milaca, MN from Silicon
Valley Bank for cash of $403,000. The fair value of assets acquired included $303,000 in inventories and $100,000 in property and equipment. This operation specializes in design, manufacturing and
post-production services of complex electronic and electromechanical medical devices for diagnostic, analytical and other life-science applications. This acquisition expanded
our capabilities and expertise serving medical electronics manufacturers. The acquisition was accounted for as a business combination and results of operations for Milaca since the date of acquisition
are included in the consolidated financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
January&nbsp;1, 2011, we completed the purchase of certain assets and certain liabilities relating to Winland Electronics,&nbsp;Inc.'s EMS operations (Winland) located in Mankato,
MN. Winland is a designer and manufacturer of custom electronic control products and systems. This purchase provided needed manufacturing capacity, particularly for supporting medical and industrial
customers with printed circuit board assemblies and higher-level builds. The acquisition was accounted for as a business combination and results of operations since the date of acquisition are
included in the consolidated financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
paid $1,042,389 in cash at closing, $212,233 on July&nbsp;1, 2011 and $250,000 on October&nbsp;1, 2011. As provided for in the purchase agreement, our July&nbsp;1, 2011 required
payment of $250,000 was reduced by $37,767 for acquired accounts receivable which were deemed uncollectible in the second quarter and assigned back to Winland. As part of the acquisition we also
agreed to purchase from Winland a minimum of $2,200,000 of inventories to be consumed over a period of 24&nbsp;months. We have exceeded this minimum requirement as of December&nbsp;31, 2011. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>4</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
also agreed to manufacture certain products for Winland's remaining proprietary monitoring devices business unit. For the twelve months ended December&nbsp;31, 2011, sales to
Winland were approximately $2,700,000. We also signed a six year agreement to lease office and manufacturing space at 1950 Excel Drive, Mankato, Minnesota, 56001, and sublease 1,924 square feet back
to Winland through December&nbsp;31, 2011. This sublease is now month to month. Net rent expense under this operating lease for the twelve months ended December&nbsp;31, 2011 was approximately
$253,000 and is included in cost of good sold. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table presents the allocation of the acquisition cost to the assets acquired and liabilities assumed, based on their estimated fair values at the time of the acquisition: </FONT></P>
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<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="78pt" style="font-family:arial;"></TD>
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<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts receivable</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,914,723</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Property, plant and equipment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,451,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts payable assumed</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(1,772,334</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lease payoff</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(259,385</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net assets acquired</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,334,004</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Purchase price</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,542,389</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Bargain purchase gain</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>791,615</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
recognized a $791,615 bargain purchase gain related to the excess fair value over the purchase price for the assets acquired in the first quarter. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>BUSINESS SEGMENT  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of our operations fall under the Contract Manufacturing segment within the Electronic Manufacturing Services (EMS) industry. We strategically direct
production between our various manufacturing facilities based on a number of considerations to best meet our customers' requirements. We share resources for sales, marketing, engineering, supply
chain, information services, cash and risk management, banking, credit and collections, human resources, payroll, internal control, audit, taxes, SEC reporting and corporate accounting. Our financial
information is consolidated and evaluated regularly by the chief decision maker in assessing performance and allocating resources. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>BUSINESS STRATEGY  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The EMS industry has evolved into a dynamic, high tech global electronics contract services industry. We continue to expand our capabilities to better meet these
changing market requirements. Along with offering technical expertise in our quality processes, design applications and testing, we are also increasing our focus on supplier-managed inventory services
and the cost drivers throughout the supply chain. Our Mexico operation and international partnerships allow us to take advantage of lower-cost alternatives for our customers and remain
competitive in the marketplace. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
continue to pursue acquisitions, mergers, and/or joint ventures of companies in the EMS industry to remain competitive, grow our customer base and increase revenues. Our strategic
objectives and our history have been based on both organic and acquired growth. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
quality systems and processes are based on International Standards Organization (ISO) standards with all facilities certified to the latest version of the ISO&nbsp;9001 and/or
Aerospace Systems (AS) 9100 standards. We also have ISO&nbsp;13485 certification which recognizes our quality management systems applicable to contract design, manufacture and repair of assemblies
for the medical industry. Our Milaca operation is an U.S. Food and Drug Administration (FDA) registered facility. We believe these certifications and registrations benefit our customer base and
increase our chances of attracting new business opportunities. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are committed to quality, cost effectiveness and responsiveness to customer requirements. To achieve these objectives we have invested in Restriction of Hazardous Substances
(ROHS/lead free) processing, equipment, plant capacity studies, people, enterprise resource planning (ERP) systems, and lean manufacturing and supply chain management techniques at our facilities. We
are committed to continuous improvement and have invested in training our people to identify and act on improvement opportunities. We maintain a diversified customer base and expand into other
capabilities and services when they fit our core competencies and strategic vision. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>MARKETING  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We concentrate our marketing efforts in the Aerospace and Defense, Medical and Industrial Equipment markets. Our marketing strategy emphasizes the breadth of our
manufacturing, supply chain and engineering services and reflects the complete turnkey solution for meeting our customers' current and future requirements. Our strength is managing low volume, high
mix customer demand. This requires us to have close customer relationships and operational flexibility to manage the variation of product demand. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>5</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
customer emphasis continues to be on mature companies, which require an electronic manufacturing partner with a high degree of manufacturing and quality sophistication, including
statistical process control (SPC), statistical quality control (SQC), ISO, Military Specifications (Mill Spec), AS 9100 and FDA facility registration. We continue efforts to penetrate our existing
customer base and expand market opportunities with participation in industry publications and selected trade shows. We target customers who value proven manufacturing performance, design and
application engineering expertise and who value the flexibility to manage the supply chain of a high mix of products and services. We market our services through our in-house sales force
and independent manufacturers' representatives. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>SOURCES AND AVAILABILITY OF MATERIALS  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We currently purchase the majority of our electronic components directly from electronic component manufacturers and large electronic distributors. On occasion
some of our components may be placed on a stringent allocation basis; however, we are not currently experiencing any major material purchasing or availability problems. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>PATENTS AND LICENSES  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are not presently dependent on a proprietary product requiring licensing, patent, copyright or trademark protection. There are no revenues derived from a
service-related business for which patents, licenses, copyrights and trademark protection are necessary for successful operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>COMPETITION  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The contract manufacturing EMS industry's competitive makeup includes small closely held contract manufacturing companies, large global full-service
contract manufacturers, company-owned in-house manufacturing facilities and foreign contract manufacturers. We do not believe that the small closely held operations pose a significant
competitive threat in the markets and customers we serve, as they generally do not have the complete manufacturing and engineering services or capabilities required by our target customers. We believe
the larger global full service and foreign manufacturers are more focused on higher volume customer engagements and we do not see them as our primary competition. We continue to see opportunities with
OEM companies that have their own in-house electronic manufacturing capabilities as they evaluate their internal costs and investments against outsourcing to contract manufacturers. The
willingness of foreign manufacturers to "stock" finished product at warehouse locations in the United States is another of their competitive advantages, however, their inability to react to
engineering, product or schedule changes is a disadvantage and plays into our strength. To mitigate foreign competition, we operate a manufacturing operation in Mexico and have other sourcing
solutions to support our customers with a "Low Cost" supply chain solution. We do see trends of the low volume, high mix going to regional supply base. For North&nbsp;American manufacturing, this is
a good fit with our US operations and our Mexico low cost solution to serve North&nbsp;America. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>RESEARCH AND DEVELOPMENT  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We perform research and development for customers on an as requested and program basis for development of conceptual engineering and design activities prior to
manufacturing the products. We did not expend significant dollars in 2011 or 2010 on company-sponsored product research and development. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>ENVIRONMENTAL LAW COMPLIANCE  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe that our manufacturing facilities are currently operating under compliance with local, state, and federal environmental laws. We have incurred, and
plan to continue incurring, the necessary expenditures for compliance with applicable laws. Any environmental-oriented equipment is capitalized and depreciated over a seven-year period.
The annualized depreciation expense for this type of environmental equipment is insignificant. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B>EMPLOYEES  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have 710 full-time and 97 part-time/temporary employees as of December&nbsp;31, 2011. Manufacturing personnel, including direct,
indirect support and sales functions, comprise 684 employees, while general administrative employees total 26. At December&nbsp;31, 2010 we had 667 full-time and 42
part-time/temporary employees. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>FOREIGN OPERATIONS AND EXPORT SALES  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have a leased manufacturing facility in Monterrey, Mexico with approximately $273,000 in long-term assets at December&nbsp;31, 2011. Export sales
represented 6% of </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>6</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2>net
sales for the years ended December&nbsp;31, 2011 and 2010. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>FORWARD-LOOKING STATEMENTS  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Annual Report on Form&nbsp;10-K, including "Management's Discussion and Analysis of Financial Condition and Results of Operations" in
Item&nbsp;7, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We may also make forward-looking statements in other reports filed with
the SEC, in materials delivered to stockholders and in press releases. Such statements generally will be accompanied by words such as "anticipate," "believe," "estimate," "expect," "forecast,"
"intend," "possible," "potential," "predict," "project," or other similar words that convey the uncertainty of future events or outcomes. Although we believe these forward-looking statements are
reasonable, they are based upon a number of assumptions concerning future conditions, any or all of which may ultimately prove to be inaccurate. Forward-looking statements involve a number of risks
and uncertainties. Important factors that could cause actual results to differ materially from the forward-looking statements include, without
limitation:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Volatility in the marketplace which may affect market supply and demand of our products; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Increased competition; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Changes in the reliability and efficiency of our operating facilities or those of third parties; </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Risks related to availability of labor; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Increase in certain raw material costs such as copper and oil; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Commodity and Energy cost instability; </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>General economic, financial and business conditions that could affect our financial condition and results of operations </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
factors identified above are believed to be important factors (but not necessarily all of the important factors) that could cause actual results to differ materially from those
expressed in any forward-looking statement made by us. Discussion of these factors is also incorporated in Part&nbsp;I, Item&nbsp;1A, "Risk Factors", and should be considered an integral part of
Part&nbsp;II, Item&nbsp;7, "Management's Discussion and Analysis of Financial Condition and Results of Operations". Unpredictable or unknown factors not discussed herein could also have material
adverse effects on forward-looking statements. All forward-looking statements included in this Form&nbsp;10-K are expressly qualified in their entirety by the forgoing cautionary
statements. We undertake no obligations to update publicly any forward-looking statement (or its associated cautionary language) whether as a result of new information or future events. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="da43901_item_1a._risk_factors"> </A>
<A NAME="toc_da43901_3"> </A>
ITEM 1A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RISK FACTORS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In evaluating our company, careful consideration should be given to the following risk factors, in addition to the other information included in this Annual
Report on Form&nbsp;10-K. Each of these risk factors could adversely affect our business, operating results and/or financial condition, as well as adversely affect the value of an
investment in our common stock. In addition to the following disclosures, please refer to the other information contained in this report, including our consolidated financial statements and the
related notes. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> The economic conditions in the United States and around the world could adversely affect our financial results.  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Demand for our products and services depends upon worldwide economic conditions, including but not limited to overall economic growth
rates, construction, consumer spending, financing availability, employment rates, interest rates, inflation, consumer confidence, defense spending levels, and the profits, capital spending, and
liquidity of industrial companies. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We operate in the highly competitive EMS industry.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We compete against many EMS companies. The larger global competitors have more resources and greater economies of scale. We also
compete with OEM in-house operations that are continually evaluating manufacturing products internally against the advantages of outsourcing. We may also be at a competitive disadvantage
with respect to price when compared to manufacturers with excess capacity, lower cost structures and availability of lower cost labor. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
availability of excess manufacturing capacity of our competitors also creates competitive pressure on price and winning new business. We must continue to provide a quality product,
be responsive and flexible to customers' requirements, and deliver to customers' expectations. Our lack of execution could have an adverse effect on our operations. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>7</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2><B><I> A large percentage of our sales have been made to a small number of customers, and the loss of a major customer, if not replaced, would adversely affect us.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G.E.'s Medical Division accounted for 16% and 19% of net sales for the years ended December&nbsp;31, 2011 and 2010, respectively.
G.E.'s Transportation Division accounted for 7% and 8% of net sales for the years ended December&nbsp;31, 2011 and 2010, respectively. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I> We are dependent on suppliers for electronic components and may experience shortages, extended lead times, cost premiums and shipment delays that would adversely affect our
customers and us.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We purchase raw materials, commodities and components for use in our production. Increased costs of these materials could have an
adverse effect on our production costs if we are unable to pass along price increases or reduce the other cost of goods produced through cost improvement initiatives. Fuel and energy cost increases
could also adversely affect our freight and operating costs. Due to customer specifications and requirements, we are dependent on suppliers to provide critical electronic components and materials for
our operations that could result in shortages of some of the electronic components needed for their production. Component shortages may result in expedited freight, overtime premiums and increased
component costs. In addition to the financial impact on operations from lost revenue and increased cost, there could potentially be harm to our customer relationships. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Our customers cancel orders, change order quantity, timing and specifications that if not managed would have an adverse affect on inventory carrying costs.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We do face, through the normal course of business, customer cancellations and rescheduled orders and are not always successful in
recovering the costs of such cancellations or rescheduling. In addition, excess and obsolete inventory losses as a result of customer order changes, cancellations, product changes and contract
termination could have an adverse effect on our operations. We estimate and reserve for any known or potential impact from these possibilities. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Some shareholders may be able to take actions that do not reflect the will or best interests of other shareholders.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our officers and directors own a majority share of our outstanding common stock and could individually or together exert a significant
degree of influence over our affairs. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> The manufacture and sale of our products carries potential risk for product liability claims.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We represent and warrant the goods and services we deliver are free from defects in material and workmanship for one year from ship
date. We make no other guarantees or warranties, expressed or implied, of any nature whatsoever as to the goods including without limitation, warranties to merchantability, fit for a particular
purpose, non-infringement of patent or the like unless agreed upon in writing. If a product liability claim results in our being liable and the amount is in excess of our insurance
coverage or there is no insurance coverage for the claim then it could have an adverse effect on our business and financial position. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We depend heavily on our people and may from time to time have difficulty attracting and retaining skilled employees.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our operations depend upon the continued contributions of our key management, marketing, technical, financial, accounting, product
development engineers, sales people and operational personnel. We also believe that our continued success will depend upon our ability to attract, retain and develop highly skilled managerial and
technical resources within the highly competitive EMS industry. Not being able to attract or retain these employees could have a material adverse effect on revenues and earnings. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Operating in foreign countries exposes our operations to risks that could adversely affect our operating results.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We operate a manufacturing facility in Mexico. Our operation there is subject to risks that could adversely impact our financial
results, such as economic or political volatility, crime, severe weather, employee turnover, staffing, managing personnel in diverse culture, labor instability, transportation delays, and foreign
currency fluctuations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Non-compliance with environmental laws may result in restrictions and could adversely affect operations.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our operations are regulated under a number of federal, state, and foreign environmental and safety laws and regulations that govern
the discharge of hazardous materials into the air and water, as well as the handling, storage, and disposal of such materials. These laws and regulations include the Clean Air Act; the Clean Water
Act; the Resource Conservation and Recovery Act; and the Comprehensive Environmental Response, Compensation, and Liability Act; as well as analogous state and foreign </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>8</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2>laws.
Compliance with these environmental laws is a major consideration for us due to our manufacturing processes and materials. It is possible we may be subject to potential financial liability for
costs associated with the investigation and remediation at our sites; this may have an adverse effect on operations. We have not incurred significant costs related to compliance with environmental
laws and regulations and we believe that our operations comply with all applicable environmental laws. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental
laws could also become more stringent over time, imposing greater compliance costs and increasing risks and penalties associated with violation. We operate in
environmentally sensitive locations and are subject to potentially conflicting and changing regulatory agendas of political, business, and environmental groups. Changes or restrictions on discharge
limits; emissions levels; or material storage, handling, or disposal might require a high level of unplanned capital investment or relocation. It is possible that environmental compliance costs and
penalties from new or existing regulations may harm our business, financial condition, and results of operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We may be subject to risks associated with our acquisitions, and the risks could adversely affect our operating results.  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our strategy is to grow our business organically and through acquisitions, alliances and joint venture arrangements. We will continue
to pursue and acquire additional businesses in the EMS industry that fit our long-term objectives for growth and profitability. The success of our acquisitions will depend on our ability
to integrate the new operations with the existing operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> If we fail to comply with the covenants contained in our revolving credit facility we may be unable to secure additional financing and repayment obligations on our
outstanding indebtedness may be accelerated.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our revolving credit facility and debt agreements contain financial and operating covenants with which we must comply. As of
December&nbsp;31, 2011, we were in compliance with these covenants. However, our continued compliance with these covenants is dependent on our financial results, which are subject to fluctuation as
described elsewhere in these risk factors. If we fail to comply with the covenants in the future or if our lender does not agree to waive any future non-compliance, we may be unable to
borrow funds and any outstanding indebtedness could become immediately due and payable, which could materially harm our business. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> We are dependent on our management information systems for order, inventory and production management, financial reporting, communications and other functions. If our
information systems fail or experience major interruptions, our business and our financial results could be adversely affected.  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We rely on our management information systems to effectively manage our operational and financial functions. Our computer systems,
Internet web sites, telecommunications, and data networks are also vulnerable to damage or interruption from power loss, natural disasters and attacks from viruses or hackers. These types of system
failures or interruption could adversely affect our business and operating results. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I> Our business may be impacted by natural disasters.  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tornadoes, blizzards and other natural disasters could negatively impact our business and supply chain. In countries that we rely on
for operations and materials, such as Mexico, China and Thailand, potential natural disasters could disrupt our manufacturing operations, reduce demand for our customers' products and increase supply
chain costs. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="da43901_item_2._properties"> </A>
<A NAME="toc_da43901_4"> </A>
ITEM 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PROPERTIES    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>ADMINISTRATION  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Corporate Headquarters consists of approximately 5,000 square feet located in Wayzata, Minnesota, a western suburb of Minneapolis, Minnesota. The Corporate
Headquarters has a lease with a five-year term that expires on July&nbsp;31, 2015. A portion of the Bemidji facility is used for corporate financial and information systems shared
services. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>9</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=6,SEQ=9,EFW="2207776",CP="NORTECH SYSTEMS INCORPORATED",DN="1",CHK=146644,FOLIO='9',FILE='DISK129:[11ZEA1.11ZEA43901]DA43901A.;12',USER='SCAVALI',CD=';8-MAR-2012;08:46' -->
<A NAME="page_da43901_1_10"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>MANUFACTURING FACILITIES  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our manufacturing facilities as described below are in good operating condition and are suitable for our needs. We believe our overall productive capacity is
sufficient to handle our foreseeable manufacturing needs and customer requirements. </FONT></P>
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<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:29pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Location

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 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Own/Lease </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Lease<BR>
End Date </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Square Feet<BR>
Manufacturing Space </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Square Feet<BR>
Office Space </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total<BR>
Square Feet </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Bemidji, MN</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Own</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>56,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>13,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>69,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Blue Earth, MN</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Own</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>92,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>48,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>140,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Merrifield, MN</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Own</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>34,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>12,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>46,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Baxter, MN</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Lease</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Month to Month</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>5,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Milaca, MN</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Lease</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>July&nbsp;31, 2013</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>15,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>5,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>20,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Mankato, MN</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Lease</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>January&nbsp;1, 2017</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>43,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>15,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>58,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Augusta, WI</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Own</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>15,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>5,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>20,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Monterrey, Mexico</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>Lease</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>June&nbsp;30, 2013</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>29,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>30,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
December 2011, we sold a 16,000 square foot building in Fairmont, Minnesota. We still own one building in Fairmont which contains approximately 21,000 square feet and is classified as
held for sale. We did not renew the Garner, IA lease that expired on June&nbsp;30, 2011. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="da43901_item_3._legal_proceedings"> </A>
<A NAME="toc_da43901_5"> </A>
ITEM 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LEGAL PROCEEDINGS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;From time to time, we are involved in ordinary, routine or regulatory legal proceedings incidental to the business. When a loss is deemed probable and reasonably
estimable an amount is recorded in our financial statements. We currently are not a party to any material legal proceeding. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="da43901_item_4._mine_safety_disclosures"> </A>
<A NAME="toc_da43901_6"> </A>
ITEM 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MINE SAFETY DISCLOSURES    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="da43901_part_ii"> </A>
<A NAME="toc_da43901_7"> </A>
<BR></FONT><FONT SIZE=2><B>  PART II    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="da43901_item_5._market_for_registrant___ite04666"> </A>
<A NAME="toc_da43901_8"> </A>
ITEM 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As of February&nbsp;29, 2012, there were 735 shareholders of record. Our stock is listed on the National Association of Securities Dealers Automated Quotation
System ("NASDAQ") Small Cap Market under the symbol "NSYS". We intend to invest our profits into the growth of our operations and, therefore, do not plan to pay out dividends to shareholders in the
foreseeable future. We did not declare or pay a cash dividend in 2011 or 2010. Future dividend policy and payments, if any, will depend upon earnings and our financial condition, our need for funds,
any limitations on payments of dividends present in our current or future debt agreements, and other factors. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock
price comparisons (NASDAQ): </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="39pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="39pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:106pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>During the Three Months Ended

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 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Low </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>High </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>March&nbsp;31, 2011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4.00</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4.92</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>June&nbsp;30, 2011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.51</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4.07</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September&nbsp;30, 2011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.04</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.90</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>December&nbsp;31, 2011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2.51</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.37</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>March&nbsp;31, 2010</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
3.07</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
3.77</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>June&nbsp;30, 2010</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.32</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.99</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>September&nbsp;30, 2010</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.75</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>December&nbsp;31, 2010</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.32</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4.62</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
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 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales
of Unregistered Securities: </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
did not have any unregistered sales of equity securities in 2011. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases
of Equity Securities by the Issuer and Affiliated Purchasers: </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
did not make any purchases of our equity securities in 2011. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B>EQUITY COMPENSATION PLAN INFORMATION  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain information with respect to our equity compensation plans are contained in Part&nbsp;III, Item&nbsp;12 of this Annual Report on
Form&nbsp;10-K. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>10</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="dc43901_item_7._management_s_discussio__ite03668"> </A>
<A NAME="toc_dc43901_1"> </A>
ITEM 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B>OVERVIEW  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are a Wayzata, Minnesota based full-service EMS contract manufacturer of wire and cable assemblies, printed circuit board assemblies, higher-level
assemblies and box builds for a wide range of industries. We serve three major markets within the EMS industry: Aerospace and Defense, Medical, and the Industrial market which includes industrial
equipment, transportation, vision, agriculture, oil and gas. In Minnesota, we have facilities in Baxter, Bemidji, Blue Earth, Mankato, Merrifield, Milaca and Wayzata. We also have facilities in
Augusta, Wisconsin and Monterrey, Mexico. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
vast majority of our revenue is derived from products built to the customer's design specifications and consists of a wide range of simple to highly complex manufacturing processes.
During 2011, we continued our supply chain and lean manufacturing initiatives designed to reduce costs, improve asset utilization and increase responsiveness to customers.
Our initiatives focused on improving quality and on-time delivery as well as improving our manufacturing processes and yields by doing it right the first time. Our goal is to expand and
diversify our customer base by focusing on sales and marketing efforts that fit our value-added service strategy. Our Mexico operation allows for medium volume and mix with lower cost production
alternatives when the opportunities are presented. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
net sales in 2011 were $114.2&nbsp;million, an increase of 14% compared to 2010. Our growth in revenue came from our recent acquisitions, offsetting shortfalls in sales and orders
from our existing industrial customers that are being hit the hardest by the uncertainty in the economy. Our customers are still wary about carrying large amounts of inventory and their ability to
accurately forecast. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
90-day backlog at December&nbsp;31, 2011 was $18.5&nbsp;million with $2.7&nbsp;million included from the Mankato acquisition, compared to $18.5&nbsp;million at
the end of 2010. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
saw our gross profit improve in 2011 as a result of a favorable mix of product and services, along with cost and efficiency initiatives in our manufacturing processes. Gross profit as
a percentage of net sales was 11.7% and 11.4% for the years ended December&nbsp;31, 2011 and 2010, respectively. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income
from operations totaled $1.5&nbsp;million and $1.2&nbsp;million for the years ended December&nbsp;31, 2011 and 2010, respectively. Our net income in 2011 was
$1.2&nbsp;million or $0.43 per diluted common share; $0.7&nbsp;million or $0.24 per diluted common share excluding the bargain purchase gain of $0.5&nbsp;million, net of tax. Net income totaled
$0.5&nbsp;million or $0.18 per diluted common share in 2010. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash
used in operating activities for the year ended December&nbsp;31, 2011 was $0.9&nbsp;million directly related to the working capital requirements needed to support the
acquisition of the Mankato operation. We believe our financing arrangements and anticipated cash flows from operations will be sufficient to satisfy our working capital needs through the foreseeable
future. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>CRITICAL ACCOUNTING POLICIES AND ESTIMATES  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our significant accounting policies and estimates are summarized in the footnotes to our annual consolidated financial statements. Some of the accounting policies
require us to exercise significant judgment in selecting the appropriate assumptions for calculating financial estimates. Such judgments are subject to an inherent degree of uncertainty. These
judgments are based on historical experience, known trends in the industry, terms of existing contracts and other information from outside sources, as appropriate. Actual results may differ from these
estimates under different assumptions and conditions. Certain of the most critical estimates that require significant judgment are as follows: </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Revenue Recognition:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We recognize revenue upon shipment of manufactured products to customers, when title has passed, all contractual obligations have been satisfied and collection of
the resulting receivable is reasonably assured. We also provide engineering services separate from the manufacture of a product. Revenue for engineering services is recognized upon completion of the
engineering process, providing standalone fair value to our customers. Our engineering services are short-term in nature. In addition, we have another separate source of revenue that comes
from short-term repair services, which are recognized upon completion of the repairs, and the repaired products are shipped back to the customer. Shipping and handling costs charged to our
customers are </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>11</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2>included
in net sales, while the corresponding shipping expenses are included in cost of goods sold. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B>Business Combinations:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We account for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification (ASC) Topic&nbsp;805,
"Business Combinations". We recognize amounts for identifiable assets acquired and liabilities assumed equal to their estimated acquisition date fair values. We hired a third party valuation
specialist to determine the value of property and equipment acquired. Transaction and integration costs associated with business combinations are expensed as incurred. Any excess of the acquisition
price over the estimated fair value of net assets acquired is recorded as goodwill while any excess of the estimated fair value of net assets acquired over the acquisition price is recorded in current
earnings as a gain. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Allowance for Uncollectible Accounts:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;When evaluating the adequacy of the allowance for doubtful accounts, we analyze accounts receivable, historical write-offs of bad debts, customer
concentrations, customer credit-worthiness, current economic trends and changes in customer payment terms. We maintain an allowance for doubtful accounts at an amount estimated to be sufficient to
provide adequate protection against losses resulting from collecting less than full payment on outstanding accounts receivable. A considerable amount of judgment is required when assessing the
realizability of accounts receivable, including assessing the probability of collection and the current credit-worthiness of each customer. If the financial condition of our customers was to
deteriorate, resulting in an impairment of their ability to make payments, an additional provision for uncollectible accounts may be required. We have historically not experienced significant bad
debts expense and believe the reserve is adequate for any exposure to loss in the December&nbsp;31, 2011 accounts receivable. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Inventory Reserves:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory reserves are maintained for the estimated value of the inventory that may have a lower value than stated or quantities in excess of future production
needs. We have an evaluation process that is used to assess the value of the inventory that is slow moving, excess or obsolete on a quarterly basis. We evaluate our inventory based on current usage
and the latest forecasts of product demand and production requirements from our customers. We believe the total reserve at December&nbsp;31, 2011 is adequate. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Long-Lived and Intangible Asset Impairment:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We evaluate long-lived assets, primarily property and equipment, and intangible assets with finite lives for impairment, as well as the related
amortization periods, to determine whether adjustments to these amounts or useful lives are required based on current events and circumstances. The evaluation is based on our projection of the
undiscounted future operating cash flows of the underlying assets. To the extent such projections indicate that future undiscounted cash flows are not sufficient to recover the carrying amounts of
related assets, a charge might be required to reduce the carrying amount to equal estimated fair value. We recorded impairment charges in 2011 and 2010 of $53,000 and $56,000, respectively, related to
a building sold on December&nbsp;15, 2011. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Valuation Allowance:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We record valuation allowances against our deferred tax assets when necessary. Realization of deferred tax assets (such as net operating loss carry forwards) is
dependent on future taxable earnings and therefore uncertain. At least quarterly, we assess the likelihood that our deferred tax assets will be recovered from future taxable income. To the extent we
believe that recovery is not likely, we establish a valuation allowance against these assets, thereby increasing income tax expense or decreasing the income tax benefit in the period the determination
is made. As of December&nbsp;31, 2011 we expect to recover our deferred tax assets in their entirety, and thus no valuation allowance was deemed necessary. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
on a critical assessment of our accounting estimates and the underlying judgments and uncertainties of those estimates, we believe that our consolidated financial statements
provide a meaningful and fair presentation of our financial position and results of operations. This is not to suggest that other general risk factors, such as changes in worldwide economic
conditions, fluctuations in foreign currency exchange rates, changes in materials costs, performance of acquired businesses and others, could not adversely impact our consolidated financial position,
results of operations and cash flows in future periods. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
matters have come to our attention since December&nbsp;31, 2011 that would cause the estimates </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>12</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2>included
in the consolidated financial statements to change materially. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>OPERATING RESULTS  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table presents statement of operations data as percentages of net sales for the indicated year: </FONT></P>
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<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="46pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
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<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Sales</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>100.00</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>100.00</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cost of Goods Sold</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>88.30</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>88.60</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Gross Profit</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11.70</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11.40</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Selling Expenses</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
3.20</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
3.10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>General and Administrative Expenses</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7.20</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7.10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income from Operations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1.30</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1.20</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other (Income) Expenses, Net</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
(0.20</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
0.30</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income Tax Expense</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.50</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.40</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Income</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1.00</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0.50</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>%</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B>Net sales:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the years ended December&nbsp;31, 2011 and 2010, we had net sales of $114.2&nbsp;million and $99.8&nbsp;million, respectively, an increase of 14%. Net
sales by our major EMS industry markets for the year ended December&nbsp;31, 2011 and 2010 are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="46pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="31pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Year Ended<BR>
December&nbsp;31 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><I>(in thousands)</I></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011<BR>
$ </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010<BR>
$ </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>%<BR>
Change </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Aerospace and Defense</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,478</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,152</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Medical</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>33,378</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>29,329</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>14</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Industrial</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>64,380</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>54,339</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>18</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Net Sales</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>114,236</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>99,820</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>14</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
sales to our Aerospace and Defense customers are up slightly compared to 2010 levels. Net sales to our Medical and Industrial customers increased by
$4.0&nbsp;million and $10.0&nbsp;million, respectively, primarily due to the acquisition of our Mankato facility which added $3.2&nbsp;million in sales to the Medical market and
$15.7&nbsp;million of sales to the Industrial market. The increase in net sales to the Industrial market resulting from the acquisition, was offset by shortfalls from our existing industrial
customers that are being hit the hardest by the uncertainty in the economy. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Backlog:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our 90&nbsp;day backlog was approximately $18.5&nbsp;million on December&nbsp;31, 2011, including $2.7&nbsp;million related to the January 2011
acquisition, compared to $18.5&nbsp;million at December&nbsp;31, 2010. Our backlog consists of firm purchase orders and we expect a major portion of the current 90&nbsp;day backlog to be
realized as revenue during the following quarter. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="31pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Backlog as of the Year Ended<BR>
December&nbsp;31, </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><B>%</B></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><I>(in thousands)</I></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Change </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Aerospace and Defense</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,855</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4,453</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(13</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Medical</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>5,657</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4,216</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>34</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Industrial</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>9,016</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>9,813</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(8</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Backlog</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>18,528</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>18,482</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
90&nbsp;day backlog varies due to order size, manufacturing delays, contract terms and conditions and timing from customer delivery schedules and releases. These
variables cause inconsistencies in comparing the backlog from one period to the next. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Gross Profit:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For the years ended December&nbsp;31, 2011 and 2010, we had gross profit of $13.3&nbsp;million and $11.4&nbsp;million, respectively. Gross profit as a
percentage of net sales was 11.7% and 11.4% for the years ended December&nbsp;31, 2011 and 2010, respectively. The year over year increase in gross profit as a percentage of net sales was a result
of favorable product mix and cost improvement initiatives. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Selling:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Selling expenses were $3.6&nbsp;million or 3.2% of net sales for the year ended December&nbsp;31, 2011 and $3.1&nbsp;million or 3.1% of net sales for the
year ended December&nbsp;31, 2010. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>General and Administrative:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative expenses were $8.2&nbsp;million or 7.2% of net sales for the year ended December&nbsp;31, 2011 and $7.1&nbsp;million or 7.1% of
net sales for the year ended December&nbsp;31, 2010. The 2011 increase of $1.1&nbsp;million is mainly attributed to additional personnel and related costs incurred as a result of our recent
acquisitions. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Other Income (Expense):  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income for the year ended December&nbsp;31, 2011 was approximately $0.2&nbsp;million, while other expense for the year ended December&nbsp;31, 2010
was approximately $0.3&nbsp;million. Other income in 2011 is primarily due to </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>13</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=13,EFW="2207776",CP="NORTECH SYSTEMS INCORPORATED",DN="1",CHK=676457,FOLIO='13',FILE='DISK129:[11ZEA1.11ZEA43901]DC43901A.;13',USER='DSCHWAR',CD=';7-MAR-2012;19:50' -->
<A NAME="page_dc43901_1_14"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>recognizing
a bargain purchase gain of $0.8&nbsp;million from the acquisition of the Mankato operation in the first quarter of 2011, offset in part by higher interest expense and foreign exchange
transaction losses. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Income Taxes:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense for the years ended December&nbsp;31, 2011 and 2010 was $0.6&nbsp;million and $0.4&nbsp;million, respectively. The effective tax rate for
fiscal 2011 was 32.0% compared to 42.5% in fiscal 2010. The decrease in effective tax rate from 2010 to 2011 relates primarily to the true-up of our net operating loss (NOL) carryback in
2010 which resulted in additional tax expense of approximately $0.1&nbsp;million partially offset by state and federal research credits. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Net Income:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our net income in 2011 was $1.2&nbsp;million or $0.43 per diluted common share; $0.7&nbsp;million or $0.24 per diluted common share excluding the bargain
purchase gain of $0.5&nbsp;million, net of tax. Net income in 2010 was $0.5&nbsp;million or $0.18 per diluted common share. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B>FINANCIAL CONDITION AND LIQUIDITY  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We believe that our existing financing arrangements and anticipated cash flows from operations will be sufficient to satisfy our working capital needs, capital
expenditures, investments, and debt repayments for the foreseeable future. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Credit Facility:  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our credit agreement with Wells Fargo Bank (WFB) provides for a line of credit arrangement of $13.5&nbsp;million, which expires on May&nbsp;31, 2013, if not
renewed. The credit arrangement also has a real estate term note with a maturity date of May&nbsp;31, 2012 and an equipment term loan tied to equipment purchased in the Mankato acquisition. We are
in negotiations to finalize and extend our real estate term note prior to maturity. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
line of credit and other installment debt with WFB contain certain covenants which, among other things, require us to adhere to regular reporting requirements, abide by annual
shareholder dividend limitations, maintain certain financial performance, and limit the amount of annual capital expenditures. The availability under the line is subject to borrowing base
requirements, and advances are at the discretion of the lender. The line is secured by substantially all of our assets. This commitment is summarized as described below: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="77pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="84pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:92pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Other Commercial Commitment

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 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total<BR>
Amount<BR>
Committed </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Outstanding at<BR>
December&nbsp;31, 2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Date of<BR>
Expiration </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Line of credit</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>13,500,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>9,345,044</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>May&nbsp;31, 2013</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
of December&nbsp;31, 2011 we have net unused availability under our line of credit agreement of approximately $3.9&nbsp;million as supported by our borrowing base. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Cash Flow:  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="77pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="77pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>December&nbsp;31 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash flows provided by (used in):</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operating activities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(874,111</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,890,254</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Investing activities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(2,674,211</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,029,599</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Financing activities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,317,740</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,876,092</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Effect of exchange rate changes on cash</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>638</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net decrease in cash</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(230,582</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(14,799</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
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 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
December&nbsp;31, 2011, we had working capital of approximately $12.3&nbsp;million compared to $13.1&nbsp;million at the end of 2010. During 2011, we used
approximately $0.9&nbsp;million of cash in operating activities. The cash used in operations was primarily the result of working capital requirements needed to support the acquired Mankato
operations. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
net cash used in investing activities of $2.7&nbsp;million is due to $1.2&nbsp;million of capital equipment purchases and $1.5&nbsp;million for the Mankato acquisition in
January 2011. Net cash provided by financing activities of $3.3&nbsp;million consisted of a $3.7&nbsp;million increase in the line of credit and $1.4&nbsp;million of additional borrowings,
offset by payments of $1.8&nbsp;million on long-term debt. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>14</FONT></P>

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<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="fa43901_nortech_systems_incorporated_a__nor02927"> </A></FONT> <FONT SIZE=2><B><BR>  NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY    <BR>    <BR>    TABLE OF CONTENTS    <BR>    <BR>    DECEMBER 31, 2011 AND 2010    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="fa43901_item_8._financial_statements_and_supplementary_data"> </A>
ITEM 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
<A NAME="FA43901_TOC"></A> </FONT></P>
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<p style="font-family:arial;"></FONT></P>

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<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>PAGE </B></FONT></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#RIRPAF"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Report of Independent Registered Public Accounting Firm</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#RIRPAF"><FONT SIZE=2>16</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Financial Statements:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#CBS"><p style="font-family:arial;margin-top:12pt;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Balance Sheets as of December&nbsp;31, 2011 and 2010</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#CBS"><FONT SIZE=2><BR>
17</FONT></A></TD>
</TR>
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<TD style="font-family:arial;"><A HREF="#CCSI"><p style="font-family:arial;margin-top:12pt;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Statements of Income for the years ended December&nbsp;31, 2011 and 2010</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#CCSI"><FONT SIZE=2><BR>
19</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#CSSE"><p style="font-family:arial;margin-top:12pt;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Statements of Shareholders' Equity for the years ended December&nbsp;31, 2011 and 2010</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#CSSE"><FONT SIZE=2><BR>
20</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#CSCF"><p style="font-family:arial;margin-top:12pt;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Statements of Cash Flows for the years ended December&nbsp;31, 2011 and 2010</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#CSCF"><FONT SIZE=2><BR>
21</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#NCFS"><p style="font-family:arial;margin-top:12pt;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Notes to Consolidated Financial Statements</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#NCFS"><FONT SIZE=2><BR>
22-34</FONT></A></TD>
</TR>
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<TD style="font-family:arial;"><A HREF="#RIRPASI"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Report of Independent Registered Public Accounting Firm on Supplementary Data</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#RIRPASI"><FONT SIZE=2><BR>
35</FONT></A></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><A HREF="#SVQA"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Schedule&nbsp;II Valuation and Qualifying Accounts</FONT></A></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><A HREF="#SVQA"><FONT SIZE=2><BR>
36</FONT></A></TD>
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<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>15</FONT></P>

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<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="RIRPAF"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> Report of Independent Registered Public Accounting Firm  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>To
the Board of Directors and Shareholders<BR>
Nortech Systems Incorporated and Subsidiary </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have audited the accompanying consolidated balance sheets of Nortech Systems Incorporated and Subsidiary as of December&nbsp;31, 2011 and 2010, and the related consolidated
statements of income, shareholders' equity and cash flows for the years then ended. These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to
express an opinion on these consolidated financial statements based on our audits. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to
perform an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such
opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Nortech Systems Incorporated and Subsidiary as
of December&nbsp;31, 2011 and 2010, and the results of their operations and their cash flows for the years then ended, in conformity with U.S. generally accepted accounting principles. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>/s/
McGladrey&nbsp;&amp; Pullen,&nbsp;LLP </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Minneapolis,
Minnesota<BR>
March&nbsp;9, 2012 </FONT></P>
 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
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&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"> <FONT SIZE=2>
See accompanying Notes to Consolidated Financial Statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>16</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2><A
NAME="CBS"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> CONSOLIDATED BALANCE SHEETS  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
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<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
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<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:21pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>ASSETS

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 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>CURRENT ASSETS</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>230,582</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts Receivable, Less Allowance for Uncollectible Accounts</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,720,462</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>15,562,277</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Inventories</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>19,029,593</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,108,773</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Prepaid Expenses</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>572,140</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>596,363</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income Taxes Receivable</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>170,292</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>376,001</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred Taxes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>805,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>594,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Current Assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>37,297,487</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>33,467,996</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Property and Equipment, Net</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
9,083,874</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
7,157,543</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Finite Life Intangible Assets, Net of Accumulated Amortization</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>61,547</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>202,150</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred Taxes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>219,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other Assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>339,235</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>514,235</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>46,782,143</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>41,560,924</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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 <p style="font-family:arial;line-height:1pt;margin-left:18pt;"><font> </FONT> <FONT SIZE=2>
<!-- BLANK LINE TO FORCE PARA -->
&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"><font> </FONT> <FONT SIZE=2>
See accompanying Notes to Consolidated Financial Statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>17</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=17,EFW="2207776",CP="NORTECH SYSTEMS INCORPORATED",DN="1",CHK=602390,FOLIO='17',FILE='DISK129:[11ZEA1.11ZEA43901]FE43901A.;11',USER='DSCHWAR',CD=';7-MAR-2012;19:50' -->
<A NAME="page_fe43901_1_18"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> CONSOLIDATED BALANCE SHEETS (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010 </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:120pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>LIABILITIES AND SHAREHOLDERS' EQUITY

<!-- COMMAND=ADD_SCROPPEDRULE,120pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>CURRENT LIABILITIES</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Line of Credit</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>9,345,044</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,615,121</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Current Maturities of Long-Term Debt</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,310,210</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>841,760</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts Payable</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>11,333,013</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10,727,907</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accrued Payroll and Commissions</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,170,852</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,584,108</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other Accrued Liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>852,936</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>634,655</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Current Liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>25,012,055</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>20,403,551</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>LONG-TERM LIABILITIES</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Long-Term Debt (Net of Current Maturities)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>812,917</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,731,318</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred Taxes</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>271,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other Long-Term Liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>180,378</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>137,236</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Long-Term Liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,264,295</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,868,554</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:40pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Liabilities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>26,276,350</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>22,272,105</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>SHAREHOLDERS' EQUITY</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Preferred Stock, $1 par value; 1,000,000 Shares Authorized; 250,000 Shares Issued and Outstanding</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>250,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>250,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Common Stock&#151;$0.01 par value; 9,000,000 Shares Authorized; 2,742,992 Shares Issued and Outstanding at December&nbsp;31, 2011 and 2010,
respectively</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,430</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,430</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Additional Paid-In Capital</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>15,725,392</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>15,698,348</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accumulated Other Comprehensive Loss</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(62,936</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(62,936</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Retained Earnings</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4,565,907</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,375,977</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Shareholders' Equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>20,505,793</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>19,288,819</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:40pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Liabilities and Shareholders' Equity</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>46,782,143</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>41,560,924</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
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&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"><font> </FONT> <FONT SIZE=2>
See accompanying Notes to Consolidated Financial Statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>18</FONT></P>

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</FONT> <FONT SIZE=2>
<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="CCSI"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> CONSOLIDATED STATEMENTS OF INCOME  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="89pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Sales</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>114,236,411</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>99,820,069</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cost of Goods Sold</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>100,892,514</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>88,389,803</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Gross Profit</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>13,343,897</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11,430,266</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operating Expenses:</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Selling Expenses</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,644,658</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,120,202</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>General and Administrative Expenses</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>8,186,873</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7,079,873</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Operating Expenses</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11,831,531</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>10,200,075</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income From Operations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,512,366</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,230,191</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other Income (Expense)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Miscellaneous Income (Expense)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(41,723</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>80,698</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Bargain Purchase Gain</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>791,615</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest Expense</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(511,328</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(429,123</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Other Income (Expense)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>238,564</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(348,425</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income Before Income Taxes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,750,930</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>881,766</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income Tax Expense</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>561,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>375,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Income</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,189,930</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>506,766</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Earnings Per Common Share:</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Basic and Diluted</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
0.43</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
0.18</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Weighted Average Number of Common Shares Outstanding</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,742,992</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,742,389</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
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&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"><font> </FONT> <FONT SIZE=2>
See accompanying Notes to Consolidated Financial Statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>19</FONT></P>

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<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="CSSE"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:54%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<DIV ALIGN="CENTER"><TABLE width="150%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="60pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="82pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Preferred<BR>
Stock </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Common<BR>
Stock </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Additional<BR>
Paid-In<BR>
Capital </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Accumulated<BR>
Other<BR>
Comprehensive<BR>
Income (Loss) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Retained Earnings </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total<BR>
Shareholders'<BR>
Equity </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>BALANCE DECEMBER 31, 2009</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>250,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,390</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>15,654,160</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(73,909</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,869,211</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>18,726,852</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net loss</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>506,766</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>506,766</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Issuance of stock upon exercise of stock options</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>40</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12,460</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>12,500</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Compensation on stock-based awards</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>31,728</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>31,728</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Translation gain, net of tax</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10,973</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>10,973</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>BALANCE DECEMBER 31, 2010</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>250,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,430</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>15,698,348</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(62,936</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3,375,977</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>19,288,819</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,189,930</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,189,930</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Compensation on stock-based awards</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,044</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,044</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>BALANCE DECEMBER 31, 2011</B></FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>250,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,430</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>15,725,392</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(62,936</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>4,565,907</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>20,505,793</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
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&nbsp;&nbsp;&nbsp;
</font></p><p align=center style="font-family:arial;"><font> </FONT> <FONT SIZE=2>
See accompanying Notes to Consolidated Financial Statements. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>20</FONT></P>

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<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="CSCF"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> CONSOLIDATED STATEMENTS OF CASH FLOWS  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010  </B></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="74pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="74pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>CASH FLOWS FROM OPERATING ACTIVITIES</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,189,930</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>506,766</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Adjustments to Reconcile Net Income to Net Cash Provided by (Used in)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Operating Activities:</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Depreciation</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,895,061</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,554,577</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Amortization</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>140,603</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>141,399</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Compensation on Stock-Based Awards</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>27,044</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>31,728</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Interest on Swap Valuation</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(18,140</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(27,772</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Impairment on Assets Held for Sale</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>52,733</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>55,786</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Bargain Purchase Gain</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(791,615</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred Taxes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>279,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>288,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Loss on Disposal of Property and Equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,020</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>901</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Foreign Currency Transaction Loss</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>8,333</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Changes in Current Operating Items, Net of Effects of Business Acquisition</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts Receivable</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>718,771</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(3,532,471</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Inventories</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(2,920,820</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>865</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Prepaid Expenses and Other Assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>24,223</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(53,207</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income Taxes Receivable</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>205,709</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,139,543</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts Payable</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,167,228</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,674,954</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accrued Payroll and Commissions</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(413,256</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,127,119</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:28pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other Accrued Liabilities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(97,146</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,026,267</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:37pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Cash Provided by (Used in) Operating Activities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(874,111</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,890,254</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>CASH FLOWS FROM INVESTING ACTIVITIES</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Proceeds from Sale of Property and Equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>138,621</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Business Acquisition</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,542,389</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(402,969</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Purchases of Property and Equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,270,443</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(626,630</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:37pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Cash Used in Investing Activities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(2,674,211</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,029,599</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>CASH FLOWS FROM FINANCING ACTIVITIES</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Borrowings on Line of Credit</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,729,923</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>124,514</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Proceeds from Long-Term Debt</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,380,904</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Principal Payments on Long-Term Debt</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,793,087</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(2,013,106</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Proceeds from Issuance of Common Stock</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>12,500</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:37pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Cash Provided by (Used in) Financing Activities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,317,740</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,876,092</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Effect of Foreign Currency Exchange Rate Changes on Cash</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>638</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>NET DECREASE IN CASH</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
(230,582</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
(14,799</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash&#151;Beginning of Year</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
230,582</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
245,381</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:11pt;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2><B>CASH&#151;END OF YEAR</B></FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2><BR>
230,582</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Supplemental Disclosure of Cash Flow Information:</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash Paid During the Period for Interest</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>511,328</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>450,180</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Cash Paid (Received) During the Period for Income Taxes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>40,058</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(2,027,951</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Supplemental Noncash Investing and Financing Activities:</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Capital Expenditures in Accounts Payable</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>117,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Transfers of Property and Equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>201,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>21</FONT></P>

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</FONT> <FONT SIZE=2>
<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="NCFS"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>NOTE 1  NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Nature of Business  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We manufacture wire harnesses, cables and electromechanical assemblies, printed circuit boards and higher-level assemblies for a wide range of commercial and
defense industries. We provide a full "turn-key" contract manufacturing service to our customers. All products are built to the customer's design specifications. We also provide
engineering services separate from the manufacture of a product and repair service on circuit boards used in machines in the medical industry. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
manufacturing facilities are located in Bemidji, Blue Earth, Merrifield, Milaca, Mankato and Baxter, Minnesota as well as Augusta, Wisconsin and Monterrey, Mexico. Products are sold
to customers both domestically and internationally. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
summary of our significant accounting policies follows: </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Principles of Consolidation  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements include the accounts of our wholly owned subsidiary, Manufacturing Assembly Solutions of Monterrey,&nbsp;Inc. All
significant intercompany accounts and transactions have been eliminated. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Use of Estimates  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates
and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our consolidated financial statements. Estimates also
affect the reported amounts of revenue and expense during the reporting period. Significant items subject to estimates and assumptions include the valuation allowance for inventories, allowance for
doubtful accounts, realizability of deferred tax assets and fair value of acquired assets and assumed liabilities. Actual results could differ from those estimates. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Cash  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of reporting cash flows, we consider cash to be short-term, highly liquid interest-bearing accounts readily convertible to cash and whose
original maturity is three months or less. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Accounts Receivable and Allowance for Doubtful Accounts  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We grant credit to customers in the normal course of business. Accounts receivable are unsecured and are presented net of an allowance for uncollectible accounts.
The allowance for uncollectible accounts was $122,000 and $86,000 at December&nbsp;31, 2011 and 2010, respectively. We determine our allowance by considering a number of factors, including the
length of time accounts receivable are past due, our previous loss history, the customers' current ability to pay their obligations to us, and the condition of the general economy and the industry as
a whole. We write-off accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for uncollectible accounts. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Inventories  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories are stated at the lower of cost (first-in, first-out method) or market (based on the lower of replacement cost or net
realizable value). Costs include material, labor, and overhead required in the warehousing and production of our products. Inventory reserves are maintained for the estimated value of the inventory
that may have a lower value than stated or quantities in excess of future production needs. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories
are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Raw materials</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>13,056,955</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11,277,741</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Work in process</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,202,002</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,477,236</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Finished goods</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,880,764</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,395,843</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reserves</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,110,128</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,042,047</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>19,029,593</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,108,773</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>22</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=22,EFW="2207776",CP="NORTECH SYSTEMS INCORPORATED",DN="1",CHK=47673,FOLIO='22',FILE='DISK129:[11ZEA1.11ZEA43901]FM43901A.;33',USER='BEKUEHE',CD=';8-MAR-2012;13:21' -->
<A NAME="page_fm43901_1_23"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010 </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> NOTE 1  NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Property, Equipment and Depreciation  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment are stated at cost less accumulated depreciation. Additions, improvements and major renewals are capitalized, while maintenance, repairs
and minor renewals are expensed as incurred. When assets are retired or disposed of, the assets and related accumulated depreciation are removed from the accounts and the resulting gain or loss is
reflected in operations. Leasehold improvements are depreciated over the shorter of their estimated use lives or their remaining lease terms. All other property and equipment are depreciated by the
straight-line method over their estimated useful lives, as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Buildings</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>39 Years</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Leasehold improvements</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3-7 Years</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Manufacturing equipment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3-7 Years</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Office and other equipment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>3-7 Years</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property
and equipment at December&nbsp;31, 2011 and 2010: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="77pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="77pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Land</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>260,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>260,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Building and Leasehold Improvements</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>6,370,570</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>6,316,133</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Manufacturing Equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>14,156,261</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11,816,653</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Office and Other Equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4,240,137</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,523,526</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accumulated Depreciation</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(15,943,094</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(14,758,769</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:18pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Property and Equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>9,083,874</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7,157,543</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B><I>Assets Held for Sale  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets held for sale consist of property related to closed facilities that are currently being marketed for disposal. Assets held for sale are reported at the
lower of their carrying value or estimated fair value less costs to sell. At December&nbsp;31, 2011, land of $12,500 and one building, net of accumulated depreciation, of $244,003 are classified as
held for sale and shown in Other Assets on the balance sheet. At December&nbsp;31, 2010, land of $27,000 and two buildings, net of accumulated depreciation, of $405,000 were classified as held for
sale and shown in Other Assets on the balance sheet. We recognized impairment charges of $53,000 and $56,000 related to one of these buildings during the years ended December&nbsp;31, 2011 and 2010,
respectively. The sale of this building was finalized December&nbsp;15, 2011. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Finite Life Intangible Assets  </I></B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finite life intangible assets are primarily related to acquired customer base and bond issuance costs and are amortized on a straight-line basis over
their estimated useful lives. Finite life intangible assets at December&nbsp;31, 2011 and 2010 are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=11 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>December&nbsp;31, 2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Remaining<BR>
Lives<BR>
(Years) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross<BR>
Carrying<BR>
Amount </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Accumulated<BR>
Amortization<BR>
Amount </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net Book<BR>
Value<BR>
Amount </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Bond Issue Costs</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>10</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>79,373</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>29,105</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>50,268</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Customer Base</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>676,557</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>665,278</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11,279</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Totals</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>755,930</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>694,383</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>61,547</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;<BR></FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="42pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=11 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>December&nbsp;31, 2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Remaining<BR>
Lives<BR>
(Years) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Gross<BR>
Carrying<BR>
Amount </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Accumulated<BR>
Amortization<BR>
Amount </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Net Book<BR>
Value<BR>
Amount </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Bond Issue Costs</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>11</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>79,373</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>23,814</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>55,559</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Customer Base</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>676,557</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>529,966</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>146,591</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other intangibles</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>28,560</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>28,560</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Totals</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>784,490</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>582,340</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>202,150</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>23</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=23,EFW="2207776",CP="NORTECH SYSTEMS INCORPORATED",DN="1",CHK=395041,FOLIO='23',FILE='DISK129:[11ZEA1.11ZEA43901]FM43901A.;33',USER='BEKUEHE',CD=';8-MAR-2012;13:21' -->
<A NAME="page_fm43901_1_24"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010 </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> NOTE 1  NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization
expense related to these assets was as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Year ended December&nbsp;31, 2011</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>140,603</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Year ended December&nbsp;31, 2010</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>141,399</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Estimated future annual amortization expense related to these assets for the years ending December&nbsp;31, is as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="7pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="56pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>17,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2014</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2015</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2016</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>5,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Thereafter</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>25,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:9pt;text-indent:-9pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>62,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B><I>Impairment Analysis  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We evaluate property and equipment and intangible assets with finite lives for impairment and for propriety of the related amortization periods, to determine
whether adjustments to these amounts or useful lives are required based on current events and circumstances. The evaluation is based on our projection of the undiscounted future operating cash flows
of the underlying assets. To the extent such projections indicate that future undiscounted cash flows are not sufficient to recover the carrying amounts of related assets, a charge might be required
to reduce the carrying amount to the asset's estimated fair value. In 2011 and 2010, we recorded an impairment charge of approximately $53,000 and $56,000, respectively on a building held for sale.
The building was sold on December&nbsp;15, 2011. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Preferred Stock  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock issued is non-cumulative and nonconvertible. The holders of the preferred stock are entitled to a non-cumulative dividend
of 12% when and as declared. In liquidation, holders of preferred stock have preference to the extent of $1.00 per share plus dividends accrued but unpaid. No preferred stock dividends were declared
or paid during the years ended December&nbsp;31, 2011 and 2010. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Revenue Recognition  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We recognize revenue upon shipment of manufactured products to customers, when title has passed, all contractual obligations have been satisfied and collection of
the resulting receivable is reasonably assured. We also provide engineering services separate from the manufacture of a product. Revenue for engineering services, which are short term in nature, is
recognized upon completion of the engineering process, providing standalone fair value to our customers. In addition, we have another separate source of revenue that comes from short-term
repair services, which are recognized upon completion of the repairs, and the repaired products are shipped back to the customer. Shipping and handling costs charged to our customers are included in
net sales, while the corresponding shipping expenses are included in cost of goods sold. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Business Combinations  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We account for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification (ASC) Topic&nbsp;805,
"Business Combinations". We recognize amounts for identifiable assets acquired and liabilities assumed equal to their estimated acquisition date fair values. We hired a third party valuation
specialist to determine the value of property and equipment acquired. Transaction and integration costs associated with business combinations are expensed as incurred. Any excess of the acquisition
price over the estimated fair value of net assets acquired is recorded as goodwill while any excess of the estimated fair value of net assets acquired over the acquisition price is recorded in current
earnings as a gain. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Product Warranties  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We provide limited warranty for the replacement or repair of defective product at no cost to our customers within a specified time period after the sale. We make
no other guarantees or warranties, expressed or implied, of any nature whatsoever as to the goods including, without limitation, warranties to merchantability, fit for a particular purpose or
non-infringement of patent or the like unless agreed upon in writing. We estimate the costs that may be incurred under our limited warranty and reserve based on actual historical warranty
claims coupled with an analysis of unfulfilled claims at the balance sheet </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>24</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010 </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> NOTE 1  NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>date.
Our warranty claims costs are not material given the nature of our products and services which normally result in repair and return in the same accounting period. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Advertising  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advertising costs are charged to operations as incurred. The total amount charged to expense was $157,000 and $167,000 for the years ended December&nbsp;31,
2011 and 2010, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Income Taxes  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We account for income taxes under the asset and liability method. Deferred income tax assets and liabilities are recognized annually for differences between the
financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the
differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Fair Value of Financial Instruments  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The carrying amounts of all financial instruments approximate their fair values. The carrying amounts for cash, accounts receivable, accounts payable, accrued
liabilities and the line of credit approximate fair value because of the short maturity of these instruments. Based on the borrowing rates currently available to us for bank loans with similar terms
and average maturities, the carrying value of our long-term debt approximates its fair value. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair
value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
fair value framework requires the categorization of assets and liabilities into one of three levels based on the assumptions (inputs) used in valuing the asset or liability. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level&nbsp;1
provides the most reliable measure of fair value, while Level&nbsp;3 generally requires significant management judgment. The three levels are defined as follows: </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level&nbsp;1:&nbsp;&nbsp;&nbsp;&nbsp;Unadjusted
quoted prices in active markets for identical assets or liabilities. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level&nbsp;2:&nbsp;&nbsp;&nbsp;&nbsp;Observable
inputs other than quoted prices included in Level&nbsp;1, such as quoted prices for similar assets or liabilities in active markets or quoted
prices for identical assets or liabilities in inactive markets. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Level&nbsp;3:&nbsp;&nbsp;&nbsp;&nbsp;Unobservable
inputs reflecting management's own assumptions about the inputs used in pricing the asset or liability. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
assessment of the significance of a particular input to the fair value measurements requires judgment, and may affect the valuation of the assets and liabilities being measured and
their placement within the fair value hierarchy. We endeavor to use the best available information in measuring fair value. Assets and liabilities are classified in their entirety based on the lowest
level of input that is significant to the fair value measurement. As of December&nbsp;31, 2010, our only asset or liability accounted for at fair value was our interest rate swap which was included
in Other Long-Term Liabilities. The interest rate swap expired in 2011. We determined that the fair value of the swap, based on LIBOR and swap rates, fell within Level&nbsp;2 in the fair
value hierarchy. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Stock-Based Compensation  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We account for stock-based compensation in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification 718, </FONT> <FONT
SIZE=2><I>Compensation&#151;Stock Compensation.</I></FONT><FONT SIZE=2> Stock-based compensation expense was $27,000 ($.01 per diluted common share) for 2011 and $32,000 ($.01 per
diluted common share) for 2010. See Note&nbsp;7 for additional information. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Derivative Financial Instruments  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On June&nbsp;28, 2006, we entered into an interest rate swap agreement to effectively convert our industrial revenue bond debt from a variable rate to a fixed
rate. The swap expired June 2011. The change in market value of an interest rate swap is recognized in the statements of income by a charge or credit to interest expense. Further information related
to our interest rate swap is disclosed in Note&nbsp;3. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>25</FONT></P>

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</FONT> <FONT SIZE=2>
<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>NOTE&nbsp;1   NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Net Income Per Common Share  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic net income per common share is computed using the weighted-average number of common shares outstanding. For the years ended December&nbsp;31, 2011 and
2010, no outstanding options were included in the computation of per-share amounts as the effect of all stock-based awards were antidilutive. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>Enterprise-Wide Disclosures  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our results of operations for the years ended December&nbsp;31, 2011 and 2010 represent a single reportable segment referred to as Contract Manufacturing within
the EMS industry. We strategically direct production between our various manufacturing facilities based on a number of considerations to best meet our customers' requirements. We share resources for
sales, marketing, information services, cash and risk management, banking, credit and collections, human resources, payroll, internal control, audit, taxes, SEC reporting and corporate accounting.
Consolidated financial information is available that is evaluated regularly by the chief operating decision maker in assessing performance and allocating resources. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Export
sales represent approximately 6% of consolidated net sales for each of the years ended December&nbsp;31, 2011 and 2010. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net
sales by our major EMS industry markets for the year ended December&nbsp;31, 2011 and 2010 are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=5 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Year Ended December&nbsp;31 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;"><I>(in thousands)</I></FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Aerospace and Defense</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,478</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,152</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Medical</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>33,378</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>29,329</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Industrial</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>64,380</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>54,339</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total Net Sales</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>114,236</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>99,820</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncurrent
assets, excluding deferred taxes, by country are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:75%;margin-left:12%;">
<p style="font-family:arial;"></FONT></P>

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<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>United States </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Mexico </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Total </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net property and equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>8,811,273</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>272,601</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>9,083,874</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>393,056</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7,726</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>400,782</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2010</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net property and equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>6,965,816</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>191,727</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7,157,543</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>708,659</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7,726</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>716,385</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B><I>Foreign Currency Transactions  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the fourth quarter of 2010, we reevaluated the functional currency for our operations in Mexico and determined that the functional currency is the U.S.
Dollar. As a result, the Company is no longer recording translation adjustments related to assets and liabilities or income and expense items that are transacted in the local currency as a component
of accumulated other comprehensive loss in shareholders' equity. Foreign exchange transaction gains and losses attributable to exchange rate movements related to transactions made in the local
currency and on intercompany receivables and payables not deemed to be of a long-term investment nature are recorded in other income (expense). </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>26</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=26,EFW="2207776",CP="NORTECH SYSTEMS INCORPORATED",DN="1",CHK=523608,FOLIO='26',FILE='DISK129:[11ZEA1.11ZEA43901]FO43901A.;49',USER='BEKUEHE',CD=';8-MAR-2012;13:28' -->
<A NAME="page_fo43901_1_27"> </A>

<P style="font-family:arial;"><FONT SIZE=2><B>NOTE 2  MAJOR CUSTOMERS AND CONCENTRATION OF CREDIT RISK  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and accounts receivable. With regard to cash, we maintain our excess cash
balances in checking accounts at one high-credit quality financial institution. These accounts may at times exceed federally insured limits. We do not require collateral on our
receivables. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Two
divisions of General Electric,&nbsp;Co. (G.E.) accounted for 10% or more of our net sales during the past two years. G.E.'s Medical Division accounted for 16% and 19% of net sales
for the years ended December&nbsp;31, 2011 and 2010, respectively. G.E.'s Transportation Division accounted for 7% and 8% of net sales for the years ended December&nbsp;31, 2011 and 2010,
respectively. Together, G.E.'s Medical and Transportation Divisions accounted for 23% and 27% of net sales for the years ended December&nbsp;31, 2011 and 2010, respectively. Accounts receivable from
G.E.'s Medical and Transportation Divisions at December&nbsp;31, 2011 and 2010 represented 17% and 14% of total accounts receivable, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>NOTE 3  FINANCING AGREEMENTS  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our credit agreement with Wells Fargo Bank (WFB) provides for a line of credit arrangement of $13.5&nbsp;million, which expires on May&nbsp;31, 2013, if not renewed. The credit
arrangement also has a real estate term note with a maturity date of May&nbsp;31, 2012, and a $475,000 equipment term loan tied to equipment purchased in the Mankato acquisition (Note&nbsp;9). The
$1,009,050 balance of the real estate term note was classified as current at December&nbsp;31, 2011, however we are in negotiations to finalize and extend our real estate term note prior to
maturity. Under the agreement, both the line of credit and real estate term note are subject to variations in the LIBOR rate. Our line of credit bears interest at three-month
LIBOR&nbsp;+&nbsp;3.00% (3.60% at December&nbsp;31, 2011) while our real estate term note bears interest at three-month LIBOR&nbsp;+&nbsp;3.5% (4.1% at December&nbsp;31, 2011). The
weighted-average interest rate on our line of credit and real estate term note were 3.81% and 4.27%, respectively for the year ended December&nbsp;31, 2011. We had borrowings on our line of credit
of $9,345,044 and $5,615,121 outstanding as of December&nbsp;31, 2011 and 2010, respectively. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
line of credit and other installment debt with WFB contain certain covenants which, among other things, require us to adhere to regular reporting requirements, abide by annual
shareholder dividend limitations, maintain certain financial performance, and limit the amount of annual capital expenditures. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
availability under the line is subject to borrowing base requirements, and advances are at the discretion of the lender. At December&nbsp;31, 2011, we have net unused availability
under our line of credit of approximately $3.9&nbsp;million. The line is secured by substantially all of our assets. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
summary of long-term debt balances at December&nbsp;31, 2011 and 2010 is as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="78pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:34pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Description

<!-- COMMAND=ADD_SCROPPEDRULE,34pt -->

 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Term notes payable&#151;Wells Fargo Bank, N.A.</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Real estate term note</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,009,050</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,354,568</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equipment notes bearing interest at three month LIBOR&nbsp;+&nbsp;4.5% (approx. 5.1%) and 4.95%, maturing May 2013 and May 2012, respectively with
combined monthly payments of approximately $42,000 plus interest; secured by substantially all assets.&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>514,077</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>493,510</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Industrial revenue bond payable to the City of Blue Earth, Minnesota which bears a variable interest rate (approx. 0.4% at December&nbsp;31, 2011), and
has a maturity date of June&nbsp;1, 2021, with principal of $80,000 payable annually on June&nbsp;1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>600,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>725,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total long-term debt</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,123,127</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,573,078</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:40pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Current maturities of long-term debt</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(1,310,210</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(841,760</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:30pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Long-term debt&#151;net of current maturities</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>812,917</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,731,318</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>27</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=2,SEQ=27,EFW="2207776",CP="NORTECH SYSTEMS INCORPORATED",DN="1",CHK=992837,FOLIO='27',FILE='DISK129:[11ZEA1.11ZEA43901]FO43901A.;49',USER='BEKUEHE',CD=';8-MAR-2012;13:28' -->
<A NAME="page_fo43901_1_28"> </A>

<P style="font-family:arial;"><FONT SIZE=2><B> NOTE 3  FINANCING AGREEMENTS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Future
maturity requirements for long-term debt are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:81pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Years Ending December&nbsp;31,

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 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Amount </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2012</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,310,210</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>372,917</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2014</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>80,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2015</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>80,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2016</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>80,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Future</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>200,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,123,127</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
June&nbsp;28, 2006, we entered into an interest rate swap agreement with a notional amount of $1,440,000 to effectively convert our industrial revenue bond debt from a variable rate
to a fixed rate of 4.07% for five years, which expired in June 2011. We did not use this interest rate swap for speculative purposes. The fair value of the swap of $18,140 was recorded in Other
Long-Term Liabilities at December&nbsp;31, 2010. The change in the fair value of ($18,140) and ($27,772) for the years ended December&nbsp;31, 2011 and 2010, respectively was recorded
as a component of interest expense. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>NOTE 4  INCOME TAXES  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The income tax expense for the years ended December&nbsp;31, 2011 and 2010 consists of the following: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:75%;margin-left:12%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Current taxes&#151;Federal</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>273,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>128,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Current taxes&#151;State</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(13,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(41,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Current taxes&#151;Foreign</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>23,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>19,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred taxes&#151;Federal</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>223,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>253,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred taxes&#151;State</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>55,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>16,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income tax expense</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>561,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>375,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
statutory rate reconciliation for the years ended December&nbsp;31, 2011 and 2010 is as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:75%;margin-left:12%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Statutory federal tax provision</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>595,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>298,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>State income taxes</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>52,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>34,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Effect of foreign operations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(6,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(5,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income tax credits</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(66,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(95,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>NOL carryback true up</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>106,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other, including benefit of income taxed at lower rates</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(18,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>37,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Income tax expense</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>561,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>375,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income
from operations before income taxes was derived from the following sources: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:75%;margin-left:12%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Domestic</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,666,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>820,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Foreign</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>85,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>62,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,751,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>882,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>28</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
<!-- ZEQ.=3,SEQ=28,EFW="2207776",CP="NORTECH SYSTEMS INCORPORATED",DN="1",CHK=996905,FOLIO='28',FILE='DISK129:[11ZEA1.11ZEA43901]FO43901A.;49',USER='BEKUEHE',CD=';8-MAR-2012;13:28' -->
<A NAME="page_fo43901_1_29"> </A>

<P style="font-family:arial;"><FONT SIZE=2><B> NOTE 4  INCOME TAXES (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred
tax assets (liabilities) at December&nbsp;31, 2011 and 2010, consist of the following: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:75%;margin-left:12%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="78pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Allowance for uncollectable accounts</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>45,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>31,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Inventories reserve</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>408,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>383,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accrued vacation</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>352,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>308,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Health insurance reserve</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>13,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Non-compete amortization</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>390,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>397,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Stock-based compensation</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>69,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>59,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>393,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>425,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred tax assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,657,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,616,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Prepaid expenses</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(200,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(211,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Property and equipment</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(923,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(592,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Deferred tax liabilities</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,123,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(803,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net deferred tax assets</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>534,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>813,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
net deferred taxes summarized above have been classified on the accompanying consolidated balance sheets as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:75%;margin-left:12%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="67pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net current deferred tax assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>805,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>594,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net non-current deferred tax assets (liabilities)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(271,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>219,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net deferred tax assets</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>534,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>813,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have determined that it is more likely than not that our deferred tax assets will be realized, principally through anticipated taxable income in future tax years. As a result, we have
determined that establishing a valuation allowance on our deferred tax assets is not necessary. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
tax effects from an uncertain tax position can be recognized in our consolidated financial statements, only if the position is more likely than not to be sustained on audit, based on
the technical merits of the position. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the
position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than
50&nbsp;percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The following table sets forth changes in our total gross unrecognized tax benefit liabilities,
excluding accrued interest, for the year ended December&nbsp;31, 2011: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Balance as of December&nbsp;31, 2009</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>115,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Tax positions related to current year:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Additions</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>27,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reductions</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(28,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Balance as of December&nbsp;31, 2010</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>114,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Tax positions related to current year:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Additions</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>100,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Reductions</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(96,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Balance as of December&nbsp;31, 2011</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>118,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->
 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
$118,000 of unrecognized tax benefits as of December&nbsp;31, 2011 includes amounts which, if ultimately recognized, will reduce our annual effective tax rate. It is included in
Other Long-Term Liabilities on the accompanying consolidated balance sheets. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>29</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
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</FONT> <FONT SIZE=2>
<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010  </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B>NOTE 4  INCOME TAXES (Continued)  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
policy is to accrue interest related to potential underpayment of income taxes within the provision for income taxes. The liability for accrued interest as of December&nbsp;31,
2011 was not significant. Interest is computed on the difference between our uncertain tax benefit positions and the amount deducted or expected to be deducted in our tax returns. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
are subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related
tax laws and regulations and require significant judgment to apply. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With
few exceptions, we are no longer subject to U.S. federal, state or local income tax examinations by tax authorities for the years before 2008. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>NOTE 5  COMPREHENSIVE INCOME  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comprehensive
income is comprised of net income and other comprehensive income. Other comprehensive income includes income or losses resulting from foreign currency translations
recognized prior to 2011. The details of comprehensive income are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:75%;margin-left:12%;">
<p style="font-family:arial;"></FONT></P>

<!-- COMMAND=ADD_TABLEWIDTH,"100%" -->

<!-- User-specified TAGGED TABLE -->
<DIV ALIGN="CENTER"><TABLE width="100%"  BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="61pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Year Ended<BR>
December&nbsp;31<BR>
2011 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Year Ended<BR>
December&nbsp;31<BR>
2010 </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net income, as reported</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,189,930</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>506,766</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Other comprehensive income</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>10,973</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Comprehensive income</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,189,930</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>517,739</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B>NOTE 6  401(K) RETIREMENT PLAN  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have a 401(k) profit sharing plan (the "Plan") for our employees. The Plan is a defined contribution plan covering substantially all of our U.S. employees. Employees are eligible to
participate in the Plan after completing three months of service and attaining the age of 18. Employees are allowed to contribute up to 60% of their wages to the Plan. Historically we have matched 25%
of the employees' contribution up to 6% of covered compensation. We suspended this benefit from the second quarter of 2009 thru June 2010, at which time the match was reinstated. We made contributions
of approximately $196,000 and $79,000 during the years ended December&nbsp;31, 2011 and 2010, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>NOTE 7  INCENTIVE PLANS  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Employee Profit Sharing  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During 1993, we adopted an employee profit sharing plan (the "Plan"). The purpose of the Plan is to provide a bonus for increased output, improved quality and
productivity and reduced costs. We have authorized 50,000 common shares to be available under this Plan. In accordance with the terms of the Plan, employees could acquire newly issued shares of common
stock for 90% of the current market value. During 2011 and 2010 no common shares were issued in connection with this plan. Through December&nbsp;31, 2011, 22,118 common shares had been issued under
this Plan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Stock Options  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In 1992, we approved the adoption of a fixed stock based compensation plan. In February 2003, we reached the maximum options allowed to be granted under that
plan. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
2003, our shareholders approved the adoption of the Nortech Systems Incorporated 2003 Stock Option Plan (the "2003 Plan"). On May&nbsp;3, 2005, the shareholders approved the
2005 Incentive Compensation Plan (the "2005 Plan") and eliminated the remaining 172,500 option shares available for grant under the 2003 Plan effective February&nbsp;23, 2005. The total number of
shares of common stock that may be granted under the 2005 Plan is 200,000, of which 29,000 remain available for grant at December&nbsp;31, 2011. The 2005 Plan provides that option shares granted
come from our authorized but unissued common stock. The price of the option shares granted under the plan will not be less than 100% of the fair market value of the common shares on the date of grant.
Options are generally exercisable after one or more years and expire no later than 10&nbsp;years from the date of grant. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>30</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
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<A NAME="page_fq43901_1_31"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010 </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> NOTE 7  INCENTIVE PLANS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
2007, the Board of Directors approved the adoption of the FOCUS Incentive Plan (the "2007 Plan"). The purpose of the 2007 Plan was to provide incentives to our employees to
increase our return on sales "ROS" performance measurement. The FOCUS plan was unique from the preceding Plans in that vesting of options was conditional upon our achievement of established
performance measurements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
these performance measures were not met, no options granted under this Plan will ever vest. Effective January&nbsp;19, 2012, the Board of Directors terminated the 2007 Plan and as a
result all outstanding options from this plan were cancelled. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
estimate the fair value of share-based awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is
recognized as expense in the consolidated statements of income over the requisite service periods. Because share-based compensation expense is based on awards that are ultimately expected to vest,
share-based compensation expense will be reduced to account for estimated forfeitures. We estimate forfeitures at the time of grant and revise the estimate, if necessary, in subsequent periods if
actual forfeitures differ from those estimates. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
used the Black-Scholes option-pricing model to calculate the fair value of option-based awards. Our determination of fair value of option-based awards on the date of grant using the
Black-Scholes model is affected by our stock price as well as assumptions regarding a number of subjective variables as noted in the following table. These variables include, but are not limited to,
our expected stock price volatility over the term of the awards, risk-free interest rate, and the expected life of the options. The risk-free interest rate is based on a
treasury instrument whose term is consistent with the expected life of our stock options. The expected volatility and holding period are based on our historical experience. For all grants, the amount
of compensation expense recognized has been adjusted for an estimated forfeiture rate, which is based on historical data. There were no grants during the years ended December&nbsp;31, 2011 and 2010. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Stock Options with Time-Based Vesting  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total compensation expense related to stock options with time-based vesting for the years ended December&nbsp;31, 2011 and 2010 was $27,044 and
$31,728, respectively. As of December&nbsp;31, 2011 there was no unrecognized compensation expense related to unvested option awards. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
summary of option activity under all plans as of December&nbsp;31, 2011, and changes during the year then ended is presented below. </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="54pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="41pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="47pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="46pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<!-- TABLE COLUMN WIDTHS END --></TR>

<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Options </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Weighted-<BR>
Average<BR>
Exercise<BR>
Price Per<BR>
Share </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Weighted-<BR>
Average<BR>
Remaining<BR>
Contractual<BR>
Term<BR>
(in years) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Aggregate<BR>
Intrinsic<BR>
Value </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Outstanding&#151;January&nbsp;1, 2011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>663,150</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7.32</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Forfeited</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(39,550</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7.28</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Outstanding&#151;December&nbsp;31, 2011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>623,600</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7.33</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>4.55</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Exercisable on December&nbsp;31, 2011</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>304,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7.21</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3.46</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There
were no grants during the years ended December&nbsp;31, 2011 and 2010. The weighted average fair value of options vested during the years ended December&nbsp;31, 2011 and 2010
were $2.64 and $3.69, respectively. The total intrinsic value of options exercised during the year ended December&nbsp;31, 2010 was $20. There were no options exercised for the year ended
December&nbsp;31, 2011. Cash received from options exercised under all share-based payment arrangements for the years ended December&nbsp;31, 2010 was $12,500. We recognize the tax benefit from
the exercise of options in the statement of cash flows as a cash inflow from financing activities. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>31</FONT></P>

<HR NOSHADE>
<P style='font-family:arial;page-break-before:always'></p>
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<A NAME="page_fq43901_1_32"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010 </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> NOTE 7  INCENTIVE PLANS (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Equity Appreciation Rights Plan  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In November 2010, the Board of Directors approved the adoption of the Nortech Systems Incorporated Equity Appreciation Rights Plan (the "2010 Plan"). The total
number of Equity Appreciation Right Units (Units) the Plan can issue shall not exceed an aggregate of 750,000 Units, of which 100,000 Units were issued during the year ended December&nbsp;31, 2010.
There were no additional Units granted during the year ended December&nbsp;31, 2011. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
2010 Plan provides that Units issued shall fully vest three years from the grant date unless terminated earlier. Units give the holder a right to receive a cash payment equal to the
appreciation in book value per share of common stock from the base date, as defined, to the redemption date. Unit redemption payments under this plan shall be paid in cash within 90&nbsp;days after
we determine the book value of the Units as of the calendar year immediately preceding the redemption date. The Units issued during the year ended December&nbsp;31, 2010 have a book value per Unit
of $6.84 and have a weighted average life remaining of one year at December&nbsp;31, 2011. Total compensation expense related to these Units based on the estimated appreciation over their remaining
term for the years ended December&nbsp;31, 2011 and 2010 was $57,000 and $5,000, respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>NOTE 8  COMMITMENTS AND CONTINGENCIES  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Operating Leases  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have various operating leases for production and office equipment, office space, and buildings under non-cancelable lease agreements expiring on
various dates through 2017. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rent
expense for the years ended December&nbsp;31, 2011 and 2010 amounted to approximately $1,006,000 and $914,000 respectively. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Approximate
future minimum lease payments under non-cancelable leases are as follows: </FONT></P>
 <DIV style="padding:0pt;position:relative;width:80%;margin-left:10%;">
<p style="font-family:arial;"></FONT></P>

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<TR><!-- TABLE COLUMN WIDTHS SET -->
<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="73pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:91pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Years Ending December&nbsp;31,

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 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Amount </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2012</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>750,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2013</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>625,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2014</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>477,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2015</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>415,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>2016</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>335,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Thereafter</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>336,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>2,938,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
</TABLE></DIV>
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 </DIV>
 <P style="font-family:arial;"><FONT SIZE=2><B><I>Litigation  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are subject to various legal proceedings and claims that arise in the ordinary course of business. In our opinion, the amount of any ultimate liability with
respect to these actions will not materially affect our consolidated financial statements or results of operations. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B><I>Executive Life Insurance Plan  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During 2002, we set up an Executive Bonus Life Insurance Plan (the "Plan") for our key employees ("participants"). Pursuant to the Plan, we will pay a bonus to
officer participants of 15% and a bonus to all other participants of 10% of the participants' base annual salary, as well as an additional bonus to cover federal and state taxes incurred by the
participants. The participants are required to purchase life insurance and retain ownership of the life insurance policy once it is purchased. The Plan provides a five-year graded vesting
schedule in which the participants vest at a rate of 20% each year. Should a participant terminate employment prior to the fifth year of vesting, that participant may be required to reimburse us for
any unvested amounts, under certain circumstances. Expenses under the Plan were $327,000 and $338,000 for the years ended December&nbsp;31, 2011 and 2010, respectively. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>32</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010 </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> NOTE 8  COMMITMENTS AND CONTINGENCIES (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B><I>Change of Control Agreements  </I></B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During 2002, we entered into Change of Control Agreements (the "Agreement(s)") with certain key executives ("the Executive(s)"). The Agreements provide an
inducement for each Executive to remain as an employee in the event of any proposed or anticipated change of control in the organization, including facilitating an orderly transition, and to provide
economic security for the Executive after a change in control has occurred. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event of an involuntarily termination, each Executive would receive their base salary, annual bonus at time of termination, and continued participation in health, disability and
life insurance plans for a period of three years for officers and two years for all other participants. Participants would also receive professional outplacement services up to $10,000, if applicable.
Each Agreement remains in full force until the Executive terminates employment or we terminate the employment of the Executive. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>NOTE 9  BUSINESS ACQUISITION  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;4, 2010, we acquired all of the intellectual property and assets, excluding cash and receivables, of Trivirix Corporation, Milaca, MN for cash of $403,000. The fair value
of assets acquired included $303,000 in inventories and $100,000 in property and equipment. This operation specializes in design, manufacturing and post-production services of complex
electronic and electromechanical medical devices for diagnostic, analytical and other life-science applications. This acquisition expands our capabilities and expertise serving medical
electronics manufacturers. The acquisition has been accounted for as a business combination and results of operations for Milaca since the date of acquisition are included in the consolidated
financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
January&nbsp;1, 2011, we completed the purchase of certain assets and certain liabilities relating to Winland Electronics,&nbsp;Inc.'s EMS operations (Winland) located in Mankato,
MN. Winland is a designer and manufacturer of custom electronic control products and systems. This purchase provided needed manufacturing capacity, particularly for supporting medical and industrial
customers with printed circuit board assemblies and higher-level builds. The acquisition was accounted for as a business combination and results of operations since the date of acquisition are
included in the consolidated financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
paid $1,042,389 in cash at closing, $212,233 on July&nbsp;1, 2011 and $250,000 on October&nbsp;1, 2011. As provided for in the purchase agreement, our July&nbsp;1, 2011 required
payment of $250,000 was reduced by $37,767 for acquired accounts receivable which were deemed uncollectible in the second quarter and assigned back to Winland. As part of the acquisition we also
agreed to purchase from Winland a minimum of $2,200,000 of inventories to be consumed over a period of 24&nbsp;months. We have exceeded this minimum requirement as of December&nbsp;31, 2011. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
also agreed to manufacture certain products for Winland's remaining proprietary monitoring devices business unit. For the year ended December&nbsp;31, 2011, sales to Winland were
approximately $2,700,000. Accounts receivable outstanding from Winland was approximately $424,000 at December&nbsp;31, 2011. We also signed a six year agreement to lease office and manufacturing
space at 1950 Excel Drive, Mankato, Minnesota, 56001, and sublease 1,924 square feet back to Winland through December&nbsp;31, 2011. This sublease is now month to month. Net rent expense under this
operating lease for the year ended December&nbsp;31, 2011 was approximately $253,000 and is included in cost of good sold. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table presents the allocation of the acquisition cost to the assets acquired and liabilities assumed, based on their estimated fair values at the time of the acquisition: </FONT></P>
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<TD WIDTH="" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="78pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts receivable</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,914,723</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Property, plant and equipment</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,451,000</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Accounts payable assumed</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(1,772,334</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Lease payoff</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>(259,385</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net assets acquired</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>2,334,004</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Purchase price</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>1,542,389</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="BOTTOM">
<TD style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Bargain purchase gain</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2>791,615</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
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<P style="font-family:arial;"><FONT SIZE=2><A
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<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> DECEMBER 31, 2011 AND 2010 </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> NOTE 9  BUSINESS ACQUISITION (Continued) </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
recognized a $791,615 bargain purchase gain related to the excess fair value over the purchase price for the assets acquired in the first quarter. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
table below reflects our unaudited pro forma combined results of operations as if the acquisition had taken place as of January&nbsp;1, 2010: </FONT></P>
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<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
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<TR VALIGN="BOTTOM">
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Pro Forma<BR>
For the Year Ended<BR>
December&nbsp;31, 2010<BR>
(unaudited) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Sales</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>114,473,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Loss from Continuing Operations</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(291,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Net Loss</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(0.11</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Basic Loss per Common Share</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(0.11</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
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 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Combined
results for the two companies for the year ended December&nbsp;31, 2010 were adjusted for the following in order to create the unaudited proforma results in the table
above:</FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Additional rent expense of approximately $65,000 per quarter for the lease of the facility from Winland, offset by
building depreciation of $21,000 per quarter, </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Additional depreciation expense of approximately $40,000 per quarter resulting from the adjustment of property and
equipment to their fair values, </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Elimination of inventory obsolescence charges of approximately $297,000 as we did not acquire Winland's inventory as part
of the acquisition, </FONT><FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Tax benefit of approximately $489,000 using an effective tax rate of 38&nbsp;percent, </FONT> <FONT SIZE=2>
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>&#149;</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>The impact of these adjustments on outstanding shares of 2,742,389 was to decrease proforma loss per share by $0.29. </FONT></DD></DL>
</UL>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
pro forma unaudited results do not purport to be indicative of the results which would have been obtained had the acquisition been completed as of the beginning of the earliest
period presented. In addition they do not include any benefits that may result from the acquisition due to synergies that may be derived from the elimination of any duplicative costs. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>34</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2><A
NAME="RIRPASI"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> Report of Independent Registered Public Accounting Firm on Supplementary Information  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>To
the Board of Directors and Shareholders<BR>
Nortech Systems Incorporated and Subsidiary </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
audits of the consolidated financial statements referred to in our report dated March&nbsp;9, 2012, (included elsewhere in this Annual Report on Form&nbsp;10-K) also
included the consolidated financial statement schedule of Nortech Systems Incorporated and Subsidiary, listed in Item&nbsp;15(a) of this Form&nbsp;10-K. This schedule is the
responsibility of Nortech Systems Incorporated and Subsidiary's management. Our responsibility is to express an opinion based on our audits of the consolidated financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
our opinion, the consolidated financial statement schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly in all
material respects the information set forth therein. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>/s/ </FONT> <FONT SIZE=2>MCGLADREY&nbsp;&amp; PULLEN,&nbsp;LLP</FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>Minneapolis,
Minnesota<BR>
March&nbsp;9, 2012 </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>35</FONT></P>

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NAME="SVQA"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B><BR>
NORTECH SYSTEMS INCORPORATED AND SUBSIDIARY  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> SCHEDULE II&#151;Valuation and Qualifying Accounts  </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010  </B></FONT></P>
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<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="81pt" style="font-family:arial;"></TD>
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<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:45pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Classification

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 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Balance at<BR>
Beginning<BR>
of Year </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Additions Charged<BR>
to Costs<BR>
and Expenses </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Deductions </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Balance at<BR>
End of<BR>
Year </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Year Ended December&nbsp;31, 2011:</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Allowance for Uncollectible Accounts</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>86,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>42,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(6,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>122,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Inventory Reserves</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,042,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>889,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(821,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,110,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Self-insurance Accrual</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>35,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>49,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(84,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&#151;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Year Ended December&nbsp;31, 2010:</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Allowance for Uncollectible Accounts</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>138,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>58,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(110,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>86,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Inventory Reserves</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,095,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,243,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(1,296,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>1,042,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:20pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Self-insurance Accrual</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>310,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>3,110,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>(3,385,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>)</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>35,000</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2>
<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="ga43901_item_9._changes_in_and_disagre__ite03576"> </A>
ITEM 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="ga43901_item_9a._controls_and_procedures"> </A>
ITEM 9A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONTROLS AND PROCEDURES    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Evaluation of disclosure controls and procedures.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In accordance with Rule&nbsp;13a-15(b) of
the Securities Exchange Act of 1934 (the "Exchange Act"), as of the end of the period covered by this Annual Report on Form&nbsp;10-K, the Company's management evaluated, with the
participation of the Company's President and Chief Executive Officer and the Chief Financial Officer, the effectiveness of the design and operation of the Company's disclosure controls and procedures
(as defined in Rule&nbsp;13a-15(e) under the Exchange Act). Based upon their evaluation of these disclosure controls and procedures, the President and Chief Executive Officer and the
Chief
Financial Officer have concluded that the disclosure controls and procedures were effective as of the date of such evaluation in ensuring that information required to be disclosed in the Company's
Exchange Act reports is (1)&nbsp;recorded, processed, summarized and reported in a timely manner, and (2)&nbsp;accumulated and communicated to management, including the Company's President and
Chief Executive Officer and the Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Changes in internal control.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;There was no change in the Company's internal control over financial reporting
that occurred during the period covered by this Annual Report on Form&nbsp;10-K that has materially affected, or is reasonably likely to materially affect, the Company's internal control
over financial reporting. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>Management's Annual Report on Internal Control Over Financial Reporting  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control system was
designed to provide reasonable assurance to management and the board of directors regarding the effectiveness of our internal control processes over the preparation and fair presentation of published
financial statements. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined effective can provide only reasonable assurance with
respect to financial statement preparation and presentation. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have assessed the effectiveness of our internal controls over financial reporting as of December&nbsp;31, 2011. In making this assessment, we used the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control&#151;Integrated Framework. Based on our assessment, we believe that, as of December&nbsp;31, 2011,
our internal control over financial reporting is effective based on those criteria. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
annual report does not include an attestation report of the Company's independent registered public accounting firm regarding internal control over financial reporting. Management's
report was not subject to attestation by the Company's independent registered public accounting firm pursuant to the rules of the Securities and Exchange Commission that permit the Company to provide
only management's report in this annual report. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="ga43901_item_9b._other_information"> </A>
ITEM 9B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OTHER INFORMATION    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>37</FONT></P>

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<A NAME="page_ga43901_1_38"> </A>

<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ga43901_part_iii"> </A>
<BR></FONT><FONT SIZE=2><B>  PART III    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="ga43901_item_10._directors_and_executi__ite03239"> </A>
ITEM 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT AND CORPORATE GOVERNANCE    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information regarding the directors and executive officers of the Registrant will be included in the Registrant's 2011 proxy statement to be filed with the
Securities and Exchange Commission within 120&nbsp;days after December&nbsp;31, 2011, the end of our fiscal year, and said portions of the proxy statement are incorporated herein by reference. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="ga43901_item_11._executive_compensation"> </A>
ITEM 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXECUTIVE COMPENSATION    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information regarding executive compensation of the Registrant will be included in the Registrant's 2011 proxy statements to be filed with the Securities and
Exchange Commission within 120&nbsp;days after December&nbsp;31, 2011, the end of our fiscal year, and said portions of the proxy statement are incorporated herein by reference. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="ga43901_item_12._security_ownership_of__ite02706"> </A>
ITEM 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT    <BR>    </B></FONT></P>


<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information regarding security ownership of certain beneficial owners and management of the Registrant will be included in the Registrant's 2011 proxy statements
to be filed with the Securities and Exchange Commission within 120&nbsp;days after December&nbsp;31, 2011, the end of our fiscal year, and said portions of the proxy statements are incorporated
herein by reference. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Information
regarding executive compensation plans (including individual compensation arrangements) as of the end of the last fiscal year, on two categories of equity compensation plans
(that is, plans that have been approved by security holders and plans that have not been approved by security holders) will be included in the Registrant's 2011 proxy statements to be filed with the
Securities and Exchange Commission within 120&nbsp;days after December&nbsp;31, 2011, the end of our fiscal year, and said portions of the proxy statements are incorporated herein by reference. </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table provides information about our equity compensation plans (including individual compensation arrangements) as of December&nbsp;31, 2011. </FONT></P>
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<TD WIDTH="12pt" style="font-family:arial;"></TD>
<TD WIDTH="8pt" ALIGN="RIGHT" style="font-family:arial;"></TD>
<TD WIDTH="78pt" style="font-family:arial;"></TD>
<TD WIDTH="12pt" style="font-family:arial;"></TD>
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<TR VALIGN="BOTTOM">
<TH NOWRAP  ALIGN="LEFT" style="font-family:arial;"><DIV style="border-bottom:solid #000000 1.0pt;margin-bottom:0pt;width:42pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Plan category

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 </B></FONT></DIV></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number of<BR>
securities to be<BR>
issued upon<BR>
the exercise of<BR>
outstanding<BR>
options, warrants<BR>
and rights(1) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Weighted-average<BR>
exercise price of<BR>
outstanding options,<BR>
warrants and rights </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Number of<BR>
securities<BR>
remaining<BR>
available for<BR>
future issuance<BR>
under equity<BR>
compensation<BR>
plans (excluding<BR>
securities reflected in the first column)(2) </B></FONT></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity compensation plans approved by security holders</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>623,600</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7.33</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>201,500</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR BGCOLOR="White" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Equity compensation plans not approved by security holders</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>0</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:solid #000000 1.0pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
<TR BGCOLOR="#CCEEFF" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;"><p style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Total</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>623,600</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT"  VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>$</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>7.33</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>201,500</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR style="font-size:1.5pt;" VALIGN="TOP">
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
<TD COLSPAN=2 ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;border-bottom:double #000000 2.25pt;">&nbsp;</TD>
<TD VALIGN="BOTTOM" style="font-family:arial;">&nbsp;</TD>
</TR>
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<DIV style="padding:0pt;position:relative;text-align:left;margin-left:10%;">
 <DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(1)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Represents
common shares issuable upon the exercise of outstanding options granted under our 1992 Employee Stock Incentive Plan (the "1992 Plan"), the 2003
Stock Option Plan (the "2003 Plan"), the 2005 Incentive Compensation Plan (the "2005 Plan") and the 2007 FOCUS Incentive Compensation Plan (the "2007 Plan").
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>(2)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Represents
common shares remaining available for issuance under the 2005 and 2007 Plans. The Board of Directors terminated the 2007 Plan effective
January&nbsp;19, 2012 and as a result only 29,000 options remain available for future issuance under equity compensation plans as of March&nbsp;9, 2012. </FONT></DD></DL>
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 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>38</FONT></P>

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<P style="font-family:arial;"><FONT SIZE=2><A
HREF="#bg43901a_main_toc">Table of Contents</A></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="ga43901_item_13._certain_relat__ga402108"> </A>
ITEM 13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information required by this Item will be included in the Registrant's 2011 proxy statements to be filed with the Securities and Exchange Commission within
120&nbsp;days after December&nbsp;31, 2011, the end of our fiscal year, and said portions of the proxy statements are incorporated herin by reference. </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="ga43901_item_14._principal_accountant_fees_and_services"> </A>
ITEM 14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PRINCIPAL ACCOUNTANT FEES AND SERVICES    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information required by this Item will be included in the Registrant's 2011 proxy statements to be filed with the Securities and Exchange Commission within
120&nbsp;days after December&nbsp;31, 2011, the end of our fiscal year, and said portions of the proxy statement are incorporated herin by reference. </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ga43901_part_iv"> </A>
<BR></FONT><FONT SIZE=2><B>  PART IV    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="ga43901_item_15._exhibits,_consolidate__ite02289"> </A>
ITEM 15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS, CONSOLIDATED FINANCIAL STATEMENTS SCHEDULES    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B> <A NAME="GA43901_TOC"></A>  </B></FONT></P>
<P style="font-family:arial;"><FONT SIZE=2><B>

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<TD style="font-family:arial;"><p style="font-family:arial;margin-left:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>(a)1.</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=4 style="font-family:arial;"><FONT SIZE=2>Consolidated Financial Statements&#151;Consolidated Financial Statements and related Notes are included in Part&nbsp;II, Item&nbsp;8, and are identified in the Index on Page&nbsp;22.</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD style="font-family:arial;"><p style="font-family:arial;margin-top:12pt;margin-left:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>(a)2.</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=4 style="font-family:arial;"><p align=left style="font-family:arial;margin-top:12pt;margin-left:0pt;text-indent:0pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Financial Statement Schedule&#151;The following financial statement schedule and the Auditors' report thereon is
included in this Annual Report on Form&nbsp;10-K:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
<TH COLSPAN=2 ALIGN="CENTER" style="font-family:arial;border-bottom:solid #000000 1.0pt;"><FONT  style="font-size:8pt;line-height:9pt;"><B>Page </B></FONT></TH>
<TH style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TH>
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<TD style="font-family:arial;"><p style="font-family:arial;margin-left:0pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:arial;"><p align=left style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Report of Independent Registered Public Accounting Firm on Supplementary Information</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> 35</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:arial;"><p style="font-family:arial;margin-left:0pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:arial;"><p align=left style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>Consolidated Financial Statement Schedule for the years ended December&nbsp;31, 2011 and 2010:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD style="font-family:arial;"><p style="font-family:arial;margin-left:0pt;"><FONT SIZE=2> </FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3 style="font-family:arial;"><p align=left style="font-family:arial;margin-left:10pt;text-indent:-10pt;"><FONT SIZE=2> </FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Schedule&nbsp;II Valuation and Qualifying Accounts</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="RIGHT" VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2> 36</FONT></TD>
<TD VALIGN="BOTTOM" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
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<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
other schedules are omitted because the required information is inapplicable or the information is presented in the consolidated financial statements or related notes. </FONT></P>
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<TD style="font-family:arial;"><FONT SIZE=2>(a)3.</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2> The following exhibits are incorporated herein by reference:</FONT></TD>
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<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>23.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2> Consent of McGladrey&nbsp;&amp; Pullen,&nbsp;LLP.</FONT></TD>
</TR>
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<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>31.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2> Certification of the Chief Executive Officer pursuant to Rule&nbsp;13a-14(a) and Rule&nbsp;15d-14(a), promulgated under the Securities Exchange Act of 1934, as amended.</FONT></TD>
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<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>31.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2> Certification of the Chief Financial Officer pursuant to Rule&nbsp;13a-14(a) and Rule&nbsp;15d-14(a), promulgated under the Securities Exchange Act of 1934, as amended.</FONT></TD>
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<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>32.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2> Certification of the Chief Executive Officer and Chief Financial Officer, as adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002.</FONT></TD>
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 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>39</FONT></P>

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</FONT> <FONT SIZE=2>
<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><A
NAME="Signatures"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> SIGNATURES  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of Section&nbsp;13 or 15(d) 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>
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<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2> NORTECH SYSTEMS INCORPORATED</FONT></TD>
</TR>
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<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
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<TD style="font-family:arial;"><FONT SIZE=2>March 9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>/s/ </FONT><FONT SIZE=2><I>R</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>ICHARD </I></FONT><FONT SIZE=2><I>G. W</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>ASIELEWSKI</I></FONT><FONT SIZE=2><BR>



<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Richard G. Wasielewski<BR></FONT> <FONT SIZE=2><I>Chief Financial Officer and<BR>
Principal Accounting Officer</I></FONT></TD>
</TR>
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<TD style="font-family:arial;"><BR><FONT SIZE=2>March 9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>/s/ </FONT><FONT SIZE=2><I>M</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>ICHAEL </I></FONT><FONT SIZE=2><I>J. D</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>EGEN</I></FONT><FONT SIZE=2><BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Michael J. Degen<BR></FONT> <FONT SIZE=2><I>President, Chief Executive<BR>
Officer and Director</I></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD COLSPAN=3 VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the following persons on behalf of the registrant and in the capacities and on the dates indicated have signed this
report.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>March 9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>/s/ </FONT><FONT SIZE=2><I>M</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>ICHAEL </I></FONT><FONT SIZE=2><I>J. D</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>EGEN</I></FONT><FONT SIZE=2><BR>



<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Michael J. Degen<BR></FONT> <FONT SIZE=2><I>President, Chief Executive<BR>
Officer and Director</I></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>March 9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>/s/ </FONT><FONT SIZE=2><I>M</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>YRON </I></FONT><FONT SIZE=2><I>K</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>UNIN</I></FONT><FONT SIZE=2><BR>


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</FONT> <FONT SIZE=2> Myron Kunin<BR></FONT> <FONT SIZE=2><I>Chairman and Director</I></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>March 9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>/s/ </FONT><FONT SIZE=2><I>R</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>ICHARD </I></FONT><FONT SIZE=2><I>W. P</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>ERKINS</I></FONT><FONT SIZE=2><BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Richard W. Perkins,<BR></FONT> <FONT SIZE=2><I>Director</I></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>March 9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>/s/ </FONT><FONT SIZE=2><I>C. T</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>RENT </I></FONT><FONT SIZE=2><I>R</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>ILEY</I></FONT><FONT SIZE=2><BR>



<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> C. Trent Riley,<BR></FONT> <FONT SIZE=2><I>Director</I></FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><BR><FONT SIZE=2>March 9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>/s/ </FONT><FONT SIZE=2><I>K</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>EN </I></FONT><FONT SIZE=2><I>L</I></FONT><FONT  style="font-size:8pt;line-height:9pt;"><I>ARSON</I></FONT><FONT SIZE=2><BR>


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</FONT> <FONT SIZE=2> Ken Larson,<BR></FONT> <FONT SIZE=2><I>Director</I></FONT></TD>
</TR>
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</FONT> <FONT SIZE=2>
<A HREF="#bg43901a_main_toc">Table of Contents</A> </FONT></P>


<P style="font-family:arial;"><FONT SIZE=2><A
NAME="INDEX"></A> </FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> INDEX TO EXHIBITS  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2><B>DESCRIPTIONS OF EXHIBITS  </B></FONT></P>
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<TD ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>23.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>Consent of McGladrey&nbsp;&amp; Pullen,&nbsp;LLP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>31.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Certification of the Chief Executive Officer pursuant to Rule&nbsp;13a-14(a) and Rule&nbsp;15d-14(a), promulgated under the Securities Exchange Act of 1934, as amended.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>31.2</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Certification of the Chief Financial Officer pursuant to Rule&nbsp;13a-14(a) and Rule&nbsp;15d-14(a), promulgated under the Securities Exchange Act of 1934, as amended.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD ALIGN="CENTER" style="font-family:arial;"><BR><FONT SIZE=2>32.1</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><BR><FONT SIZE=2>Certification of the Chief Executive Officer and Chief Financial Officer, as adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002.</FONT></TD>
</TR>
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 <P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2>41</FONT></P>

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<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>a2207776zex-23_1.htm
<DESCRIPTION>EX-23.1
<TEXT>
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<P ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><A
NAME="ke43901_exhibit_23.1"> </A>
<A NAME="toc_ke43901_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBIT 23.1    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><B> CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM  </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We consent to the incorporation by reference in Registration Statement (Nos.&nbsp;33-80906, 33-66246, and
333-145819) of Nortech Systems Incorporated on Form&nbsp;S-8 of our reports dated March&nbsp;9, 2012 relating to our audit of the consolidated financial statements and the
financial statement schedule which appear in this Annual Report on Form&nbsp;10-K of Nortech Systems Incorporated for the year ended December&nbsp;31, 2011. </FONT></P>
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<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>/s/&nbsp;MCGLADREY &amp; PULLEN, LLP<BR>


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</FONT>
 </TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD VALIGN="TOP" style="font-family:arial;"><BR><FONT SIZE=2> Minneapolis, Minnesota<BR>
March&nbsp;9, 2012</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD VALIGN="TOP" style="font-family:arial;"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
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<P><br><A NAME="11ZEA43901_2">QuickLinks</A><br></P><!-- TOC_BEGIN -->
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<FONT SIZE=2 style="font-family:arial;"><A HREF="#toc_ke43901_1">EXHIBIT 23.1</A></FONT><BR>
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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>3
<FILENAME>a2207776zex-31_1.htm
<DESCRIPTION>EX-31.1
<TEXT>
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<P ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><A
NAME="kg43901_exhibit_31.1"> </A>
<A NAME="toc_kg43901_1"> </A>
<BR></FONT><FONT SIZE=2><B>Exhibit&nbsp;31.1    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="kg43901_certification"> </A>
<A NAME="toc_kg43901_2"> </A>
<BR></FONT><FONT SIZE=2><B>  Certification    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>I,
Michael J. Degen, certify that: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>I
have reviewed this annual report on Form&nbsp;10-K of Nortech Systems,&nbsp;Inc. and Subsidiary;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Based
on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Based
on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>The
registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules&nbsp;13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules&nbsp;13a-15(f) and
15d-15(f)) for the registrant and have:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>a)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Designed
such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>b)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Designed
such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>c)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Evaluated
the effectiveness of the registrant's disclosure controls and procedures and presented in the report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this report on such evaluation; and
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>d)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Disclosed
in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal
quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over
financial reporting; and
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>The
registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the
registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>a)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>All
significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the registrant's ability to record, process, summarize and report financial information; and
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>b)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Any
fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over
financial reporting. </FONT></DD></DL>
</DD></DL>
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<TH ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
</TR>
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<TD style="font-family:arial;"><FONT SIZE=2>Date: March&nbsp;9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>By:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>/s/&nbsp;MICHAEL J. DEGEN<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Michael J. Degen<BR></FONT> <FONT SIZE=2><I>Chief Executive Officer<BR>
Nortech Systems Incorporated</I></FONT></TD>
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<P><br><A NAME="11ZEA43901_3">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:arial;"><A HREF="#toc_kg43901_1">Exhibit 31.1</A></FONT><BR>
</UL>
<FONT SIZE=2 style="font-family:arial;"><A HREF="#toc_kg43901_2">Certification</A></FONT><BR>
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<TYPE>EX-31.2
<SEQUENCE>4
<FILENAME>a2207776zex-31_2.htm
<DESCRIPTION>EX-31.2
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<P ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><A
NAME="ki43901_exhibit_31.2"> </A>
<A NAME="toc_ki43901_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBIT 31.2    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="ki43901_certification"> </A>
<A NAME="toc_ki43901_2"> </A>
<BR></FONT><FONT SIZE=2><B>  Certification    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>I,
Richard G. Wasielewski, certify that: </FONT></P>

<UL>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>1.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>I
have reviewed this annual report on Form&nbsp;10-K of Nortech Systems,&nbsp;Inc. and Subsidiary;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>2.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Based
on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>3.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Based
on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the
financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>4.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>The
registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules&nbsp;13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules&nbsp;13a-15(f) and
15d-15(f)) for the registrant and have:
<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>a)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Designed
such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>b)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Designed
such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>c)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Evaluated
the effectiveness of the registrant's disclosure controls and procedures and presented in the report our conclusions about the effectiveness of the
disclosure controls and procedures, as of the end of the period covered by this report on such evaluation; and
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>d)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Disclosed
in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal
quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over
financial reporting; and
<BR><BR></FONT></DD></DL>
</DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>5.</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>The
registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the
registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
<BR><BR></FONT>
<DL compact>
<DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>a)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>All
significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the registrant's ability to record, process, summarize and report financial information; and
<BR><BR></FONT></DD><DT style='font-family:arial;margin-bottom:-11pt;'><FONT SIZE=2>b)</FONT></DT><DD style="font-family:arial;"><FONT SIZE=2>Any
fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over
financial reporting. </FONT></DD></DL>
</DD></DL>
</UL>
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<TH ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
</TR>
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<TD style="font-family:arial;"><FONT SIZE=2>Date: March&nbsp;9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>By:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>/s/&nbsp;RICHARD G. WASIELEWSKI<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Richard G. Wasielewski<BR></FONT> <FONT SIZE=2><I>Chief Financial Officer</I></FONT></TD>
</TR>
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<P><br><A NAME="11ZEA43901_4">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:arial;"><A HREF="#toc_ki43901_1">EXHIBIT 31.2</A></FONT><BR>
</UL>
<FONT SIZE=2 style="font-family:arial;"><A HREF="#toc_ki43901_2">Certification</A></FONT><BR>
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<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>5
<FILENAME>a2207776zex-32_1.htm
<DESCRIPTION>EX-32.1
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#11ZEA43901_5">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>

<P style="font-family:arial;"><FONT SIZE=2>


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<P ALIGN="RIGHT" style="font-family:arial;"><FONT SIZE=2><A
NAME="kk43901_exhibit_32.1"> </A>
<A NAME="toc_kk43901_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXHIBIT 32.1    <BR>    </B></FONT></P>

<P ALIGN="CENTER" style="font-family:arial;"><FONT SIZE=2><A
NAME="kk43901_certification_of_chief_executi__cer05925"> </A>
<A NAME="toc_kk43901_2"> </A></FONT> <FONT SIZE=2><B>  CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER<BR>  PURSUANT TO<BR>  18 U.S.C. SECTION&nbsp;1350,<BR>  AS ADOPTED PURSUANT TO<BR>  SECTION&nbsp;906 OF THE SARBANES-OXLEY ACT
OF&nbsp;2002    <BR>    </B></FONT></P>

<P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I, Michael J. Degen, certify, pursuant to 18 U.S.C. Section&nbsp;1350, as adopted pursuant to Section&nbsp;906 of the
Sarbanes-Oxley Act of 2002, that the Annual Report of Nortech Systems Incorporated on Form&nbsp;10-K for the year ended December&nbsp;31, 2011, fully complies with the requirements of
Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934 and that information contained in such Annual Report on Form&nbsp;10-K fairly presents in all material respects the
financial condition and results of operations of Nortech Systems Incorporated. </FONT></P>
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<p style="font-family:arial;"></FONT></P>

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<TH ALIGN="CENTER" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>March&nbsp;9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>By:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>/s/&nbsp;MICHAEL J. DEGEN<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Michael J. Degen<BR></FONT> <FONT SIZE=2><I>Chief Executive Officer<BR>
Nortech Systems Incorporated</I></FONT></TD>
</TR>
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 <P style="font-family:arial;"><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I,
Richard G. Wasielewski, certify, pursuant to 18 U.S.C. Section&nbsp;1350, as adopted pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002, that the Annual Report of
Nortech Systems Incorporated on Form&nbsp;10-K for the year ended December&nbsp;31, 2011, fully complies with the requirements of Section&nbsp;13(a) or 15(d) of the Securities
Exchange Act of 1934 and that information contained in such Annual Report on Form&nbsp;10-K fairly presents in all material respects the financial condition and results of operations of
Nortech Systems Incorporated. </FONT></P>
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<p style="font-family:arial;"></FONT></P>

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<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
<TH style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT></TH>
<TH ALIGN="LEFT" style="font-family:arial;"><FONT  style="font-size:8pt;line-height:9pt;">&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD style="font-family:arial;"><FONT SIZE=2>March&nbsp;9, 2012</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>By:</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD style="font-family:arial;"><FONT SIZE=2>/s/&nbsp;RICHARD G. WASIELEWSKI<BR>


<HR NOSHADE SIZE="1.0pt" WIDTH="100%" COLOR="#000000">

</FONT> <FONT SIZE=2> Richard G. Wasielewski<BR></FONT> <FONT SIZE=2><I>Chief Financial Officer<BR>
Nortech Systems Incorporated</I></FONT></TD>
</TR>
</TABLE></DIV>
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<BR>
<P><br><A NAME="11ZEA43901_5">QuickLinks</A><br></P><!-- TOC_BEGIN -->
<UL>
<FONT SIZE=2 style="font-family:arial;"><A HREF="#toc_kk43901_1">EXHIBIT 32.1</A></FONT><BR>
</UL>
<FONT SIZE=2 style="font-family:arial;"><A HREF="#toc_kk43901_2">CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</A></FONT><BR>
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<TYPE>EX-101.INS
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&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;NOTE 1 NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Nature of Business &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We manufacture wire harnesses, cables and electromechanical assemblies, printed circuit boards and higher-level assemblies for a wide range of commercial and defense industries. We provide a full "turn-key" contract manufacturing service to our customers. All products are built to the customer's design specifications. We also provide engineering services separate from the manufacture of a product and repair service on circuit boards used in machines in the medical industry. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Our manufacturing facilities are located in Bemidji, Blue Earth, Merrifield, Milaca, Mankato and Baxter, Minnesota as well as Augusta, Wisconsin and Monterrey, Mexico. Products are sold to customers both domestically and internationally. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;A summary of our significant accounting policies follows: &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Principles of Consolidation &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The consolidated financial statements include the accounts of our wholly owned subsidiary, Manufacturing Assembly Solutions of Monterrey,&amp;#160;Inc. All significant intercompany accounts and transactions have been eliminated. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Use of Estimates &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our consolidated financial statements. Estimates also affect the reported amounts of revenue and expense during the reporting period. Significant items subject to estimates and assumptions include the valuation allowance for inventories, allowance for doubtful accounts, realizability of deferred tax assets and fair value of acquired assets and assumed liabilities. Actual results could differ from those estimates. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Cash &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;For purposes of reporting cash flows, we consider cash to be short-term, highly liquid interest-bearing accounts readily convertible to cash and whose original maturity is three months or less. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Accounts Receivable and Allowance for Doubtful Accounts &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We grant credit to customers in the normal course of business. Accounts receivable are unsecured and are presented net of an allowance for uncollectible accounts. The allowance for uncollectible accounts was $122,000 and $86,000 at December&amp;#160;31, 2011 and 2010, respectively. We determine our allowance by considering a number of factors, including the length of time accounts receivable are past due, our previous loss history, the customers' current ability to pay their obligations to us, and the condition of the general economy and the industry as a whole. We write-off accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for uncollectible accounts. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Inventories &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Inventories are stated at the lower of cost (first-in, first-out method) or market (based on the lower of replacement cost or net realizable value). Costs include material, labor, and overhead required in the warehousing and production of our products. Inventory reserves are maintained for the estimated value of the inventory that may have a lower value than stated or quantities in excess of future production needs. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Inventories are as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="7"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="7"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Raw materials&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;13,056,955&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;11,277,741&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Work in process&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;3,202,002&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;3,477,236&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Finished goods&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;3,880,764&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;2,395,843&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Reserves&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(1,110,128&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(1,042,047&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;19,029,593&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;16,108,773&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Property, Equipment and Depreciation &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Property and equipment are stated at cost less accumulated depreciation. Additions, improvements and major renewals are capitalized, while maintenance, repairs and minor renewals are expensed as incurred. When assets are retired or disposed of, the assets and related accumulated depreciation are removed from the accounts and the resulting gain or loss is reflected in operations. Leasehold improvements are depreciated over the shorter of their estimated use lives or their remaining lease terms. All other property and equipment are depreciated by the straight-line method over their estimated useful lives, as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="56"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Buildings&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;39 Years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Leasehold improvements&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;3-7 Years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Manufacturing equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;3-7 Years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Office and other equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;3-7 Years&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Property and equipment at December&amp;#160;31, 2011 and 2010: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="7"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="77"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="7"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="77"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Land&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;260,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;260,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Building and Leasehold Improvements&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;6,370,570&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;6,316,133&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Manufacturing Equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;14,156,261&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;11,816,653&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Office and Other Equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;4,240,137&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;3,523,526&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Accumulated Depreciation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(15,943,094&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(14,758,769&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net Property and Equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;9,083,874&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;7,157,543&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Assets Held for Sale &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Assets held for sale consist of property related to closed facilities that are currently being marketed for disposal. Assets held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell. At December&amp;#160;31, 2011, land of $12,500 and one building, net of accumulated depreciation, of $244,003 are classified as held for sale and shown in Other Assets on the balance sheet. At December&amp;#160;31, 2010, land of $27,000 and two buildings, net of accumulated depreciation, of $405,000 were classified as held for sale and shown in Other Assets on the balance sheet. We recognized impairment charges of $53,000 and $56,000 related to one of these buildings during the years ended December&amp;#160;31, 2011 and 2010, respectively. The sale of this building was finalized December&amp;#160;15, 2011. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Finite Life Intangible Assets &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Finite life intangible assets are primarily related to acquired customer base and bond issuance costs and are amortized on a straight-line basis over their estimated useful lives. Finite life intangible assets at December&amp;#160;31, 2011 and 2010 are as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="42"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="11"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;December&amp;#160;31, 2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Remaining&lt;br /&gt;
Lives&lt;br /&gt;
(Years) &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Gross&lt;br /&gt;
Carrying&lt;br /&gt;
Amount &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Accumulated&lt;br /&gt;
Amortization&lt;br /&gt;
Amount &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Net Book&lt;br /&gt;
Value&lt;br /&gt;
Amount &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Bond Issue Costs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;10&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;79,373&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;29,105&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;50,268&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Customer Base&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;676,557&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;665,278&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;11,279&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Totals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;755,930&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;694,383&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;61,547&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;br /&gt;&lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="42"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="11"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;December&amp;#160;31, 2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Remaining&lt;br /&gt;
Lives&lt;br /&gt;
(Years) &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Gross&lt;br /&gt;
Carrying&lt;br /&gt;
Amount &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Accumulated&lt;br /&gt;
Amortization&lt;br /&gt;
Amount &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Net Book&lt;br /&gt;
Value&lt;br /&gt;
Amount &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Bond Issue Costs&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;11&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;79,373&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;23,814&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;55,559&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Customer Base&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;2&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;676,557&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;529,966&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;146,591&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Other intangibles&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;0&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;28,560&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;28,560&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Totals&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;784,490&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;582,340&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;202,150&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Amortization expense related to these assets was as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="7"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="56"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Year ended December&amp;#160;31, 2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;140,603&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Year ended December&amp;#160;31, 2010&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;141,399&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Estimated future annual amortization expense related to these assets for the years ending December&amp;#160;31, is as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="7"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="56"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;17,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;5,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;5,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;5,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;5,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Thereafter&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;25,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;62,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Impairment Analysis &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We evaluate property and equipment and intangible assets with finite lives for impairment and for propriety of the related amortization periods, to determine whether adjustments to these amounts or useful lives are required based on current events and circumstances. The evaluation is based on our projection of the undiscounted future operating cash flows of the underlying assets. To the extent such projections indicate that future undiscounted cash flows are not sufficient to recover the carrying amounts of related assets, a charge might be required to reduce the carrying amount to the asset's estimated fair value. In 2011 and 2010, we recorded an impairment charge of approximately $53,000 and $56,000, respectively on a building held for sale. The building was sold on December&amp;#160;15, 2011. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Preferred Stock &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Preferred stock issued is non-cumulative and nonconvertible. The holders of the preferred stock are entitled to a non-cumulative dividend of 12% when and as declared. In liquidation, holders of preferred stock have preference to the extent of $1.00 per share plus dividends accrued but unpaid. No preferred stock dividends were declared or paid during the years ended December&amp;#160;31, 2011 and 2010. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Revenue Recognition &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We recognize revenue upon shipment of manufactured products to customers, when title has passed, all contractual obligations have been satisfied and collection of the resulting receivable is reasonably assured. We also provide engineering services separate from the manufacture of a product. Revenue for engineering services, which are short term in nature, is recognized upon completion of the engineering process, providing standalone fair value to our customers. In addition, we have another separate source of revenue that comes from short-term repair services, which are recognized upon completion of the repairs, and the repaired products are shipped back to the customer. Shipping and handling costs charged to our customers are included in net sales, while the corresponding shipping expenses are included in cost of goods sold. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Business Combinations &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We account for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification (ASC) Topic&amp;#160;805, "Business Combinations". We recognize amounts for identifiable assets acquired and liabilities assumed equal to their estimated acquisition date fair values. We hired a third party valuation specialist to determine the value of property and equipment acquired. Transaction and integration costs associated with business combinations are expensed as incurred. Any excess of the acquisition price over the estimated fair value of net assets acquired is recorded as goodwill while any excess of the estimated fair value of net assets acquired over the acquisition price is recorded in current earnings as a gain. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Product Warranties &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We provide limited warranty for the replacement or repair of defective product at no cost to our customers within a specified time period after the sale. We make no other guarantees or warranties, expressed or implied, of any nature whatsoever as to the goods including, without limitation, warranties to merchantability, fit for a particular purpose or non-infringement of patent or the like unless agreed upon in writing. We estimate the costs that may be incurred under our limited warranty and reserve based on actual historical warranty claims coupled with an analysis of unfulfilled claims at the balance sheet date. Our warranty claims costs are not material given the nature of our products and services which normally result in repair and return in the same accounting period. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Advertising &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Advertising costs are charged to operations as incurred. The total amount charged to expense was $157,000 and $167,000 for the years ended December&amp;#160;31, 2011 and 2010, respectively. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Income Taxes &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We account for income taxes under the asset and liability method. Deferred income tax assets and liabilities are recognized annually for differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Fair Value of Financial Instruments &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The carrying amounts of all financial instruments approximate their fair values. The carrying amounts for cash, accounts receivable, accounts payable, accrued liabilities and the line of credit approximate fair value because of the short maturity of these instruments. Based on the borrowing rates currently available to us for bank loans with similar terms and average maturities, the carrying value of our long-term debt approximates its fair value. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The fair value framework requires the categorization of assets and liabilities into one of three levels based on the assumptions (inputs) used in valuing the asset or liability. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Level&amp;#160;1 provides the most reliable measure of fair value, while Level&amp;#160;3 generally requires significant management judgment. The three levels are defined as follows: &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Level&amp;#160;1:&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unadjusted quoted prices in active markets for identical assets or liabilities. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Level&amp;#160;2:&amp;#160;&amp;#160;&amp;#160;&amp;#160;Observable inputs other than quoted prices included in Level&amp;#160;1, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Level&amp;#160;3:&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unobservable inputs reflecting management's own assumptions about the inputs used in pricing the asset or liability. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Our assessment of the significance of a particular input to the fair value measurements requires judgment, and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. We endeavor to use the best available information in measuring fair value. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As of December&amp;#160;31, 2010, our only asset or liability accounted for at fair value was our interest rate swap which was included in Other Long-Term Liabilities. The interest rate swap expired in 2011. We determined that the fair value of the swap, based on LIBOR and swap rates, fell within Level&amp;#160;2 in the fair value hierarchy. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Stock-Based Compensation &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We account for stock-based compensation in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification 718, &lt;/font&gt;&lt;font size="2"&gt;&lt;i&gt;Compensation&amp;#8212;Stock Compensation.&lt;/i&gt;&lt;/font&gt;&lt;font size="2"&gt; Stock-based compensation expense was $27,000 ($.01 per diluted common share) for 2011 and $32,000 ($.01 per diluted common share) for 2010. See Note&amp;#160;7 for additional information. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Derivative Financial Instruments &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On June&amp;#160;28, 2006, we entered into an interest rate swap agreement to effectively convert our industrial revenue bond debt from a variable rate to a fixed rate. The swap expired June 2011. The change in market value of an interest rate swap is recognized in the statements of income by a charge or credit to interest expense. Further information related to our interest rate swap is disclosed in Note&amp;#160;3. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Net Income Per Common Share &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Basic net income per common share is computed using the weighted-average number of common shares outstanding. For the years ended December&amp;#160;31, 2011 and 2010, no outstanding options were included in the computation of per-share amounts as the effect of all stock-based awards were antidilutive. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Enterprise-Wide Disclosures &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Our results of operations for the years ended December&amp;#160;31, 2011 and 2010 represent a single reportable segment referred to as Contract Manufacturing within the EMS industry. We strategically direct production between our various manufacturing facilities based on a number of considerations to best meet our customers' requirements. We share resources for sales, marketing, information services, cash and risk management, banking, credit and collections, human resources, payroll, internal control, audit, taxes, SEC reporting and corporate accounting. Consolidated financial information is available that is evaluated regularly by the chief operating decision maker in assessing performance and allocating resources. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Export sales represent approximately 6% of consolidated net sales for each of the years ended December&amp;#160;31, 2011 and 2010. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Net sales by our major EMS industry markets for the year ended December&amp;#160;31, 2011 and 2010 are as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="54"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="5"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Year Ended December&amp;#160;31 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;i&gt;(in thousands)&lt;/i&gt;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Aerospace and Defense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;16,478&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;16,152&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Medical&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;33,378&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;29,329&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Industrial&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;64,380&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;54,339&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Total Net Sales&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;114,236&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;99,820&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Noncurrent assets, excluding deferred taxes, by country are as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;United States &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Mexico &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Total &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net property and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;8,811,273&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;272,601&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;9,083,874&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Other assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;393,056&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;7,726&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;400,782&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-TOP: 12pt; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2010&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net property and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;6,965,816&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;191,727&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;7,157,543&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Other assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;708,659&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;7,726&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;716,385&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Foreign Currency Transactions &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;During the fourth quarter of 2010, we reevaluated the functional currency for our operations in Mexico and determined that the functional currency is the U.S. Dollar. As a result, the Company is no longer recording translation adjustments related to assets and liabilities or income and expense items that are transacted in the local currency as a component of accumulated other comprehensive loss in shareholders' equity. Foreign exchange transaction gains and losses attributable to exchange rate movements related to transactions made in the local currency and on intercompany receivables and payables not deemed to be of a long-term investment nature are recorded in other income (expense).&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:ConcentrationRiskDisclosureTextBlock id="TAG141" contextRef="D2011">&lt;table style="font-size:10pt; font-family:'Times New Roman',times,serif;"&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;NOTE 2 MAJOR CUSTOMERS AND CONCENTRATION OF CREDIT RISK &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and accounts receivable. With regard to cash, we maintain our excess cash balances in checking accounts at one high-credit quality financial institution. These accounts may at times exceed federally insured limits. We do not require collateral on our receivables. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Two divisions of General Electric,&amp;#160;Co. (G.E.) accounted for 10% or more of our net sales during the past two years. G.E.'s Medical Division accounted for 16% and 19% of net sales for the years ended December&amp;#160;31, 2011 and 2010, respectively. G.E.'s Transportation Division accounted for 7% and 8% of net sales for the years ended December&amp;#160;31, 2011 and 2010, respectively. Together, G.E.'s Medical and Transportation Divisions accounted for 23% and 27% of net sales for the years ended December&amp;#160;31, 2011 and 2010, respectively. Accounts receivable from G.E.'s Medical and Transportation Divisions at December&amp;#160;31, 2011 and 2010 represented 17% and 14% of total accounts receivable, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
</us-gaap:ConcentrationRiskDisclosureTextBlock>
  <us-gaap:DebtDisclosureTextBlock id="TAG143" contextRef="D2011">&lt;table style="font-size:10pt; font-family:'Times New Roman',times,serif;"&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;NOTE 3 FINANCING AGREEMENTS &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Our credit agreement with Wells Fargo Bank (WFB) provides for a line of credit arrangement of $13.5&amp;#160;million, which expires on May&amp;#160;31, 2013, if not renewed. The credit arrangement also has a real estate term note with a maturity date of May&amp;#160;31, 2012, and a $475,000 equipment term loan tied to equipment purchased in the Mankato acquisition (Note&amp;#160;9). The $1,009,050 balance of the real estate term note was classified as current at December&amp;#160;31, 2011, however we are in negotiations to finalize and extend our real estate term note prior to maturity. Under the agreement, both the line of credit and real estate term note are subject to variations in the LIBOR rate. Our line of credit bears interest at three-month LIBOR&amp;#160;+&amp;#160;3.00% (3.60% at December&amp;#160;31, 2011) while our real estate term note bears interest at three-month LIBOR&amp;#160;+&amp;#160;3.5% (4.1% at December&amp;#160;31, 2011). The weighted-average interest rate on our line of credit and real estate term note were 3.81% and 4.27%, respectively for the year ended December&amp;#160;31, 2011. We had borrowings on our line of credit of $9,345,044 and $5,615,121 outstanding as of December&amp;#160;31, 2011 and 2010, respectively. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The line of credit and other installment debt with WFB contain certain covenants which, among other things, require us to adhere to regular reporting requirements, abide by annual shareholder dividend limitations, maintain certain financial performance, and limit the amount of annual capital expenditures. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The availability under the line is subject to borrowing base requirements, and advances are at the discretion of the lender. At December&amp;#160;31, 2011, we have net unused availability under our line of credit of approximately $3.9&amp;#160;million. The line is secured by substantially all of our assets. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;A summary of long-term debt balances at December&amp;#160;31, 2011 and 2010 is as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 648px; HEIGHT: 255px" cellspacing="0" cellpadding="0" width="648" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="78"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" nowrap="nowrap" align="left"&gt;
&lt;div style="MARGIN-BOTTOM: 0pt; WIDTH: 34pt; BORDER-BOTTOM: #000000 1pt solid"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Description &lt;!-- COMMAND=ADD_SCROPPEDRULE,34pt --&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Term notes payable&amp;#8212;Wells Fargo Bank, N.A.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Real estate term note&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;1,009,050&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;1,354,568&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Equipment notes bearing interest at three month LIBOR&amp;#160;+&amp;#160;4.5% (approx. 5.1%) and 4.95%, maturing May 2013 and May 2012, respectively with combined monthly payments of approximately $42,000 plus interest; secured by substantially all assets.&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;514,077&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;493,510&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Industrial revenue bond payable to the City of Blue Earth, Minnesota which bears a variable interest rate (approx. 0.4% at December&amp;#160;31, 2011), and has a maturity date of June&amp;#160;1, 2021, with principal of $80,000 payable annually on June&amp;#160;1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;600,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;725,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 30pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Total long-term debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;2,123,127&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;2,573,078&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 40pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Current maturities of long-term debt&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;(1,310,210&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;(841,760&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 30pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Long-term debt&amp;#8212;net of current maturities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;812,917&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;1,731,318&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Future maturity requirements for long-term debt are as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 608px; HEIGHT: 159px" cellspacing="0" cellpadding="0" width="608" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" nowrap="nowrap" align="left"&gt;
&lt;div style="MARGIN-BOTTOM: 0pt; WIDTH: 81pt; BORDER-BOTTOM: #000000 1pt solid"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Years Ending December&amp;#160;31, &lt;!-- COMMAND=ADD_SCROPPEDRULE,81pt --&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Amount &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,310,210&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;372,917&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;80,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;80,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;80,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Future&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;200,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;2,123,127&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On June&amp;#160;28, 2006, we entered into an interest rate swap agreement with a notional amount of $1,440,000 to effectively convert our industrial revenue bond debt from a variable rate to a fixed rate of 4.07% for five years, which expired in June 2011. We did not use this interest rate swap for speculative purposes. The fair value of the swap of $18,140 was recorded in Other Long-Term Liabilities at December&amp;#160;31, 2010. The change in the fair value of ($18,140) and ($27,772) for the years ended December&amp;#160;31, 2011 and 2010, respectively was recorded as a component of interest expense.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:IncomeTaxDisclosureTextBlock id="TAG144" contextRef="D2011">&lt;table style="font-size:10pt; font-family:'Times New Roman',times,serif;"&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;NOTE 4 INCOME TAXES &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The income tax expense for the years ended December&amp;#160;31, 2011 and 2010 consists of the following: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 541px; HEIGHT: 134px" cellspacing="0" cellpadding="0" width="541" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Current taxes&amp;#8212;Federal&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;273,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;128,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Current taxes&amp;#8212;State&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(13,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(41,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Current taxes&amp;#8212;Foreign&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;23,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;19,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Deferred taxes&amp;#8212;Federal&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;223,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;253,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Deferred taxes&amp;#8212;State&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;55,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;16,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Income tax expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;561,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;375,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The statutory rate reconciliation for the years ended December&amp;#160;31, 2011 and 2010 is as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 553px; HEIGHT: 149px" cellspacing="0" cellpadding="0" width="553" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Statutory federal tax provision&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;595,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;298,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;State income taxes&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;52,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;34,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Effect of foreign operations&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(6,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(5,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Income tax credits&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(66,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(95,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;NOL carryback true up&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;4,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;106,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Other, including benefit of income taxed at lower rates&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(18,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;37,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Income tax expense&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;561,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;375,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Income from operations before income taxes was derived from the following sources: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Domestic&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,666,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;820,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Foreign&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;85,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;62,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,751,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;882,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Deferred tax assets (liabilities) at December&amp;#160;31, 2011 and 2010, consist of the following: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 557px; HEIGHT: 232px" cellspacing="0" cellpadding="0" width="557" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="78"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Allowance for uncollectable accounts&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;45,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;31,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Inventories reserve&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;408,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;383,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Accrued vacation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;352,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;308,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Health insurance reserve&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;13,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Non-compete amortization&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;390,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;397,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Stock-based compensation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;69,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;59,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Other&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;393,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;425,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Deferred tax assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,657,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,616,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Prepaid expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(200,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(211,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Property and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(923,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(592,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Deferred tax liabilities&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(1,123,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(803,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net deferred tax assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;534,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;813,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The net deferred taxes summarized above have been classified on the accompanying consolidated balance sheets as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 549px; HEIGHT: 52px" cellspacing="0" cellpadding="0" width="549" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="67"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net current deferred tax assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;805,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;594,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net non-current deferred tax assets (liabilities)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;(271,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;219,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net deferred tax assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;534,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;813,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We have determined that it is more likely than not that our deferred tax assets will be realized, principally through anticipated taxable income in future tax years. As a result, we have determined that establishing a valuation allowance on our deferred tax assets is not necessary. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The tax effects from an uncertain tax position can be recognized in our consolidated financial statements, only if the position is more likely than not to be sustained on audit, based on the technical merits of the position. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50&amp;#160;percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The following table sets forth changes in our total gross unrecognized tax benefit liabilities, excluding accrued interest, for the year ended December&amp;#160;31, 2011: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 584px; HEIGHT: 154px" cellspacing="0" cellpadding="0" width="584" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Balance as of December&amp;#160;31, 2009&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;115,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Tax positions related to current year:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Additions&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;27,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Reductions&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;(28,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Balance as of December&amp;#160;31, 2010&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;114,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Tax positions related to current year:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Additions&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;100,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Reductions&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;(96,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Balance as of December&amp;#160;31, 2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;118,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The $118,000 of unrecognized tax benefits as of December&amp;#160;31, 2011 includes amounts which, if ultimately recognized, will reduce our annual effective tax rate. It is included in Other Long-Term Liabilities on the accompanying consolidated balance sheets. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Our policy is to accrue interest related to potential underpayment of income taxes within the provision for income taxes. The liability for accrued interest as of December&amp;#160;31, 2011 was not significant. Interest is computed on the difference between our uncertain tax benefit positions and the amount deducted or expected to be deducted in our tax returns. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We are subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;With few exceptions, we are no longer subject to U.S. federal, state or local income tax examinations by tax authorities for the years before 2008.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:ComprehensiveIncomeNoteTextBlock id="TAG145" contextRef="D2011">&lt;table style="font-size:10pt; font-family:'Times New Roman',times,serif;"&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;NOTE 5 COMPREHENSIVE INCOME &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Comprehensive income is comprised of net income and other comprehensive income. Other comprehensive income includes income or losses resulting from foreign currency translations recognized prior to 2011. The details of comprehensive income are as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 585px; HEIGHT: 81px" cellspacing="0" cellpadding="0" width="585" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="61"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Year Ended&lt;br /&gt;
December&amp;#160;31&lt;br /&gt;
2011 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Year Ended&lt;br /&gt;
December&amp;#160;31&lt;br /&gt;
2010 &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net income, as reported&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,189,930&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;506,766&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Other comprehensive income&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;10,973&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Comprehensive income&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,189,930&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;517,739&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
</us-gaap:ComprehensiveIncomeNoteTextBlock>
  <us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock id="TAG146" contextRef="D2011">&lt;table style="font-size:10pt; font-family:'Times New Roman',times,serif;"&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;NOTE 6 401(K) RETIREMENT PLAN &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We have a 401(k) profit sharing plan (the "Plan") for our employees. The Plan is a defined contribution plan covering substantially all of our U.S. employees. Employees are eligible to participate in the Plan after completing three months of service and attaining the age of 18. Employees are allowed to contribute up to 60% of their wages to the Plan. Historically we have matched 25% of the employees' contribution up to 6% of covered compensation. We suspended this benefit from the second quarter of 2009 thru June 2010, at which time the match was reinstated. We made contributions of approximately $196,000 and $79,000 during the years ended December&amp;#160;31, 2011 and 2010, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
</us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock id="TAG147" contextRef="D2011">&lt;table style="font-size:10pt; font-family:'Times New Roman',times,serif;"&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;NOTE 7 INCENTIVE PLANS &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Employee Profit Sharing &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;During 1993, we adopted an employee profit sharing plan (the "Plan"). The purpose of the Plan is to provide a bonus for increased output, improved quality and productivity and reduced costs. We have authorized 50,000 common shares to be available under this Plan. In accordance with the terms of the Plan, employees could acquire newly issued shares of common stock for 90% of the current market value. During 2011 and 2010 no common shares were issued in connection with this plan. Through December&amp;#160;31, 2011, 22,118 common shares had been issued under this Plan. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Stock Options &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In 1992, we approved the adoption of a fixed stock based compensation plan. In February 2003, we reached the maximum options allowed to be granted under that plan. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;During 2003, our shareholders approved the adoption of the Nortech Systems Incorporated 2003 Stock Option Plan (the "2003 Plan"). On May&amp;#160;3, 2005, the shareholders approved the 2005 Incentive Compensation Plan (the "2005 Plan") and eliminated the remaining 172,500 option shares available for grant under the 2003 Plan effective February&amp;#160;23, 2005. The total number of shares of common stock that may be granted under the 2005 Plan is 200,000, of which 29,000 remain available for grant at December&amp;#160;31, 2011. The 2005 Plan provides that option shares granted come from our authorized but unissued common stock. The price of the option shares granted under the plan will not be less than 100% of the fair market value of the common shares on the date of grant. Options are generally exercisable after one or more years and expire no later than 10&amp;#160;years from the date of grant. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;During 2007, the Board of Directors approved the adoption of the FOCUS Incentive Plan (the "2007 Plan"). The purpose of the 2007 Plan was to provide incentives to our employees to increase our return on sales "ROS" performance measurement. The FOCUS plan was unique from the preceding Plans in that vesting of options was conditional upon our achievement of established performance measurements. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;As these performance measures were not met, no options granted under this Plan will ever vest. Effective January&amp;#160;19, 2012, the Board of Directors terminated the 2007 Plan and as a result all outstanding options from this plan were cancelled. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We estimate the fair value of share-based awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the consolidated statements of income over the requisite service periods. Because share-based compensation expense is based on awards that are ultimately expected to vest, share-based compensation expense will be reduced to account for estimated forfeitures. We estimate forfeitures at the time of grant and revise the estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We used the Black-Scholes option-pricing model to calculate the fair value of option-based awards. Our determination of fair value of option-based awards on the date of grant using the Black-Scholes model is affected by our stock price as well as assumptions regarding a number of subjective variables as noted in the following table. These variables include, but are not limited to, our expected stock price volatility over the term of the awards, risk-free interest rate, and the expected life of the options. The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected life of our stock options. The expected volatility and holding period are based on our historical experience. For all grants, the amount of compensation expense recognized has been adjusted for an estimated forfeiture rate, which is based on historical data. There were no grants during the years ended December&amp;#160;31, 2011 and 2010. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Stock Options with Time-Based Vesting &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Total compensation expense related to stock options with time-based vesting for the years ended December&amp;#160;31, 2011 and 2010 was $27,044 and $31,728, respectively. As of December&amp;#160;31, 2011 there was no unrecognized compensation expense related to unvested option awards. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;A summary of option activity under all plans as of December&amp;#160;31, 2011, and changes during the year then ended is presented below. &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 616px; HEIGHT: 129px" cellspacing="0" cellpadding="0" width="616" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="54"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="41"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="47"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="46"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Options &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Weighted-&lt;br /&gt;
Average&lt;br /&gt;
Exercise&lt;br /&gt;
Price Per&lt;br /&gt;
Share &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Weighted-&lt;br /&gt;
Average&lt;br /&gt;
Remaining&lt;br /&gt;
Contractual&lt;br /&gt;
Term&lt;br /&gt;
(in years) &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Aggregate&lt;br /&gt;
Intrinsic&lt;br /&gt;
Value &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Outstanding&amp;#8212;January&amp;#160;1, 2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;663,150&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;7.32&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Forfeited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(39,550&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;7.28&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Outstanding&amp;#8212;December&amp;#160;31, 2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;623,600&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;7.33&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;4.55&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Exercisable on December&amp;#160;31, 2011&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;304,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;7.21&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;3.46&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;There were no grants during the years ended December&amp;#160;31, 2011 and 2010. The weighted average fair value of options vested during the years ended December&amp;#160;31, 2011 and 2010 were $2.64 and $3.69, respectively. The total intrinsic value of options exercised during the year ended December&amp;#160;31, 2010 was $20. There were no options exercised for the year ended December&amp;#160;31, 2011. Cash received from options exercised under all share-based payment arrangements for the years ended December&amp;#160;31, 2010 was $12,500. We recognize the tax benefit from the exercise of options in the statement of cash flows as a cash inflow from financing activities. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Equity Appreciation Rights Plan &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In November 2010, the Board of Directors approved the adoption of the Nortech Systems Incorporated Equity Appreciation Rights Plan (the "2010 Plan"). The total number of Equity Appreciation Right Units (Units) the Plan can issue shall not exceed an aggregate of 750,000 Units, of which 100,000 Units were issued during the year ended December&amp;#160;31, 2010. There were no additional Units granted during the year ended December&amp;#160;31, 2011. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The 2010 Plan provides that Units issued shall fully vest three years from the grant date unless terminated earlier. Units give the holder a right to receive a cash payment equal to the appreciation in book value per share of common stock from the base date, as defined, to the redemption date. Unit redemption payments under this plan shall be paid in cash within 90&amp;#160;days after we determine the book value of the Units as of the calendar year immediately preceding the redemption date. The Units issued during the year ended December&amp;#160;31, 2010 have a book value per Unit of $6.84 and have a weighted average life remaining of one year at December&amp;#160;31, 2011. Total compensation expense related to these Units based on the estimated appreciation over their remaining term for the years ended December&amp;#160;31, 2011 and 2010 was $57,000 and $5,000, respectively.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock id="TAG148" contextRef="D2011">&lt;table style="font-size:10pt; font-family:'Times New Roman',times,serif;"&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;NOTE 8 COMMITMENTS AND CONTINGENCIES &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Operating Leases &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We have various operating leases for production and office equipment, office space, and buildings under non-cancelable lease agreements expiring on various dates through 2017. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Rent expense for the years ended December&amp;#160;31, 2011 and 2010 amounted to approximately $1,006,000 and $914,000 respectively. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Approximate future minimum lease payments under non-cancelable leases are as follows: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table cellspacing="0" cellpadding="0" width="100%" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" nowrap="nowrap" align="left"&gt;
&lt;div style="MARGIN-BOTTOM: 0pt; WIDTH: 91pt; BORDER-BOTTOM: #000000 1pt solid"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Years Ending December&amp;#160;31, &lt;!-- COMMAND=ADD_SCROPPEDRULE,91pt --&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Amount &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2012&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;750,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;625,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;477,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;415,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;335,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Thereafter&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;336,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;2,938,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Litigation &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We are subject to various legal proceedings and claims that arise in the ordinary course of business. In our opinion, the amount of any ultimate liability with respect to these actions will not materially affect our consolidated financial statements or results of operations. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Executive Life Insurance Plan &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;During 2002, we set up an Executive Bonus Life Insurance Plan (the "Plan") for our key employees ("participants"). Pursuant to the Plan, we will pay a bonus to officer participants of 15% and a bonus to all other participants of 10% of the participants' base annual salary, as well as an additional bonus to cover federal and state taxes incurred by the participants. The participants are required to purchase life insurance and retain ownership of the life insurance policy once it is purchased. The Plan provides a five-year graded vesting schedule in which the participants vest at a rate of 20% each year. Should a participant terminate employment prior to the fifth year of vesting, that participant may be required to reimburse us for any unvested amounts, under certain circumstances. Expenses under the Plan were $327,000 and $338,000 for the years ended December&amp;#160;31, 2011 and 2010, respectively. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;&lt;i&gt;Change of Control Agreements &lt;/i&gt;&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;During 2002, we entered into Change of Control Agreements (the "Agreement(s)") with certain key executives ("the Executive(s)"). The Agreements provide an inducement for each Executive to remain as an employee in the event of any proposed or anticipated change of control in the organization, including facilitating an orderly transition, and to provide economic security for the Executive after a change in control has occurred. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;In the event of an involuntarily termination, each Executive would receive their base salary, annual bonus at time of termination, and continued participation in health, disability and life insurance plans for a period of three years for officers and two years for all other participants. Participants would also receive professional outplacement services up to $10,000, if applicable. Each Agreement remains in full force until the Executive terminates employment or we terminate the employment of the Executive.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:BusinessCombinationDisclosureTextBlock id="TAG151" contextRef="D2011">&lt;table style="font-size:10pt; font-family:'Times New Roman',times,serif;"&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;b&gt;NOTE 9 BUSINESS ACQUISITION &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On May&amp;#160;4, 2010, we acquired all of the intellectual property and assets, excluding cash and receivables, of Trivirix Corporation, Milaca, MN for cash of $403,000. The fair value of assets acquired included $303,000 in inventories and $100,000 in property and equipment. This operation specializes in design, manufacturing and post-production services of complex electronic and electromechanical medical devices for diagnostic, analytical and other life-science applications. This acquisition expands our capabilities and expertise serving medical electronics manufacturers. The acquisition has been accounted for as a business combination and results of operations for Milaca since the date of acquisition are included in the consolidated financial statements. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On January&amp;#160;1, 2011, we completed the purchase of certain assets and certain liabilities relating to Winland Electronics,&amp;#160;Inc.'s EMS operations (Winland) located in Mankato, MN. Winland is a designer and manufacturer of custom electronic control products and systems. This purchase provided needed manufacturing capacity, particularly for supporting medical and industrial customers with printed circuit board assemblies and higher-level builds. The acquisition was accounted for as a business combination and results of operations since the date of acquisition are included in the consolidated financial statements. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We paid $1,042,389 in cash at closing, $212,233 on July&amp;#160;1, 2011 and $250,000 on October&amp;#160;1, 2011. As provided for in the purchase agreement, our July&amp;#160;1, 2011 required payment of $250,000 was reduced by $37,767 for acquired accounts receivable which were deemed uncollectible in the second quarter and assigned back to Winland. As part of the acquisition we also agreed to purchase from Winland a minimum of $2,200,000 of inventories to be consumed over a period of 24&amp;#160;months. We have exceeded this minimum requirement as of December&amp;#160;31, 2011. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We also agreed to manufacture certain products for Winland's remaining proprietary monitoring devices business unit. For the year ended December&amp;#160;31, 2011, sales to Winland were approximately $2,700,000. Accounts receivable outstanding from Winland was approximately $424,000 at December&amp;#160;31, 2011. We also signed a six year agreement to lease office and manufacturing space at 1950 Excel Drive, Mankato, Minnesota, 56001, and sublease 1,924 square feet back to Winland through December&amp;#160;31, 2011. This sublease is now month to month. Net rent expense under this operating lease for the year ended December&amp;#160;31, 2011 was approximately $253,000 and is included in cost of good sold. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The following table presents the allocation of the acquisition cost to the assets acquired and liabilities assumed, based on their estimated fair values at the time of the acquisition: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 560px; HEIGHT: 121px" cellspacing="0" cellpadding="0" width="560" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="78"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Accounts receivable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;1,914,723&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Property, plant and equipment&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;2,451,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Accounts payable assumed&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;(1,772,334&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Lease payoff&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;(259,385&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net assets acquired&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;2,334,004&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Purchase price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;1,542,389&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Bargain purchase gain&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right"&gt;&lt;font size="2"&gt;791,615&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;We recognized a $791,615 bargain purchase gain related to the excess fair value over the purchase price for the assets acquired in the first quarter. &lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The table below reflects our unaudited pro forma combined results of operations as if the acquisition had taken place as of January&amp;#160;1, 2010: &lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"100%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 592px; HEIGHT: 106px" cellspacing="0" cellpadding="0" width="592" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="89"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" align="left"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;br /&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Pro Forma&lt;br /&gt;
For the Year Ended&lt;br /&gt;
December&amp;#160;31, 2010&lt;br /&gt;
(unaudited) &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net Sales&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;114,473,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Loss from Continuing Operations&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(291,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Net Loss&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(0.11&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Basic Loss per Common Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(0.11&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2"&gt;&amp;#160;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
&lt;!-- end of user-specified TAGGED TABLE --&gt;&lt;/div&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Combined results for the two companies for the year ended December&amp;#160;31, 2010 were adjusted for the following in order to create the unaudited proforma results in the table above:&lt;/font&gt;&lt;/p&gt;
&lt;ul&gt;
&lt;li style="list-style: none"&gt;
&lt;dl compact="compact"&gt;
&lt;dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#8226;&lt;/font&gt; &lt;/dt&gt;
&lt;dd style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Additional rent expense of approximately $65,000 per quarter for the lease of the facility from Winland, offset by building depreciation of $21,000 per quarter, &lt;/font&gt;&lt;font size="2"&gt;&lt;br /&gt;
&lt;br /&gt;&lt;/font&gt;&lt;/dd&gt;
&lt;dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#8226;&lt;/font&gt; &lt;/dt&gt;
&lt;dd style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Additional depreciation expense of approximately $40,000 per quarter resulting from the adjustment of property and equipment to their fair values, &lt;/font&gt;&lt;font size="2"&gt;&lt;br /&gt;
&lt;br /&gt;&lt;/font&gt;&lt;/dd&gt;
&lt;dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#8226;&lt;/font&gt; &lt;/dt&gt;
&lt;dd style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Elimination of inventory obsolescence charges of approximately $297,000 as we did not acquire Winland's inventory as part of the acquisition, &lt;/font&gt;&lt;font size="2"&gt;&lt;br /&gt;
&lt;br /&gt;&lt;/font&gt;&lt;/dd&gt;
&lt;dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#8226;&lt;/font&gt; &lt;/dt&gt;
&lt;dd style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Tax benefit of approximately $489,000 using an effective tax rate of 38&amp;#160;percent, &lt;/font&gt;&lt;font size="2"&gt;&lt;br /&gt;
&lt;br /&gt;&lt;/font&gt;&lt;/dd&gt;
&lt;dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#8226;&lt;/font&gt; &lt;/dt&gt;
&lt;dd style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;The impact of these adjustments on outstanding shares of 2,742,389 was to decrease proforma loss per share by $0.29. &lt;/font&gt;&lt;/dd&gt;&lt;/dl&gt;&lt;/li&gt;&lt;/ul&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The pro forma unaudited results do not purport to be indicative of the results which would have been obtained had the acquisition been completed as of the beginning of the earliest period presented. In addition they do not include any benefits that may result from the acquisition due to synergies that may be derived from the elimination of any duplicative costs.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;
</us-gaap:BusinessCombinationDisclosureTextBlock>
  <us-gaap:ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock id="TAG152" contextRef="D2011">&lt;table style="font-size:10pt; font-family:'Times New Roman',times,serif;"&gt;
&lt;tr&gt;
&lt;td&gt;
&lt;p style="FONT-FAMILY: arial" align="center"&gt;&lt;font size="2"&gt;&lt;b&gt;SCHEDULE II&amp;#8212;Valuation and Qualifying Accounts &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;p style="FONT-FAMILY: arial" align="center"&gt;&lt;font size="2"&gt;&lt;b&gt;FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010 &lt;/b&gt;&lt;/font&gt;&lt;/p&gt;
&lt;div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 67%; PADDING-TOP: 0pt; POSITION: relative"&gt;
&lt;p style="FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;&lt;!-- COMMAND=ADD_TABLEWIDTH,"120%" --&gt;&lt;/font&gt;&lt;/p&gt;
&lt;!-- User-specified TAGGED TABLE --&gt;
&lt;div align="center"&gt;
&lt;table style="WIDTH: 665px; HEIGHT: 158px" cellspacing="0" cellpadding="0" width="665" border="0"&gt;
&lt;tr style="HEIGHT: 0px"&gt;&lt;!-- TABLE COLUMN WIDTHS SET --&gt;
&lt;td style="FONT-FAMILY: arial" align="left"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="81"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="78"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" align="right" width="8"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="73"&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" width="12"&gt;&lt;/td&gt;&lt;!-- TABLE COLUMN WIDTHS END --&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="bottom"&gt;
&lt;th style="FONT-FAMILY: arial" nowrap="nowrap" align="left"&gt;
&lt;div style="MARGIN-BOTTOM: 0pt; WIDTH: 45pt; BORDER-BOTTOM: #000000 1pt solid"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Classification &lt;!-- COMMAND=ADD_SCROPPEDRULE,45pt --&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Balance at&lt;br /&gt;
Beginning&lt;br /&gt;
of Year &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Additions Charged&lt;br /&gt;
to Costs&lt;br /&gt;
and Expenses &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Deductions &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;
&lt;th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&lt;b&gt;Balance at&lt;br /&gt;
End of&lt;br /&gt;
Year &lt;/b&gt;&lt;/font&gt;&lt;/th&gt;
&lt;th style="FONT-FAMILY: arial"&gt;&lt;font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"&gt;&amp;#160;&lt;/font&gt;&lt;/th&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Year Ended December&amp;#160;31, 2011:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Allowance for Uncollectible Accounts&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;86,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;42,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(6,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;122,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Inventory Reserves&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,042,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;889,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(821,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,110,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Self-insurance Accrual&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;35,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;49,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(84,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
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&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-TOP: 12pt; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Year Ended December&amp;#160;31, 2010:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Allowance for Uncollectible Accounts&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;138,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;58,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(110,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;$&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;86,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Inventory Reserves&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,095,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,243,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(1,296,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;1,042,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
&lt;tr style="HEIGHT: 0px" valign="top" bgcolor="white"&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;
&lt;p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"&gt;&lt;font size="2"&gt;Self-insurance Accrual&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;310,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;3,110,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;(3,385,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom" align="right"&gt;&lt;font size="2"&gt;35,000&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-FAMILY: arial" valign="bottom"&gt;&lt;font size="2"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;
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  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets decimals="0" contextRef="D2011" unitRef="USD">-24223</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
  <us-gaap:IncreaseDecreaseInIncomeTaxesReceivable decimals="0" contextRef="D2011" unitRef="USD">-205709</us-gaap:IncreaseDecreaseInIncomeTaxesReceivable>
  <us-gaap:IncreaseDecreaseInAccountsPayable decimals="0" contextRef="D2011" unitRef="USD">-1167228</us-gaap:IncreaseDecreaseInAccountsPayable>
  <us-gaap:IncreaseDecreaseInEmployeeRelatedLiabilities decimals="0" contextRef="D2011" unitRef="USD">-413256</us-gaap:IncreaseDecreaseInEmployeeRelatedLiabilities>
  <us-gaap:IncreaseDecreaseInOtherAccruedLiabilities decimals="0" contextRef="D2011" unitRef="USD">-97146</us-gaap:IncreaseDecreaseInOtherAccruedLiabilities>
  <us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired decimals="0" contextRef="D2011" unitRef="USD">1542389</us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment decimals="0" contextRef="D2011" unitRef="USD">1270443</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:ProceedsFromRepaymentsOfLinesOfCredit decimals="0" contextRef="D2011" unitRef="USD">3729923</us-gaap:ProceedsFromRepaymentsOfLinesOfCredit>
  <us-gaap:RepaymentsOfLongTermDebt decimals="0" contextRef="D2011" unitRef="USD">1793087</us-gaap:RepaymentsOfLongTermDebt>
  <us-gaap:NetCashProvidedByUsedInContinuingOperations decimals="0" contextRef="D2011" unitRef="USD">-230582</us-gaap:NetCashProvidedByUsedInContinuingOperations>
  <us-gaap:InterestPaidNet decimals="0" contextRef="D2011" unitRef="USD">511328</us-gaap:InterestPaidNet>
  <us-gaap:IncomeTaxesPaidNet decimals="0" contextRef="D2011" unitRef="USD">40058</us-gaap:IncomeTaxesPaidNet>
  <us-gaap:CapitalExpendituresIncurredButNotYetPaid decimals="0" contextRef="D2011" unitRef="USD">117000</us-gaap:CapitalExpendituresIncurredButNotYetPaid>
  <us-gaap:IncomeTaxesPaidNet decimals="0" contextRef="D2010" unitRef="USD">-2027951</us-gaap:IncomeTaxesPaidNet>
  <us-gaap:InterestPaidNet decimals="0" contextRef="D2010" unitRef="USD">450180</us-gaap:InterestPaidNet>
  <us-gaap:PropertyPlantAndEquipmentTransfersAndChanges decimals="0" contextRef="D2010" unitRef="USD">201000</us-gaap:PropertyPlantAndEquipmentTransfersAndChanges>
</xbrli:xbrl>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>7
<FILENAME>nsys-20111231.xsd
<DESCRIPTION>EX-101.SCH
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- Created by Merrill Corporation -->
<!-- Generated by Fujitsu Interstage XWand B0160 -->
<xsd:schema targetNamespace="http://www.nortechsys.com/20111231" elementFormDefault="qualified" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:nsys="http://www.nortechsys.com/20111231" xmlns:us-gaap="http://fasb.org/us-gaap/2011-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2011-01-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink">
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbaseRef xlink:type="simple" xlink:href="nsys-20111231_pre.xml" xlink:title="Presentation Linkbase" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="nsys-20111231_cal.xml" xlink:title="Calculation Linkbase" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="nsys-20111231_def.xml" xlink:title="Definition Linkbase" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:linkbaseRef xlink:type="simple" xlink:href="nsys-20111231_lab.xml" xlink:title="Label Linkbase" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" />
      <link:roleType roleURI="http://www.nortechsys.com/role/BalanceSheet" id="BalanceSheet">
        <link:definition>0010 - Statement - CONSOLIDATED BALANCE SHEETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/BalanceSheetParenthetical" id="BalanceSheetParenthetical">
        <link:definition>0015 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/StatementOfIncome" id="StatementOfIncome">
        <link:definition>0020 - Statement - CONSOLIDATED STATEMENTS OF INCOME</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/CashFlows" id="CashFlows">
        <link:definition>0040 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureNatureOfBusinessAndSummaryOfSignificantAccountingPolicies" id="DisclosureNatureOfBusinessAndSummaryOfSignificantAccountingPolicies">
        <link:definition>1010 - Disclosure - NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureMajorCustomersAndConcentrationOfCreditRisk" id="DisclosureMajorCustomersAndConcentrationOfCreditRisk">
        <link:definition>1020 - Disclosure - MAJOR CUSTOMERS AND CONCENTRATION OF CREDIT RISK</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureFinancingAgreements" id="DisclosureFinancingAgreements">
        <link:definition>1030 - Disclosure - FINANCING AGREEMENTS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureDerivativeInstrumentsAndHedgingStrategies" id="DisclosureDerivativeInstrumentsAndHedgingStrategies">
        <link:definition>8000 - Disclosure - DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureIncomeTaxes" id="DisclosureIncomeTaxes">
        <link:definition>1040 - Disclosure - INCOME TAXES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureBusinessAcquisition" id="DisclosureBusinessAcquisition">
        <link:definition>1090 - Disclosure - BUSINESS ACQUISITION</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureRestructuringAndImpairmentCharges" id="DisclosureRestructuringAndImpairmentCharges">
        <link:definition>8020 - Disclosure - RESTRUCTURING AND IMPAIRMENT CHARGES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureNetIncomeLossPerCommonShare" id="DisclosureNetIncomeLossPerCommonShare">
        <link:definition>8030 - Disclosure - NET INCOME (LOSS) PER COMMON SHARE</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureComprehensiveIncome" id="DisclosureComprehensiveIncome">
        <link:definition>1050 - Disclosure - COMPREHENSIVE INCOME</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DocumentAndEntityInformation" id="DocumentAndEntityInformation">
        <link:definition>0000 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/StatementOfStockholdersEquity" id="StatementOfStockholdersEquity">
        <link:definition>0030 - Statement - CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureAccruedHealthAndDentalClaims" id="DisclosureAccruedHealthAndDentalClaims">
        <link:definition>8010 - Disclosure - ACCRUED HEALTH AND DENTAL CLAIMS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/Disclosure401KRetirementPlan" id="Disclosure401KRetirementPlan">
        <link:definition>1060 - Disclosure - 401(K) RETIREMENT PLAN</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureIncentivePlans" id="DisclosureIncentivePlans">
        <link:definition>1070 - Disclosure - INCENTIVE PLANS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/DisclosureCommitmentsAndContingencies" id="DisclosureCommitmentsAndContingencies">
        <link:definition>1080 - Disclosure - COMMITMENTS AND CONTINGENCIES</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.nortechsys.com/role/ScheduleIIValuationAndQualifyingAccounts" id="ScheduleIIValuationAndQualifyingAccounts">
        <link:definition>1100 - Disclosure - SCHEDULE II - Valuation and Qualifying Accounts</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
  <xsd:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
  <xsd:import namespace="http://www.w3.org/1999/xlink" schemaLocation="http://www.xbrl.org/2003/xlink-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
  <xsd:import namespace="http://fasb.org/us-gaap/2011-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/dei/2011-01-31" schemaLocation="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd" />
  <xsd:element name="InterestOnSwapValuation" id="nsys_InterestOnSwapValuation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" abstract="false" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element name="DueToSellerForBusinessAcquisition" id="nsys_DueToSellerForBusinessAcquisition" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element name="DocumentAndEntityInformationAbstract" id="nsys_DocumentAndEntityInformationAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
  <xsd:element name="AccruedHealthAndDentalClaimsDisclosureAbstract" id="nsys_AccruedHealthAndDentalClaimsDisclosureAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" abstract="true" nillable="true" xbrli:periodType="duration" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>8
<FILENAME>nsys-20111231_cal.xml
<DESCRIPTION>EX-101.CAL
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- Created by Merrill Corporation -->
<!-- Generated by Fujitsu Interstage XWand B0160 -->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrldt="http://xbrl.org/2005/xbrldt">
  <link:roleRef roleURI="http://www.nortechsys.com/role/BalanceSheet" xlink:type="simple" xlink:href="nsys-20111231.xsd#BalanceSheet" />
  <link:roleRef roleURI="http://www.nortechsys.com/role/StatementOfIncome" xlink:type="simple" xlink:href="nsys-20111231.xsd#StatementOfIncome" />
  <link:roleRef roleURI="http://www.nortechsys.com/role/CashFlows" xlink:type="simple" xlink:href="nsys-20111231.xsd#CashFlows" />
  <link:roleRef roleURI="http://www.nortechsys.com/role/StatementOfStockholdersEquity" xlink:type="simple" xlink:href="nsys-20111231.xsd#StatementOfStockholdersEquity" />
  <link:calculationLink xlink:type="extended" xlink:role="http://www.nortechsys.com/role/BalanceSheet">
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="AssetsCurrent" xlink:title="AssetsCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="AssetsCurrent" xlink:title="calculation: Assets to AssetsCurrent" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="CashAndCashEquivalentsAtCarryingValue" xlink:title="CashAndCashEquivalentsAtCarryingValue" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="CashAndCashEquivalentsAtCarryingValue" xlink:title="calculation: AssetsCurrent to CashAndCashEquivalentsAtCarryingValue" order="1.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="AccountsReceivableNetCurrent" xlink:title="AccountsReceivableNetCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="AccountsReceivableNetCurrent" xlink:title="calculation: AssetsCurrent to AccountsReceivableNetCurrent" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryNet" xlink:label="InventoryNet" xlink:title="InventoryNet" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="InventoryNet" xlink:title="calculation: AssetsCurrent to InventoryNet" order="3.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseCurrent" xlink:label="PrepaidExpenseCurrent" xlink:title="PrepaidExpenseCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="PrepaidExpenseCurrent" xlink:title="calculation: AssetsCurrent to PrepaidExpenseCurrent" order="4.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxesReceivable" xlink:label="IncomeTaxesReceivable" xlink:title="IncomeTaxesReceivable" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="IncomeTaxesReceivable" xlink:title="calculation: AssetsCurrent to IncomeTaxesReceivable" order="5.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="DeferredTaxAssetsNetCurrent" xlink:title="DeferredTaxAssetsNetCurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="AssetsCurrent" xlink:to="DeferredTaxAssetsNetCurrent" xlink:title="calculation: AssetsCurrent to DeferredTaxAssetsNetCurrent" order="6.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="PropertyPlantAndEquipmentNet" xlink:title="calculation: Assets to PropertyPlantAndEquipmentNet" order="2.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="FiniteLivedIntangibleAssetsNet" xlink:title="FiniteLivedIntangibleAssetsNet" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="FiniteLivedIntangibleAssetsNet" xlink:title="calculation: Assets to FiniteLivedIntangibleAssetsNet" order="3.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="DeferredTaxAssetsNetNoncurrent" xlink:title="DeferredTaxAssetsNetNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="DeferredTaxAssetsNetNoncurrent" xlink:title="calculation: Assets to DeferredTaxAssetsNetNoncurrent" order="4.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="OtherAssetsNoncurrent" xlink:title="OtherAssetsNoncurrent" />
    <link:calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="Assets" xlink:to="OtherAssetsNoncurrent" xlink:title="calculation: Assets to OtherAssetsNoncurrent" order="5.0" weight="1.0" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="LiabilitiesAndStockholdersEquity" xlink:title="LiabilitiesAndStockholdersEquity" />
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<DOCUMENT>
<TYPE>EX-101.DEF
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<FILENAME>nsys-20111231_def.xml
<DESCRIPTION>EX-101.DEF
<TEXT>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>10
<FILENAME>nsys-20111231_lab.xml
<DESCRIPTION>EX-101.LAB
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!-- Created by Merrill Corporation -->
<!-- Generated by Fujitsu Interstage XWand B0160 -->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrldt="http://xbrl.org/2005/xbrldt">
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="StatementOfFinancialPositionAbstract" xlink:title="StatementOfFinancialPositionAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfFinancialPositionAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfFinancialPositionAbstract" xml:lang="en-US" id="label_StatementOfFinancialPositionAbstract">CONSOLIDATED BALANCE SHEETS</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementTable" xml:lang="en-US" id="label_StatementTable">Statement [Table]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StatementLineItems_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StatementLineItems" xml:lang="en-US" id="label_StatementLineItems_2">Statement</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementLineItems" xlink:to="label_StatementLineItems_2" xlink:title="label: StatementLineItems to label_StatementLineItems" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="AssetsAbstract" xlink:title="AssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsAbstract" xml:lang="en-US" id="label_AssetsAbstract">ASSETS</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="label_AssetsAbstract" xlink:title="label: AssetsAbstract to label_AssetsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AssetsAbstract_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsAbstract" xml:lang="en-US" id="label_AssetsAbstract_2">Assets [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsAbstract" xlink:to="label_AssetsAbstract_2" xlink:title="label: AssetsAbstract to label_AssetsAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="AssetsCurrentAbstract" xlink:title="AssetsCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_AssetsCurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AssetsCurrentAbstract" xml:lang="en-US" id="label_AssetsCurrentAbstract">Current Assets</link:label>
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsCurrentAbstract" xlink:to="label_AssetsCurrentAbstract_2" xlink:title="label: AssetsCurrentAbstract to label_AssetsCurrentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="CashAndCashEquivalentsAtCarryingValue" xlink:title="CashAndCashEquivalentsAtCarryingValue" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US" id="label_CashAndCashEquivalentsAtCarryingValue">Cash</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CashAndCashEquivalentsAtCarryingValue" xlink:to="label_CashAndCashEquivalentsAtCarryingValue" xlink:title="label: CashAndCashEquivalentsAtCarryingValue to label_CashAndCashEquivalentsAtCarryingValue" />
    <link:label xlink:type="resource" xlink:label="label_CashAndCashEquivalentsAtCarryingValue_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US" id="label_CashAndCashEquivalentsAtCarryingValue_2">Cash and Cash Equivalents, at Carrying Value</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="AccountsReceivableNetCurrent" xlink:title="AccountsReceivableNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_AccountsReceivableNetCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccountsReceivableNetCurrent" xml:lang="en-US" id="label_AccountsReceivableNetCurrent">Accounts Receivable, Less Allowance for Uncollectible Accounts</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsReceivableNetCurrent" xlink:to="label_AccountsReceivableNetCurrent" xlink:title="label: AccountsReceivableNetCurrent to label_AccountsReceivableNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_AccountsReceivableNetCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccountsReceivableNetCurrent" xml:lang="en-US" id="label_AccountsReceivableNetCurrent_2">Accounts Receivable, Net, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsReceivableNetCurrent" xlink:to="label_AccountsReceivableNetCurrent_2" xlink:title="label: AccountsReceivableNetCurrent to label_AccountsReceivableNetCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InventoryNet" xlink:label="InventoryNet" xlink:title="InventoryNet" />
    <link:label xlink:type="resource" xlink:label="label_InventoryNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InventoryNet" xml:lang="en-US" id="label_InventoryNet">Inventories</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InventoryNet" xlink:to="label_InventoryNet" xlink:title="label: InventoryNet to label_InventoryNet" />
    <link:label xlink:type="resource" xlink:label="label_InventoryNet_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InventoryNet" xml:lang="en-US" id="label_InventoryNet_2">Inventory, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="InventoryNet" xlink:to="label_InventoryNet_2" xlink:title="label: InventoryNet to label_InventoryNet" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseCurrent" xlink:label="PrepaidExpenseCurrent" xlink:title="PrepaidExpenseCurrent" />
    <link:label xlink:type="resource" xlink:label="label_PrepaidExpenseCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PrepaidExpenseCurrent" xml:lang="en-US" id="label_PrepaidExpenseCurrent">Prepaid Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaidExpenseCurrent" xlink:to="label_PrepaidExpenseCurrent" xlink:title="label: PrepaidExpenseCurrent to label_PrepaidExpenseCurrent" />
    <link:label xlink:type="resource" xlink:label="label_PrepaidExpenseCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PrepaidExpenseCurrent" xml:lang="en-US" id="label_PrepaidExpenseCurrent_2">Prepaid Expense, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PrepaidExpenseCurrent" xlink:to="label_PrepaidExpenseCurrent_2" xlink:title="label: PrepaidExpenseCurrent to label_PrepaidExpenseCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxesReceivable" xlink:label="IncomeTaxesReceivable" xlink:title="IncomeTaxesReceivable" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeTaxesReceivable" xml:lang="en-US" id="label_IncomeTaxesReceivable">Income Taxes Receivable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesReceivable" xlink:to="label_IncomeTaxesReceivable" xlink:title="label: IncomeTaxesReceivable to label_IncomeTaxesReceivable" />
    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesReceivable_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxesReceivable" xml:lang="en-US" id="label_IncomeTaxesReceivable_2">Income Taxes Receivable, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="IncomeTaxesReceivable" xlink:to="label_IncomeTaxesReceivable_2" xlink:title="label: IncomeTaxesReceivable to label_IncomeTaxesReceivable" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetCurrent" xlink:label="DeferredTaxAssetsNetCurrent" xlink:title="DeferredTaxAssetsNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsNetCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxAssetsNetCurrent" xml:lang="en-US" id="label_DeferredTaxAssetsNetCurrent">Deferred Taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsNetCurrent" xlink:to="label_DeferredTaxAssetsNetCurrent" xlink:title="label: DeferredTaxAssetsNetCurrent to label_DeferredTaxAssetsNetCurrent" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsNetCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetsNetCurrent" xml:lang="en-US" id="label_DeferredTaxAssetsNetCurrent_2">Deferred Tax Assets, Net, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsNetCurrent" xlink:to="label_DeferredTaxAssetsNetCurrent_2" xlink:title="label: DeferredTaxAssetsNetCurrent to label_DeferredTaxAssetsNetCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="AssetsCurrent" xlink:title="AssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_AssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_AssetsCurrent" xml:lang="en-US" id="label_AssetsCurrent">Total Current Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsCurrent" xlink:to="label_AssetsCurrent" xlink:title="label: AssetsCurrent to label_AssetsCurrent" />
    <link:label xlink:type="resource" xlink:label="label_AssetsCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AssetsCurrent" xml:lang="en-US" id="label_AssetsCurrent_2">Assets, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AssetsCurrent" xlink:to="label_AssetsCurrent_2" xlink:title="label: AssetsCurrent to label_AssetsCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="PropertyPlantAndEquipmentNet" xlink:title="PropertyPlantAndEquipmentNet" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PropertyPlantAndEquipmentNet" xml:lang="en-US" id="label_PropertyPlantAndEquipmentNet">Property and Equipment, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentNet" xlink:to="label_PropertyPlantAndEquipmentNet" xlink:title="label: PropertyPlantAndEquipmentNet to label_PropertyPlantAndEquipmentNet" />
    <link:label xlink:type="resource" xlink:label="label_PropertyPlantAndEquipmentNet_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PropertyPlantAndEquipmentNet" xml:lang="en-US" id="label_PropertyPlantAndEquipmentNet_2">Property, Plant and Equipment, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PropertyPlantAndEquipmentNet" xlink:to="label_PropertyPlantAndEquipmentNet_2" xlink:title="label: PropertyPlantAndEquipmentNet to label_PropertyPlantAndEquipmentNet" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="FiniteLivedIntangibleAssetsNet" xlink:title="FiniteLivedIntangibleAssetsNet" />
    <link:label xlink:type="resource" xlink:label="label_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_FiniteLivedIntangibleAssetsNet" xml:lang="en-US" id="label_FiniteLivedIntangibleAssetsNet">Finite Life Intangible Assets, Net of Accumulated Amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FiniteLivedIntangibleAssetsNet" xlink:to="label_FiniteLivedIntangibleAssetsNet" xlink:title="label: FiniteLivedIntangibleAssetsNet to label_FiniteLivedIntangibleAssetsNet" />
    <link:label xlink:type="resource" xlink:label="label_FiniteLivedIntangibleAssetsNet_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_FiniteLivedIntangibleAssetsNet" xml:lang="en-US" id="label_FiniteLivedIntangibleAssetsNet_2">Finite-Lived Intangible Assets, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="FiniteLivedIntangibleAssetsNet" xlink:to="label_FiniteLivedIntangibleAssetsNet_2" xlink:title="label: FiniteLivedIntangibleAssetsNet to label_FiniteLivedIntangibleAssetsNet" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="DeferredTaxAssetsNetNoncurrent" xlink:title="DeferredTaxAssetsNetNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsNetNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredTaxAssetsNetNoncurrent" xml:lang="en-US" id="label_DeferredTaxAssetsNetNoncurrent">Deferred Taxes</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsNetNoncurrent" xlink:to="label_DeferredTaxAssetsNetNoncurrent" xlink:title="label: DeferredTaxAssetsNetNoncurrent to label_DeferredTaxAssetsNetNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_DeferredTaxAssetsNetNoncurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DeferredTaxAssetsNetNoncurrent" xml:lang="en-US" id="label_DeferredTaxAssetsNetNoncurrent_2">Deferred Tax Assets, Net, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="DeferredTaxAssetsNetNoncurrent" xlink:to="label_DeferredTaxAssetsNetNoncurrent_2" xlink:title="label: DeferredTaxAssetsNetNoncurrent to label_DeferredTaxAssetsNetNoncurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="OtherAssetsNoncurrent" xlink:title="OtherAssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherAssetsNoncurrent" xml:lang="en-US" id="label_OtherAssetsNoncurrent">Other Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsNoncurrent" xlink:to="label_OtherAssetsNoncurrent" xlink:title="label: OtherAssetsNoncurrent to label_OtherAssetsNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_OtherAssetsNoncurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherAssetsNoncurrent" xml:lang="en-US" id="label_OtherAssetsNoncurrent_2">Other Assets, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAssetsNoncurrent" xlink:to="label_OtherAssetsNoncurrent_2" xlink:title="label: OtherAssetsNoncurrent to label_OtherAssetsNoncurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="Assets" xlink:title="Assets" />
    <link:label xlink:type="resource" xlink:label="label_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Assets" xml:lang="en-US" id="label_Assets">Total Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets" xlink:title="label: Assets to label_Assets" />
    <link:label xlink:type="resource" xlink:label="label_Assets_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Assets" xml:lang="en-US" id="label_Assets_2">Assets</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Assets" xlink:to="label_Assets_2" xlink:title="label: Assets to label_Assets" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="LiabilitiesAndStockholdersEquityAbstract" xlink:title="LiabilitiesAndStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US" id="label_LiabilitiesAndStockholdersEquityAbstract">LIABILITIES AND SHAREHOLDERS' EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_LiabilitiesAndStockholdersEquityAbstract" xlink:title="label: LiabilitiesAndStockholdersEquityAbstract to label_LiabilitiesAndStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAndStockholdersEquityAbstract_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US" id="label_LiabilitiesAndStockholdersEquityAbstract_2">Liabilities and Equity [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquityAbstract" xlink:to="label_LiabilitiesAndStockholdersEquityAbstract_2" xlink:title="label: LiabilitiesAndStockholdersEquityAbstract to label_LiabilitiesAndStockholdersEquityAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="LiabilitiesCurrentAbstract" xlink:title="LiabilitiesCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesCurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesCurrentAbstract" xml:lang="en-US" id="label_LiabilitiesCurrentAbstract">Current Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesCurrentAbstract" xlink:to="label_LiabilitiesCurrentAbstract" xlink:title="label: LiabilitiesCurrentAbstract to label_LiabilitiesCurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesCurrentAbstract_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesCurrentAbstract" xml:lang="en-US" id="label_LiabilitiesCurrentAbstract_2">Liabilities, Current [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesCurrentAbstract" xlink:to="label_LiabilitiesCurrentAbstract_2" xlink:title="label: LiabilitiesCurrentAbstract to label_LiabilitiesCurrentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LinesOfCreditCurrent" xlink:label="LinesOfCreditCurrent" xlink:title="LinesOfCreditCurrent" />
    <link:label xlink:type="resource" xlink:label="label_LinesOfCreditCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LinesOfCreditCurrent" xml:lang="en-US" id="label_LinesOfCreditCurrent">Line of Credit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LinesOfCreditCurrent" xlink:to="label_LinesOfCreditCurrent" xlink:title="label: LinesOfCreditCurrent to label_LinesOfCreditCurrent" />
    <link:label xlink:type="resource" xlink:label="label_LinesOfCreditCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LinesOfCreditCurrent" xml:lang="en-US" id="label_LinesOfCreditCurrent_2">Line of Credit, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LinesOfCreditCurrent" xlink:to="label_LinesOfCreditCurrent_2" xlink:title="label: LinesOfCreditCurrent to label_LinesOfCreditCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="LongTermDebtCurrent" xlink:title="LongTermDebtCurrent" />
    <link:label xlink:type="resource" xlink:label="label_LongTermDebtCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongTermDebtCurrent" xml:lang="en-US" id="label_LongTermDebtCurrent">Current Maturities of Long-Term Debt</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtCurrent" xlink:to="label_LongTermDebtCurrent" xlink:title="label: LongTermDebtCurrent to label_LongTermDebtCurrent" />
    <link:label xlink:type="resource" xlink:label="label_LongTermDebtCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongTermDebtCurrent" xml:lang="en-US" id="label_LongTermDebtCurrent_2">Long-term Debt, Current Maturities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtCurrent" xlink:to="label_LongTermDebtCurrent_2" xlink:title="label: LongTermDebtCurrent to label_LongTermDebtCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsPayableCurrent" xlink:label="AccountsPayableCurrent" xlink:title="AccountsPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_AccountsPayableCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccountsPayableCurrent" xml:lang="en-US" id="label_AccountsPayableCurrent">Accounts Payable</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsPayableCurrent" xlink:to="label_AccountsPayableCurrent" xlink:title="label: AccountsPayableCurrent to label_AccountsPayableCurrent" />
    <link:label xlink:type="resource" xlink:label="label_AccountsPayableCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccountsPayableCurrent" xml:lang="en-US" id="label_AccountsPayableCurrent_2">Accounts Payable, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccountsPayableCurrent" xlink:to="label_AccountsPayableCurrent_2" xlink:title="label: AccountsPayableCurrent to label_AccountsPayableCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:label="EmployeeRelatedLiabilitiesCurrent" xlink:title="EmployeeRelatedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_EmployeeRelatedLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EmployeeRelatedLiabilitiesCurrent" xml:lang="en-US" id="label_EmployeeRelatedLiabilitiesCurrent">Accrued Payroll and Commissions</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeRelatedLiabilitiesCurrent" xlink:to="label_EmployeeRelatedLiabilitiesCurrent" xlink:title="label: EmployeeRelatedLiabilitiesCurrent to label_EmployeeRelatedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_EmployeeRelatedLiabilitiesCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EmployeeRelatedLiabilitiesCurrent" xml:lang="en-US" id="label_EmployeeRelatedLiabilitiesCurrent_2">Employee-related Liabilities, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EmployeeRelatedLiabilitiesCurrent" xlink:to="label_EmployeeRelatedLiabilitiesCurrent_2" xlink:title="label: EmployeeRelatedLiabilitiesCurrent to label_EmployeeRelatedLiabilitiesCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="OtherAccruedLiabilitiesCurrent" xlink:title="OtherAccruedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_OtherAccruedLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherAccruedLiabilitiesCurrent" xml:lang="en-US" id="label_OtherAccruedLiabilitiesCurrent">Other Accrued Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAccruedLiabilitiesCurrent" xlink:to="label_OtherAccruedLiabilitiesCurrent" xlink:title="label: OtherAccruedLiabilitiesCurrent to label_OtherAccruedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_OtherAccruedLiabilitiesCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherAccruedLiabilitiesCurrent" xml:lang="en-US" id="label_OtherAccruedLiabilitiesCurrent_2">Other Accrued Liabilities, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherAccruedLiabilitiesCurrent" xlink:to="label_OtherAccruedLiabilitiesCurrent_2" xlink:title="label: OtherAccruedLiabilitiesCurrent to label_OtherAccruedLiabilitiesCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="LiabilitiesCurrent" xlink:title="LiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_LiabilitiesCurrent" xml:lang="en-US" id="label_LiabilitiesCurrent">Total Current Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesCurrent" xlink:to="label_LiabilitiesCurrent" xlink:title="label: LiabilitiesCurrent to label_LiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesCurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesCurrent" xml:lang="en-US" id="label_LiabilitiesCurrent_2">Liabilities, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesCurrent" xlink:to="label_LiabilitiesCurrent_2" xlink:title="label: LiabilitiesCurrent to label_LiabilitiesCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherEmployeeRelatedLiabilitiesCurrent" xlink:label="OtherEmployeeRelatedLiabilitiesCurrent" xlink:title="OtherEmployeeRelatedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_OtherEmployeeRelatedLiabilitiesCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherEmployeeRelatedLiabilitiesCurrent" xml:lang="en-US" id="label_OtherEmployeeRelatedLiabilitiesCurrent">Other Employee Related Liabilities, Current</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherEmployeeRelatedLiabilitiesCurrent" xlink:to="label_OtherEmployeeRelatedLiabilitiesCurrent" xlink:title="label: OtherEmployeeRelatedLiabilitiesCurrent to label_OtherEmployeeRelatedLiabilitiesCurrent" />
    <link:label xlink:type="resource" xlink:label="label_OtherEmployeeRelatedLiabilitiesCurrent_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherEmployeeRelatedLiabilitiesCurrent" xml:lang="en-US" id="label_OtherEmployeeRelatedLiabilitiesCurrent_2">Accrued Health and Dental Claims</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherEmployeeRelatedLiabilitiesCurrent" xlink:to="label_OtherEmployeeRelatedLiabilitiesCurrent_2" xlink:title="label: OtherEmployeeRelatedLiabilitiesCurrent to label_OtherEmployeeRelatedLiabilitiesCurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesNoncurrentAbstract" xlink:label="LiabilitiesNoncurrentAbstract" xlink:title="LiabilitiesNoncurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesNoncurrentAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LiabilitiesNoncurrentAbstract" xml:lang="en-US" id="label_LiabilitiesNoncurrentAbstract">Long-Term Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesNoncurrentAbstract" xlink:to="label_LiabilitiesNoncurrentAbstract" xlink:title="label: LiabilitiesNoncurrentAbstract to label_LiabilitiesNoncurrentAbstract" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesNoncurrentAbstract_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesNoncurrentAbstract" xml:lang="en-US" id="label_LiabilitiesNoncurrentAbstract_2">Liabilities, Noncurrent [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesNoncurrentAbstract" xlink:to="label_LiabilitiesNoncurrentAbstract_2" xlink:title="label: LiabilitiesNoncurrentAbstract to label_LiabilitiesNoncurrentAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="LongTermDebtNoncurrent" xlink:title="LongTermDebtNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_LongTermDebtNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_LongTermDebtNoncurrent" xml:lang="en-US" id="label_LongTermDebtNoncurrent">Long-Term Debt (Net of Current Maturities)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtNoncurrent" xlink:to="label_LongTermDebtNoncurrent" xlink:title="label: LongTermDebtNoncurrent to label_LongTermDebtNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_LongTermDebtNoncurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LongTermDebtNoncurrent" xml:lang="en-US" id="label_LongTermDebtNoncurrent_2">Long-term Debt, Excluding Current Maturities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LongTermDebtNoncurrent" xlink:to="label_LongTermDebtNoncurrent_2" xlink:title="label: LongTermDebtNoncurrent to label_LongTermDebtNoncurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrent" xlink:label="OtherLiabilitiesNoncurrent" xlink:title="OtherLiabilitiesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_OtherLiabilitiesNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OtherLiabilitiesNoncurrent" xml:lang="en-US" id="label_OtherLiabilitiesNoncurrent">Other Long-Term Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLiabilitiesNoncurrent" xlink:to="label_OtherLiabilitiesNoncurrent" xlink:title="label: OtherLiabilitiesNoncurrent to label_OtherLiabilitiesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_OtherLiabilitiesNoncurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OtherLiabilitiesNoncurrent" xml:lang="en-US" id="label_OtherLiabilitiesNoncurrent_2">Other Liabilities, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OtherLiabilitiesNoncurrent" xlink:to="label_OtherLiabilitiesNoncurrent_2" xlink:title="label: OtherLiabilitiesNoncurrent to label_OtherLiabilitiesNoncurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesNoncurrent" xlink:label="LiabilitiesNoncurrent" xlink:title="LiabilitiesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesNoncurrent" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_LiabilitiesNoncurrent" xml:lang="en-US" id="label_LiabilitiesNoncurrent">Total Long-Term Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesNoncurrent" xlink:to="label_LiabilitiesNoncurrent" xlink:title="label: LiabilitiesNoncurrent to label_LiabilitiesNoncurrent" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesNoncurrent_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesNoncurrent" xml:lang="en-US" id="label_LiabilitiesNoncurrent_2">Liabilities, Noncurrent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesNoncurrent" xlink:to="label_LiabilitiesNoncurrent_2" xlink:title="label: LiabilitiesNoncurrent to label_LiabilitiesNoncurrent" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="Liabilities" xlink:title="Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_Liabilities" xml:lang="en-US" id="label_Liabilities">Total Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities" xlink:title="label: Liabilities to label_Liabilities" />
    <link:label xlink:type="resource" xlink:label="label_Liabilities_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_Liabilities" xml:lang="en-US" id="label_Liabilities_2">Liabilities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="Liabilities" xlink:to="label_Liabilities_2" xlink:title="label: Liabilities to label_Liabilities" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="StockholdersEquityAbstract" xlink:title="StockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_StockholdersEquityAbstract" xml:lang="en-US" id="label_StockholdersEquityAbstract">Shareholders' Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityAbstract" xlink:to="label_StockholdersEquityAbstract" xlink:title="label: StockholdersEquityAbstract to label_StockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquityAbstract_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockholdersEquityAbstract" xml:lang="en-US" id="label_StockholdersEquityAbstract_2">Stockholders' Equity Attributable to Parent [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquityAbstract" xlink:to="label_StockholdersEquityAbstract_2" xlink:title="label: StockholdersEquityAbstract to label_StockholdersEquityAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="PreferredStockValue" xlink:title="PreferredStockValue" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_PreferredStockValue" xml:lang="en-US" id="label_PreferredStockValue">Preferred Stock, $1 par value; 1,000,000 Shares Authorized; 250,000 Shares Issued and Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockValue" xlink:to="label_PreferredStockValue" xlink:title="label: PreferredStockValue to label_PreferredStockValue" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockValue_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockValue" xml:lang="en-US" id="label_PreferredStockValue_2">Preferred Stock, Value, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockValue" xlink:to="label_PreferredStockValue_2" xlink:title="label: PreferredStockValue to label_PreferredStockValue" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockValue" xlink:label="CommonStockValue" xlink:title="CommonStockValue" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:title="label_CommonStockValue" xml:lang="en-US" id="label_CommonStockValue">Common Stock - $0.01 par value; 9,000,000 Shares Authorized; 2,742,992 Shares Issued and Outstanding at December 31, 2011 and 2010, respectively</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockValue" xlink:to="label_CommonStockValue" xlink:title="label: CommonStockValue to label_CommonStockValue" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockValue_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockValue" xml:lang="en-US" id="label_CommonStockValue_2">Common Stock, Value, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockValue" xlink:to="label_CommonStockValue_2" xlink:title="label: CommonStockValue to label_CommonStockValue" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="AdditionalPaidInCapital" xlink:title="AdditionalPaidInCapital" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalPaidInCapital" xml:lang="en-US" id="label_AdditionalPaidInCapital">Additional Paid-In Capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapital" xlink:to="label_AdditionalPaidInCapital" xlink:title="label: AdditionalPaidInCapital to label_AdditionalPaidInCapital" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaidInCapital_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalPaidInCapital" xml:lang="en-US" id="label_AdditionalPaidInCapital_2">Additional Paid in Capital</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapital" xlink:to="label_AdditionalPaidInCapital_2" xlink:title="label: AdditionalPaidInCapital to label_AdditionalPaidInCapital" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:title="AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax">Accumulated Other Comprehensive Loss</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:title="label: AccumulatedOtherComprehensiveIncomeLossNetOfTax to label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2">Accumulated Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="label_AccumulatedOtherComprehensiveIncomeLossNetOfTax_2" xlink:title="label: AccumulatedOtherComprehensiveIncomeLossNetOfTax to label_AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="RetainedEarningsAccumulatedDeficit" xlink:title="RetainedEarningsAccumulatedDeficit" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RetainedEarningsAccumulatedDeficit" xml:lang="en-US" id="label_RetainedEarningsAccumulatedDeficit">Retained Earnings</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsAccumulatedDeficit" xlink:to="label_RetainedEarningsAccumulatedDeficit" xlink:title="label: RetainedEarningsAccumulatedDeficit to label_RetainedEarningsAccumulatedDeficit" />
    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsAccumulatedDeficit_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarningsAccumulatedDeficit" xml:lang="en-US" id="label_RetainedEarningsAccumulatedDeficit_2">Retained Earnings (Accumulated Deficit)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="RetainedEarningsAccumulatedDeficit" xlink:to="label_RetainedEarningsAccumulatedDeficit_2" xlink:title="label: RetainedEarningsAccumulatedDeficit to label_RetainedEarningsAccumulatedDeficit" />
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    <link:label xlink:type="resource" xlink:label="label_StockholdersEquity_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_StockholdersEquity" xml:lang="en-US" id="label_StockholdersEquity_2">Total Shareholders' Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="label_StockholdersEquity_2" xlink:title="label: StockholdersEquity to label_StockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquity_3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockholdersEquity" xml:lang="en-US" id="label_StockholdersEquity_3">Stockholders' Equity Attributable to Parent</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="label_StockholdersEquity_3" xlink:title="label: StockholdersEquity to label_StockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquity_4" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:title="label_StockholdersEquity" xml:lang="en-US" id="label_StockholdersEquity_4">BALANCE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="label_StockholdersEquity_4" xlink:title="label: StockholdersEquity to label_StockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:title="label_StockholdersEquity" xml:lang="en-US" id="label_StockholdersEquity">BALANCE</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StockholdersEquity" xlink:to="label_StockholdersEquity" xlink:title="label: StockholdersEquity to label_StockholdersEquity" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="LiabilitiesAndStockholdersEquity" xlink:title="LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_LiabilitiesAndStockholdersEquity" xml:lang="en-US" id="label_LiabilitiesAndStockholdersEquity">Total Liabilities and Shareholders' Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="label_LiabilitiesAndStockholdersEquity" xlink:title="label: LiabilitiesAndStockholdersEquity to label_LiabilitiesAndStockholdersEquity" />
    <link:label xlink:type="resource" xlink:label="label_LiabilitiesAndStockholdersEquity_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_LiabilitiesAndStockholdersEquity" xml:lang="en-US" id="label_LiabilitiesAndStockholdersEquity_2">Liabilities and Equity</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="LiabilitiesAndStockholdersEquity" xlink:to="label_LiabilitiesAndStockholdersEquity_2" xlink:title="label: LiabilitiesAndStockholdersEquity to label_LiabilitiesAndStockholdersEquity" />
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    <link:label xlink:type="resource" xlink:label="label_PreferredStockParOrStatedValuePerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockParOrStatedValuePerShare" xml:lang="en-US" id="label_PreferredStockParOrStatedValuePerShare_2">Preferred Stock, par value (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockParOrStatedValuePerShare" xlink:to="label_PreferredStockParOrStatedValuePerShare_2" xlink:title="label: PreferredStockParOrStatedValuePerShare to label_PreferredStockParOrStatedValuePerShare" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="PreferredStockSharesAuthorized" xlink:title="PreferredStockSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockSharesAuthorized" xml:lang="en-US" id="label_PreferredStockSharesAuthorized">Preferred Stock, Shares Authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesAuthorized" xlink:to="label_PreferredStockSharesAuthorized" xlink:title="label: PreferredStockSharesAuthorized to label_PreferredStockSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesAuthorized_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockSharesAuthorized" xml:lang="en-US" id="label_PreferredStockSharesAuthorized_2">Preferred Stock, Shares Authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesAuthorized" xlink:to="label_PreferredStockSharesAuthorized_2" xlink:title="label: PreferredStockSharesAuthorized to label_PreferredStockSharesAuthorized" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="PreferredStockSharesIssued" xlink:title="PreferredStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockSharesIssued" xml:lang="en-US" id="label_PreferredStockSharesIssued">Preferred Stock, Shares Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesIssued" xlink:to="label_PreferredStockSharesIssued" xlink:title="label: PreferredStockSharesIssued to label_PreferredStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesIssued_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockSharesIssued" xml:lang="en-US" id="label_PreferredStockSharesIssued_2">Preferred Stock, Shares Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesIssued" xlink:to="label_PreferredStockSharesIssued_2" xlink:title="label: PreferredStockSharesIssued to label_PreferredStockSharesIssued" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="PreferredStockSharesOutstanding" xlink:title="PreferredStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockSharesOutstanding" xml:lang="en-US" id="label_PreferredStockSharesOutstanding">Preferred Stock, Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesOutstanding" xlink:to="label_PreferredStockSharesOutstanding" xlink:title="label: PreferredStockSharesOutstanding to label_PreferredStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockSharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockSharesOutstanding" xml:lang="en-US" id="label_PreferredStockSharesOutstanding_2">Preferred Stock, Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockSharesOutstanding" xlink:to="label_PreferredStockSharesOutstanding_2" xlink:title="label: PreferredStockSharesOutstanding to label_PreferredStockSharesOutstanding" />
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    <link:label xlink:type="resource" xlink:label="label_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockParOrStatedValuePerShare" xml:lang="en-US" id="label_CommonStockParOrStatedValuePerShare">Common Stock, Par or Stated Value Per Share</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockParOrStatedValuePerShare" xlink:to="label_CommonStockParOrStatedValuePerShare" xlink:title="label: CommonStockParOrStatedValuePerShare to label_CommonStockParOrStatedValuePerShare" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockParOrStatedValuePerShare_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockParOrStatedValuePerShare" xml:lang="en-US" id="label_CommonStockParOrStatedValuePerShare_2">Common Stock - par value (in dollars per share)</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockParOrStatedValuePerShare" xlink:to="label_CommonStockParOrStatedValuePerShare_2" xlink:title="label: CommonStockParOrStatedValuePerShare to label_CommonStockParOrStatedValuePerShare" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="CommonStockSharesAuthorized" xlink:title="CommonStockSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesAuthorized" xml:lang="en-US" id="label_CommonStockSharesAuthorized">Common Stock, Shares Authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorized" xlink:to="label_CommonStockSharesAuthorized" xlink:title="label: CommonStockSharesAuthorized to label_CommonStockSharesAuthorized" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesAuthorized_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesAuthorized" xml:lang="en-US" id="label_CommonStockSharesAuthorized_2">Common Stock - Shares Authorized</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesAuthorized" xlink:to="label_CommonStockSharesAuthorized_2" xlink:title="label: CommonStockSharesAuthorized to label_CommonStockSharesAuthorized" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="CommonStockSharesIssued" xlink:title="CommonStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesIssued" xml:lang="en-US" id="label_CommonStockSharesIssued">Common Stock, Shares, Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesIssued" xlink:to="label_CommonStockSharesIssued" xlink:title="label: CommonStockSharesIssued to label_CommonStockSharesIssued" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesIssued_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesIssued" xml:lang="en-US" id="label_CommonStockSharesIssued_2">Common Stock - Shares Issued</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesIssued" xlink:to="label_CommonStockSharesIssued_2" xlink:title="label: CommonStockSharesIssued to label_CommonStockSharesIssued" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="CommonStockSharesOutstanding" xlink:title="CommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockSharesOutstanding" xml:lang="en-US" id="label_CommonStockSharesOutstanding">Common Stock, Shares, Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesOutstanding" xlink:to="label_CommonStockSharesOutstanding" xlink:title="label: CommonStockSharesOutstanding to label_CommonStockSharesOutstanding" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockSharesOutstanding_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockSharesOutstanding" xml:lang="en-US" id="label_CommonStockSharesOutstanding_2">Common Stock - Shares Outstanding</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockSharesOutstanding" xlink:to="label_CommonStockSharesOutstanding_2" xlink:title="label: CommonStockSharesOutstanding to label_CommonStockSharesOutstanding" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SalesRevenueNet" xlink:label="SalesRevenueNet" xlink:title="SalesRevenueNet" />
    <link:label xlink:type="resource" xlink:label="label_SalesRevenueNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SalesRevenueNet" xml:lang="en-US" id="label_SalesRevenueNet">Revenue, Net</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesRevenueNet" xlink:to="label_SalesRevenueNet" xlink:title="label: SalesRevenueNet to label_SalesRevenueNet" />
    <link:label xlink:type="resource" xlink:label="label_SalesRevenueNet_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SalesRevenueNet" xml:lang="en-US" id="label_SalesRevenueNet_2">Net Sales</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SalesRevenueNet" xlink:to="label_SalesRevenueNet_2" xlink:title="label: SalesRevenueNet to label_SalesRevenueNet" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CostOfGoodsAndServicesSold" xlink:label="CostOfGoodsAndServicesSold" xlink:title="CostOfGoodsAndServicesSold" />
    <link:label xlink:type="resource" xlink:label="label_CostOfGoodsAndServicesSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CostOfGoodsAndServicesSold" xml:lang="en-US" id="label_CostOfGoodsAndServicesSold">Cost of Goods and Services Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfGoodsAndServicesSold" xlink:to="label_CostOfGoodsAndServicesSold" xlink:title="label: CostOfGoodsAndServicesSold to label_CostOfGoodsAndServicesSold" />
    <link:label xlink:type="resource" xlink:label="label_CostOfGoodsAndServicesSold_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CostOfGoodsAndServicesSold" xml:lang="en-US" id="label_CostOfGoodsAndServicesSold_2">Cost of Goods Sold</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CostOfGoodsAndServicesSold" xlink:to="label_CostOfGoodsAndServicesSold_2" xlink:title="label: CostOfGoodsAndServicesSold to label_CostOfGoodsAndServicesSold" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GrossProfit" xlink:label="GrossProfit" xlink:title="GrossProfit" />
    <link:label xlink:type="resource" xlink:label="label_GrossProfit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GrossProfit" xml:lang="en-US" id="label_GrossProfit">Gross Profit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossProfit" xlink:to="label_GrossProfit" xlink:title="label: GrossProfit to label_GrossProfit" />
    <link:label xlink:type="resource" xlink:label="label_GrossProfit_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_GrossProfit" xml:lang="en-US" id="label_GrossProfit_2">Gross Profit</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GrossProfit" xlink:to="label_GrossProfit_2" xlink:title="label: GrossProfit to label_GrossProfit" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="OperatingExpensesAbstract" xlink:title="OperatingExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingExpensesAbstract" xml:lang="en-US" id="label_OperatingExpensesAbstract">Operating Expenses [Abstract]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpensesAbstract" xlink:to="label_OperatingExpensesAbstract" xlink:title="label: OperatingExpensesAbstract to label_OperatingExpensesAbstract" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpensesAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_OperatingExpensesAbstract" xml:lang="en-US" id="label_OperatingExpensesAbstract_2">Operating Expenses:</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpensesAbstract" xlink:to="label_OperatingExpensesAbstract_2" xlink:title="label: OperatingExpensesAbstract to label_OperatingExpensesAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SellingExpense" xlink:label="SellingExpense" xlink:title="SellingExpense" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SellingExpense" xml:lang="en-US" id="label_SellingExpense">Selling Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpense" xlink:to="label_SellingExpense" xlink:title="label: SellingExpense to label_SellingExpense" />
    <link:label xlink:type="resource" xlink:label="label_SellingExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SellingExpense" xml:lang="en-US" id="label_SellingExpense_2">Selling Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="SellingExpense" xlink:to="label_SellingExpense_2" xlink:title="label: SellingExpense to label_SellingExpense" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="GeneralAndAdministrativeExpense" xlink:title="GeneralAndAdministrativeExpense" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GeneralAndAdministrativeExpense" xml:lang="en-US" id="label_GeneralAndAdministrativeExpense">General and Administrative Expense</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="label_GeneralAndAdministrativeExpense" xlink:title="label: GeneralAndAdministrativeExpense to label_GeneralAndAdministrativeExpense" />
    <link:label xlink:type="resource" xlink:label="label_GeneralAndAdministrativeExpense_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_GeneralAndAdministrativeExpense" xml:lang="en-US" id="label_GeneralAndAdministrativeExpense_2">General and Administrative Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="GeneralAndAdministrativeExpense" xlink:to="label_GeneralAndAdministrativeExpense_2" xlink:title="label: GeneralAndAdministrativeExpense to label_GeneralAndAdministrativeExpense" />
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    <link:label xlink:type="resource" xlink:label="label_OperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_OperatingExpenses" xml:lang="en-US" id="label_OperatingExpenses">Operating Expenses</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="OperatingExpenses" xlink:to="label_OperatingExpenses" xlink:title="label: OperatingExpenses to label_OperatingExpenses" />
    <link:label xlink:type="resource" xlink:label="label_OperatingExpenses_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OperatingExpenses" xml:lang="en-US" id="label_OperatingExpenses_2">Total Operating Expenses</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RestructuringSettlementAndImpairmentProvisions_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_RestructuringSettlementAndImpairmentProvisions" xml:lang="en-US" id="label_RestructuringSettlementAndImpairmentProvisions_2">Restructuring and Impairment Charges</link:label>
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    <link:label xlink:type="resource" xlink:label="label_OperatingIncomeLoss_2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_OperatingIncomeLoss" xml:lang="en-US" id="label_OperatingIncomeLoss_2">Income From Operations</link:label>
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    <link:label xlink:type="resource" xlink:label="label_Depreciation_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_Depreciation" xml:lang="en-US" id="label_Depreciation_2">Depreciation</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentForAmortization" xlink:label="AdjustmentForAmortization" xlink:title="AdjustmentForAmortization" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentForAmortization" xlink:to="label_AdjustmentForAmortization" xlink:title="label: AdjustmentForAmortization to label_AdjustmentForAmortization" />
    <link:label xlink:type="resource" xlink:label="label_AdjustmentForAmortization_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdjustmentForAmortization" xml:lang="en-US" id="label_AdjustmentForAmortization_2">Amortization</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdjustmentForAmortization" xlink:to="label_AdjustmentForAmortization_2" xlink:title="label: AdjustmentForAmortization to label_AdjustmentForAmortization" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="ShareBasedCompensation" xlink:title="ShareBasedCompensation" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ShareBasedCompensation" xml:lang="en-US" id="label_ShareBasedCompensation">Share-based Compensation</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensation" xlink:to="label_ShareBasedCompensation" xlink:title="label: ShareBasedCompensation to label_ShareBasedCompensation" />
    <link:label xlink:type="resource" xlink:label="label_ShareBasedCompensation_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_ShareBasedCompensation" xml:lang="en-US" id="label_ShareBasedCompensation_2">Compensation on Stock-Based Awards</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ShareBasedCompensation" xlink:to="label_ShareBasedCompensation_2" xlink:title="label: ShareBasedCompensation to label_ShareBasedCompensation" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="DeferredIncomeTaxExpenseBenefit" xlink:title="DeferredIncomeTaxExpenseBenefit" />
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    <link:label xlink:type="resource" xlink:label="label_DeferredIncomeTaxExpenseBenefit_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_DeferredIncomeTaxExpenseBenefit" xml:lang="en-US" id="label_DeferredIncomeTaxExpenseBenefit_2">Deferred Taxes</link:label>
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    <link:label xlink:type="resource" xlink:label="label_GainLossOnSaleOfPropertyPlantEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_GainLossOnSaleOfPropertyPlantEquipment" xml:lang="en-US" id="label_GainLossOnSaleOfPropertyPlantEquipment">Gain (Loss) on Sale of Property Plant Equipment</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="IncreaseDecreaseInOperatingCapitalAbstract" xlink:title="IncreaseDecreaseInOperatingCapitalAbstract" />
    <link:label xlink:type="resource" xlink:label="label_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncreaseDecreaseInOperatingCapitalAbstract" xml:lang="en-US" id="label_IncreaseDecreaseInOperatingCapitalAbstract">Increase (Decrease) in Operating Capital [Abstract]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:label="NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:title="NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" />
    <link:label xlink:type="resource" xlink:label="label_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract" xml:lang="en-US" id="label_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract">CASH FLOWS FROM INVESTING ACTIVITIES</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:title="ProceedsFromSaleOfPropertyPlantAndEquipment" />
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    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ProceedsFromIssuanceOfLongTermDebt" xlink:to="label_ProceedsFromIssuanceOfLongTermDebt" xlink:title="label: ProceedsFromIssuanceOfLongTermDebt to label_ProceedsFromIssuanceOfLongTermDebt" />
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    <link:label xlink:type="resource" xlink:label="label_ProceedsFromIssuanceOfCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromIssuanceOfCommonStock" xml:lang="en-US" id="label_ProceedsFromIssuanceOfCommonStock">Proceeds from Issuance of Common Stock</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:label="NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:title="NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:title="label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xml:lang="en-US" id="label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations">Net Cash Provided by (Used in) Financing Activities</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:title="label: NetCashProvidedByUsedInFinancingActivitiesContinuingOperations to label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" />
    <link:label xlink:type="resource" xlink:label="label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xml:lang="en-US" id="label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_2">Net Cash Provided by (Used in) Financing Activities, Continuing Operations</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" xlink:to="label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations_2" xlink:title="label: NetCashProvidedByUsedInFinancingActivitiesContinuingOperations to label_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations" />
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    <link:label xlink:type="resource" xlink:label="label_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations" xml:lang="en-US" id="label_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations">Effect of Foreign Currency Exchange Rate Changes on Cash</link:label>
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    <link:label xlink:type="resource" xlink:label="label_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations" xml:lang="en-US" id="label_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations_2">Effect of Exchange Rate on Cash and Cash Equivalents, Continuing Operations</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInContinuingOperations" xlink:label="NetCashProvidedByUsedInContinuingOperations" xlink:title="NetCashProvidedByUsedInContinuingOperations" />
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    <link:label xlink:type="resource" xlink:label="label_NetCashProvidedByUsedInContinuingOperations_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_NetCashProvidedByUsedInContinuingOperations" xml:lang="en-US" id="label_NetCashProvidedByUsedInContinuingOperations_2">Net Cash Provided by (Used in) Continuing Operations</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="SupplementalCashFlowInformationAbstract" xlink:title="SupplementalCashFlowInformationAbstract" />
    <link:label xlink:type="resource" xlink:label="label_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_SupplementalCashFlowInformationAbstract" xml:lang="en-US" id="label_SupplementalCashFlowInformationAbstract">Supplemental Cash Flow Information [Abstract]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_SupplementalCashFlowInformationAbstract_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_SupplementalCashFlowInformationAbstract" xml:lang="en-US" id="label_SupplementalCashFlowInformationAbstract_2">Supplemental Disclosure of Cash Flow Information:</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="InterestPaidNet" xlink:title="InterestPaidNet" />
    <link:label xlink:type="resource" xlink:label="label_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_InterestPaidNet" xml:lang="en-US" id="label_InterestPaidNet">Interest Paid, Net</link:label>
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    <link:label xlink:type="resource" xlink:label="label_InterestPaidNet_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_InterestPaidNet" xml:lang="en-US" id="label_InterestPaidNet_2">Cash Paid During the Period for Interest</link:label>
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    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_IncomeTaxesPaidNet" xml:lang="en-US" id="label_IncomeTaxesPaidNet">Income Taxes Paid, Net</link:label>
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    <link:label xlink:type="resource" xlink:label="label_IncomeTaxesPaidNet_2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_IncomeTaxesPaidNet" xml:lang="en-US" id="label_IncomeTaxesPaidNet_2">Cash Paid (Received) During the Period for Income Taxes</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="SignificantAccountingPoliciesTextBlock" xlink:title="SignificantAccountingPoliciesTextBlock" />
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="DocumentFiscalYearFocus" xlink:title="DocumentFiscalYearFocus" />
    <link:label xlink:type="resource" xlink:label="label_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_DocumentFiscalYearFocus" xml:lang="en-US" id="label_DocumentFiscalYearFocus">Document Fiscal Year Focus</link:label>
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    <link:label xlink:type="resource" xlink:label="label_StockIssuedDuringPeriodValueStockOptionsExercised_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StockIssuedDuringPeriodValueStockOptionsExercised" xml:lang="en-US" id="label_StockIssuedDuringPeriodValueStockOptionsExercised_2">Stock Issued During Period, Value, Stock Options Exercised</link:label>
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    <link:label xlink:type="resource" xlink:label="label_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_PreferredStockMember" xml:lang="en-US" id="label_PreferredStockMember">Preferred Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="PreferredStockMember" xlink:to="label_PreferredStockMember" xlink:title="label: PreferredStockMember to label_PreferredStockMember" />
    <link:label xlink:type="resource" xlink:label="label_PreferredStockMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_PreferredStockMember" xml:lang="en-US" id="label_PreferredStockMember_2">Preferred Stock [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_CommonStockMember" xml:lang="en-US" id="label_CommonStockMember">Common Stock</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="label_CommonStockMember" xlink:title="label: CommonStockMember to label_CommonStockMember" />
    <link:label xlink:type="resource" xlink:label="label_CommonStockMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_CommonStockMember" xml:lang="en-US" id="label_CommonStockMember_2">Common Stock [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="CommonStockMember" xlink:to="label_CommonStockMember_2" xlink:title="label: CommonStockMember to label_CommonStockMember" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="AdditionalPaidInCapitalMember" xlink:title="AdditionalPaidInCapitalMember" />
    <link:label xlink:type="resource" xlink:label="label_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AdditionalPaidInCapitalMember" xml:lang="en-US" id="label_AdditionalPaidInCapitalMember">Additional Paid-In Capital</link:label>
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    <link:label xlink:type="resource" xlink:label="label_AdditionalPaidInCapitalMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AdditionalPaidInCapitalMember" xml:lang="en-US" id="label_AdditionalPaidInCapitalMember_2">Additional Paid-in Capital [Member]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="AdditionalPaidInCapitalMember" xlink:to="label_AdditionalPaidInCapitalMember_2" xlink:title="label: AdditionalPaidInCapitalMember to label_AdditionalPaidInCapitalMember" />
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    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:title="label_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeMember">Accumulated Other Comprehensive Income (Loss)</link:label>
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    <link:label xlink:type="resource" xlink:label="label_AccumulatedOtherComprehensiveIncomeMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US" id="label_AccumulatedOtherComprehensiveIncomeMember_2">Accumulated Other Comprehensive Income (Loss) [Member]</link:label>
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    <link:label xlink:type="resource" xlink:label="label_RetainedEarningsMember_2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_RetainedEarningsMember" xml:lang="en-US" id="label_RetainedEarningsMember_2">Retained Earnings [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock" xlink:label="ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock" xlink:title="ScheduleOfValuationAndQualifyingAccountsDisclosureTextBlock" />
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    <link:label xlink:type="resource" xlink:label="label_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_EquityComponentDomain" xml:lang="en-US" id="label_EquityComponentDomain">Equity Component [Domain]</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="EquityComponentDomain" xlink:to="label_EquityComponentDomain" xlink:title="label: EquityComponentDomain to label_EquityComponentDomain" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="StatementOfStockholdersEquityAbstract" xlink:title="StatementOfStockholdersEquityAbstract" />
    <link:label xlink:type="resource" xlink:label="label_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_StatementOfStockholdersEquityAbstract" xml:lang="en-US" id="label_StatementOfStockholdersEquityAbstract">CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY</link:label>
    <link:labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="StatementOfStockholdersEquityAbstract" xlink:to="label_StatementOfStockholdersEquityAbstract" xlink:title="label: StatementOfStockholdersEquityAbstract to label_StatementOfStockholdersEquityAbstract" />
    <link:loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfBankOverdrafts" xlink:label="ProceedsFromRepaymentsOfBankOverdrafts" xlink:title="ProceedsFromRepaymentsOfBankOverdrafts" />
    <link:label xlink:type="resource" xlink:label="label_ProceedsFromRepaymentsOfBankOverdrafts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="label_ProceedsFromRepaymentsOfBankOverdrafts" xml:lang="en-US" id="label_ProceedsFromRepaymentsOfBankOverdrafts">Proceeds from (Repayments of) Bank Overdrafts</link:label>
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    <link:loc xlink:type="locator" xlink:href="nsys-20111231.xsd#nsys_AccruedHealthAndDentalClaimsDisclosureAbstract" xlink:label="AccruedHealthAndDentalClaimsDisclosureAbstract" xlink:title="AccruedHealthAndDentalClaimsDisclosureAbstract" />
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</TEXT>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>11
<FILENAME>nsys-20111231_pre.xml
<DESCRIPTION>EX-101.PRE
<TEXT>
<XBRL>
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<p style="FONT-FAMILY: arial"><font size="2"><b>NOTE 3 FINANCING AGREEMENTS </b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our credit agreement with Wells Fargo Bank (WFB) provides for a line of credit arrangement of $13.5&#160;million, which expires on May&#160;31, 2013, if not renewed. The credit arrangement also has a real estate term note with a maturity date of May&#160;31, 2012, and a $475,000 equipment term loan tied to equipment purchased in the Mankato acquisition (Note&#160;9). The $1,009,050 balance of the real estate term note was classified as current at December&#160;31, 2011, however we are in negotiations to finalize and extend our real estate term note prior to maturity. Under the agreement, both the line of credit and real estate term note are subject to variations in the LIBOR rate. Our line of credit bears interest at three-month LIBOR&#160;+&#160;3.00% (3.60% at December&#160;31, 2011) while our real estate term note bears interest at three-month LIBOR&#160;+&#160;3.5% (4.1% at December&#160;31, 2011). The weighted-average interest rate on our line of credit and real estate term note were 3.81% and 4.27%, respectively for the year ended December&#160;31, 2011. We had borrowings on our line of credit of $9,345,044 and $5,615,121 outstanding as of December&#160;31, 2011 and 2010, respectively. </font></p>
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<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
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<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
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<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
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<td style="FONT-FAMILY: arial" align="right"><font size="2">600,000</font></td>
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<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">725,000</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
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<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
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<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">2,123,127</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">2,573,078</font></td>
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<p style="MARGIN-LEFT: 40pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Current maturities of long-term debt</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">(1,310,210</font></td>
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<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">(841,760</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
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<td style="FONT-FAMILY: arial" align="right"><font size="2">812,917</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">1,731,318</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
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<div style="MARGIN-BOTTOM: 0pt; WIDTH: 81pt; BORDER-BOTTOM: #000000 1pt solid"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Years Ending December&#160;31, <!-- COMMAND=ADD_SCROPPEDRULE,81pt --></b></font></div></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Amount </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2012</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,310,210</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2013</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">372,917</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2014</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">80,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2015</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">80,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2016</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">80,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Future</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">200,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial">&#160;</p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">2,123,127</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On June&#160;28, 2006, we entered into an interest rate swap agreement with a notional amount of $1,440,000 to effectively convert our industrial revenue bond debt from a variable rate to a fixed rate of 4.07% for five years, which expired in June 2011. We did not use this interest rate swap for speculative purposes. The fair value of the swap of $18,140 was recorded in Other Long-Term Liabilities at December&#160;31, 2010. The change in the fair value of ($18,140) and ($27,772) for the years ended December&#160;31, 2011 and 2010, respectively was recorded as a component of interest expense.</font></p></td></tr></table>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20,22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br></p>
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    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>MAJOR CUSTOMERS AND CONCENTRATION OF CREDIT RISK<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RisksAndUncertaintiesAbstract', window );"><strong>MAJOR CUSTOMERS AND CONCENTRATION OF CREDIT RISK</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskDisclosureTextBlock', window );">MAJOR CUSTOMERS AND CONCENTRATION OF CREDIT RISK</a></td>
        <td class="text"><table style="font-size:10pt; font-family:'Times New Roman',times,serif;">
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<td>
<p style="FONT-FAMILY: arial"><font size="2"><b>NOTE 2 MAJOR CUSTOMERS AND CONCENTRATION OF CREDIT RISK </b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and accounts receivable. With regard to cash, we maintain our excess cash balances in checking accounts at one high-credit quality financial institution. These accounts may at times exceed federally insured limits. We do not require collateral on our receivables. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Two divisions of General Electric,&#160;Co. (G.E.) accounted for 10% or more of our net sales during the past two years. G.E.'s Medical Division accounted for 16% and 19% of net sales for the years ended December&#160;31, 2011 and 2010, respectively. G.E.'s Transportation Division accounted for 7% and 8% of net sales for the years ended December&#160;31, 2011 and 2010, respectively. Together, G.E.'s Medical and Transportation Divisions accounted for 23% and 27% of net sales for the years ended December&#160;31, 2011 and 2010, respectively. Accounts receivable from G.E.'s Medical and Transportation Divisions at December&#160;31, 2011 and 2010 represented 17% and 14% of total accounts receivable, respectively.</font></p></td></tr></table>
<span></span></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6404-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 94-6<br><br> -Paragraph 21, 22, 24<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13537-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15A<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6442-108592<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 20<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13531-108611<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6327-108592<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 18<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6351-108592<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ConcentrationRiskDisclosureTextBlock</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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        <tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RisksAndUncertaintiesAbstract</nobr></td>
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  <head>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EOQAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current Assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 230,582<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts Receivable, Less Allowance for Uncollectible Accounts</a></td>
        <td class="nump">16,720,462<span></span></td>
        <td class="nump">15,562,277<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories</a></td>
        <td class="nump">19,029,593<span></span></td>
        <td class="nump">16,108,773<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseCurrent', window );">Prepaid Expenses</a></td>
        <td class="nump">572,140<span></span></td>
        <td class="nump">596,363<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesReceivable', window );">Income Taxes Receivable</a></td>
        <td class="nump">170,292<span></span></td>
        <td class="nump">376,001<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetCurrent', window );">Deferred Taxes</a></td>
        <td class="nump">805,000<span></span></td>
        <td class="nump">594,000<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total Current Assets</a></td>
        <td class="nump">37,297,487<span></span></td>
        <td class="nump">33,467,996<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and Equipment, Net</a></td>
        <td class="nump">9,083,874<span></span></td>
        <td class="nump">7,157,543<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNet', window );">Finite Life Intangible Assets, Net of Accumulated Amortization</a></td>
        <td class="nump">61,547<span></span></td>
        <td class="nump">202,150<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetNoncurrent', window );">Deferred Taxes</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">219,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other Assets</a></td>
        <td class="nump">339,235<span></span></td>
        <td class="nump">514,235<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
        <td class="nump">46,782,143<span></span></td>
        <td class="nump">41,560,924<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current Liabilities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LinesOfCreditCurrent', window );">Line of Credit</a></td>
        <td class="nump">9,345,044<span></span></td>
        <td class="nump">5,615,121<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Current Maturities of Long-Term Debt</a></td>
        <td class="nump">1,310,210<span></span></td>
        <td class="nump">841,760<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts Payable</a></td>
        <td class="nump">11,333,013<span></span></td>
        <td class="nump">10,727,907<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued Payroll and Commissions</a></td>
        <td class="nump">2,170,852<span></span></td>
        <td class="nump">2,584,108<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Other Accrued Liabilities</a></td>
        <td class="nump">852,936<span></span></td>
        <td class="nump">634,655<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total Current Liabilities</a></td>
        <td class="nump">25,012,055<span></span></td>
        <td class="nump">20,403,551<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesNoncurrentAbstract', window );"><strong>Long-Term Liabilities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long-Term Debt (Net of Current Maturities)</a></td>
        <td class="nump">812,917<span></span></td>
        <td class="nump">1,731,318<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxLiabilitiesNoncurrent', window );">Deferred Taxes</a></td>
        <td class="nump">271,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesNoncurrent', window );">Other Long-Term Liabilities</a></td>
        <td class="nump">180,378<span></span></td>
        <td class="nump">137,236<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesNoncurrent', window );">Total Long-Term Liabilities</a></td>
        <td class="nump">1,264,295<span></span></td>
        <td class="nump">1,868,554<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total Liabilities</a></td>
        <td class="nump">26,276,350<span></span></td>
        <td class="nump">22,272,105<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Shareholders' Equity</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred Stock, $1 par value; 1,000,000 Shares Authorized; 250,000 Shares Issued and Outstanding</a></td>
        <td class="nump">250,000<span></span></td>
        <td class="nump">250,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common Stock - $0.01 par value; 9,000,000 Shares Authorized; 2,742,992 Shares Issued and Outstanding at December 31, 2011 and 2010, respectively</a></td>
        <td class="nump">27,430<span></span></td>
        <td class="nump">27,430<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional Paid-In Capital</a></td>
        <td class="nump">15,725,392<span></span></td>
        <td class="nump">15,698,348<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated Other Comprehensive Loss</a></td>
        <td class="num">(62,936)<span></span></td>
        <td class="num">(62,936)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained Earnings</a></td>
        <td class="nump">4,565,907<span></span></td>
        <td class="nump">3,375,977<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Shareholders' Equity</a></td>
        <td class="nump">20,505,793<span></span></td>
        <td class="nump">19,288,819<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total Liabilities and Shareholders' Equity</a></td>
        <td class="nump">$ 46,782,143<span></span></td>
        <td class="nump">$ 41,560,924<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableCurrent</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsReceivableNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e653-108580<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 130<br><br><br><br> -Paragraph 14, 17, 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name FASB Staff Position (FSP)<br><br><br><br> -Number FAS115-1/124-1<br><br><br><br> -Paragraph 15D<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e637-108580<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e681-108580<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdditionalPaidInCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br> -Section S99<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Publisher FASB<br><br><br><br> -Paragraph 1<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Concepts (CON)<br><br><br><br> -Number 6<br><br><br><br> -Paragraph 25<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6801-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Section 45<br><br><br><br> -SubTopic 10<br><br><br><br> -Topic 210<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Paragraph 1<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7<br><br><br><br> -Footnote 1<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 8, 9<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7, 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward is presented as a reduction of the related deferred tax asset.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31928-109318<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Paragraph 41, 42, 43<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31958-109318<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31917-109318<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The noncurrent portion as of the balance sheet date of the aggregate carrying amount of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after the valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, is classified according to the expected reversal date of the temporary difference.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31928-109318<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Paragraph 41, 42, 43<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31958-109318<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31917-109318<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxAssetsNetNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxLiabilitiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the noncurrent portion of deferred tax liabilities, which result from applying the applicable tax rate to net taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. A noncurrent taxable temporary difference is a difference between the tax basis and the carrying amount of a noncurrent asset or liability in the financial statements prepared in accordance with generally accepted accounting principles. In a classified statement of financial position, an enterprise separates deferred tax liabilities and assets into a current amount and a noncurrent amount. Deferred tax liabilities and assets are classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, are classified according to the expected reversal date of the temporary difference.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31958-109318<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Paragraph 41, 42<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31917-109318<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907571&amp;loc=d3e31931-109318<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredTaxLiabilitiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeRelatedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EmployeeRelatedLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate sum of gross carrying value of a major finite-lived intangible asset class, less accumulated amortization and any impairment charges. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 45<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16323-109275<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FiniteLivedIntangibleAssetsNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount due within one year of the balance sheet date (or one operating cycle, if longer) from tax authorities as of the balance sheet date representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 5<br><br><br><br> -Subparagraph c<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.10)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3(a)(4))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 10<br><br><br><br> -Article 9<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 109<br><br><br><br> -Section Appendix E<br><br><br><br> -Paragraph 289<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.5(c))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxesReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InventoryNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Liabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 32<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22, 23, 24, 25, 26, 27<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesNoncurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesNoncurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LinesOfCreditCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Line-of-Credit Arrangement<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6517033<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LinesOfCreditCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6935-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Chapter 3<br><br><br><br> -Section A<br><br><br><br> -Paragraph 7<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6911-107765<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e7018-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAccruedLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssetsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 24<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.24)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherLiabilitiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 129<br><br><br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 5<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (g)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 340<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 05<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386993&amp;loc=d3e5879-108316<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Section A<br><br><br><br> -Paragraph 4<br><br><br><br> -Chapter 3<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Assets<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509628<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6787-107765<br><br><br><br><br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 5<br><br><br><br> -Subparagraph b, c<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br><br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E55AG">
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          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
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      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
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        <th class="th">
          <div>Dec. 31, 2010</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract', window );"><strong>CASH FLOWS FROM OPERATING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:</strong></a></td>
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        <td class="nump">1,895,061<span></span></td>
        <td class="nump">1,554,577<span></span></td>
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        <td class="nump">140,603<span></span></td>
        <td class="nump">141,399<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Compensation on Stock-Based Awards</a></td>
        <td class="nump">27,044<span></span></td>
        <td class="nump">31,728<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nsys_InterestOnSwapValuation', window );">Interest on Swap Valuation</a></td>
        <td class="num">(18,140)<span></span></td>
        <td class="num">(27,772)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Impairment on Assets Held for Sale</a></td>
        <td class="nump">52,733<span></span></td>
        <td class="nump">55,786<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount', window );">Bargain Purchase Gain</a></td>
        <td class="num">(791,615)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred Taxes</a></td>
        <td class="nump">279,000<span></span></td>
        <td class="nump">288,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss on Disposal of Property and Equipment</a></td>
        <td class="nump">1,020<span></span></td>
        <td class="nump">901<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized', window );">Foreign Currency Transaction Loss</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">8,333<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in Current Operating Items, Net of Effects of Business Acquisition</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts Receivable</a></td>
        <td class="nump">718,771<span></span></td>
        <td class="num">(3,532,471)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
        <td class="num">(2,920,820)<span></span></td>
        <td class="nump">865<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid Expenses and Other Assets</a></td>
        <td class="nump">24,223<span></span></td>
        <td class="num">(53,207)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable', window );">Income Taxes Receivable</a></td>
        <td class="nump">205,709<span></span></td>
        <td class="nump">2,139,543<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayable', window );">Accounts Payable</a></td>
        <td class="num">(1,167,228)<span></span></td>
        <td class="nump">1,674,954<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities', window );">Accrued Payroll and Commissions</a></td>
        <td class="num">(413,256)<span></span></td>
        <td class="nump">1,127,119<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities', window );">Other Accrued Liabilities</a></td>
        <td class="num">(97,146)<span></span></td>
        <td class="num">(1,026,267)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations', window );">Net Cash Provided by (Used in) Operating Activities</a></td>
        <td class="num">(874,111)<span></span></td>
        <td class="nump">2,890,254<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract', window );"><strong>CASH FLOWS FROM INVESTING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment', window );">Proceeds from Sale of Property and Equipment</a></td>
        <td class="nump">138,621<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired', window );">Business Acquisition</a></td>
        <td class="num">(1,542,389)<span></span></td>
        <td class="num">(402,969)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchases of Property and Equipment</a></td>
        <td class="num">(1,270,443)<span></span></td>
        <td class="num">(626,630)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations', window );">Net Cash Used in Investing Activities</a></td>
        <td class="num">(2,674,211)<span></span></td>
        <td class="num">(1,029,599)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract', window );"><strong>CASH FLOWS FROM FINANCING ACTIVITIES</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfLinesOfCredit', window );">Net Borrowings on Line of Credit</a></td>
        <td class="nump">3,729,923<span></span></td>
        <td class="nump">124,514<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Proceeds from Long-Term Debt</a></td>
        <td class="nump">1,380,904<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Principal Payments on Long-Term Debt</a></td>
        <td class="num">(1,793,087)<span></span></td>
        <td class="num">(2,013,106)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from Issuance of Common Stock</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">12,500<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations', window );">Net Cash Provided by (Used in) Financing Activities</a></td>
        <td class="nump">3,317,740<span></span></td>
        <td class="num">(1,876,092)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations', window );">Effect of Foreign Currency Exchange Rate Changes on Cash</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">638<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInContinuingOperations', window );">NET DECREASE IN CASH</a></td>
        <td class="num">(230,582)<span></span></td>
        <td class="num">(14,799)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash - Beginning of Year</a></td>
        <td class="nump">230,582<span></span></td>
        <td class="nump">245,381<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">CASH - END OF YEAR</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">230,582<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental Disclosure of Cash Flow Information:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Cash Paid During the Period for Interest</a></td>
        <td class="nump">511,328<span></span></td>
        <td class="nump">450,180<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Cash Paid (Received) During the Period for Income Taxes</a></td>
        <td class="nump">40,058<span></span></td>
        <td class="num">(2,027,951)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>Supplemental Noncash Investing and Financing Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalExpendituresIncurredButNotYetPaid', window );">Capital Expenditures in Accounts Payable</a></td>
        <td class="nump">117,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTransfersAndChanges', window );">Transfers of Property and Equipment</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 201,000<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nsys_InterestOnSwapValuation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents interest paid on swap valuation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nsys_InterestOnSwapValuation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nsys_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentForAmortization">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of recurring noncash expense charged against earnings in the period to allocate the cost of assets over their estimated remaining economic lives.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentForAmortization</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6390789&amp;loc=d3e2420-110228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 45, 46, 47<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetImpairmentCharges</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 25<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6396-128476<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141R<br><br> -Paragraph 36, 37, 38<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 30<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6571-128477<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141R<br><br> -Paragraph 68<br><br> -Subparagraph o(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (f)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911361&amp;loc=d3e6927-128479<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 25<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6387-128476<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 30<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6527-128477<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 25<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6393-128476<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalExpendituresIncurredButNotYetPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Future cash outflow to pay for purchases of fixed assets that have occurred.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalExpendituresIncurredButNotYetPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7<br><br> -Footnote 1<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 8, 9<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Deferred Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 6<br><br> -Section I<br><br> -Subsection 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 45<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 289<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 6.I.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6889476&amp;loc=d3e330036-122817<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredIncomeTaxExpenseBenefit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Depreciation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The effect of exchange rate changes on cash balances in continuing operations held in foreign currencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 25<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate unrealized foreign currency transaction gain (loss) (pretax) included in determining net income for the reporting period. Represents the aggregate of gains (losses) on transactions that are unsettled as of the balance sheet date, which is therefore an adjustment to reconcile income (loss) from continuing operations to net cash provided by or used in continuing operations. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting entity's financial statements. For certain entities, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30700-110894<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30690-110894<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 52<br><br> -Paragraph 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ForeignCurrencyTransactionGainLossUnrealized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainLossOnSaleOfPropertyPlantEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaidNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 27<br><br> -Subparagraph f<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxesPaidNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInIncomeTaxesReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInInventories</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other expenses incurred but not yet paid.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherAccruedLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets,or  income taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid for interest during the period net of cash paid for interest that is capitalized.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 27<br><br> -Subparagraph e<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestPaidNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) in cash associated with the entity's continuing operating, investing, and financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash from (used in) the entity's financing activities specifically EXCLUDING the cash flows derived by the entity from its discontinued operations, if any. This element is only to be used when the entity reports its cash flows attributable to discontinued operations separately from the cash flow provided by or used in financing activities. Such reporting would necessitate the entity to use the Net Cash provided by or used in Discontinued Operations, Total element provided in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash from (used in) the entity's investing activities specifically EXCLUDING the cash flows derived by the entity from its discontinued operations, if any. This element is only to be used when the entity reports its cash flows attributable to discontinued operations separately from the cash flow provided by or used in investing activities. Such reporting would necessitate the entity to use the Net Cash provided by or used in Discontinued Operations, Total element provided in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -Footnote 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash from (used in) the entity's continuing operations. This element specifically EXCLUDES the cash flows derived by the entity from its discontinued operations, if any. This element is only to be used when the entity reports its cash flows attributable to discontinued operations separately from the cash flow provided by or used in operating activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -Footnote 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
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          </td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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            </div>
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        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 17<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the additional capital contribution to the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOfCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOfLongTermDebt</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromRepaymentsOfLinesOfCredit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Name Accounting Standards Codification<br><br> -Publisher FASB<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -Subparagraph c<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3098-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromRepaymentsOfLinesOfCredit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3179-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 16<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Current year reclassification, impairment, donation, or other change to long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2921-110230<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 20<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
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          <div style="width: 200px;"><strong>NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<br></strong></div>
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<p style="FONT-FAMILY: arial"><font size="2"><b>NOTE 1 NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </b></font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Nature of Business </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We manufacture wire harnesses, cables and electromechanical assemblies, printed circuit boards and higher-level assemblies for a wide range of commercial and defense industries. We provide a full "turn-key" contract manufacturing service to our customers. All products are built to the customer's design specifications. We also provide engineering services separate from the manufacture of a product and repair service on circuit boards used in machines in the medical industry. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our manufacturing facilities are located in Bemidji, Blue Earth, Merrifield, Milaca, Mankato and Baxter, Minnesota as well as Augusta, Wisconsin and Monterrey, Mexico. Products are sold to customers both domestically and internationally. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A summary of our significant accounting policies follows: </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Principles of Consolidation </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The consolidated financial statements include the accounts of our wholly owned subsidiary, Manufacturing Assembly Solutions of Monterrey,&#160;Inc. All significant intercompany accounts and transactions have been eliminated. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Use of Estimates </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of our consolidated financial statements. Estimates also affect the reported amounts of revenue and expense during the reporting period. Significant items subject to estimates and assumptions include the valuation allowance for inventories, allowance for doubtful accounts, realizability of deferred tax assets and fair value of acquired assets and assumed liabilities. Actual results could differ from those estimates. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Cash </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;For purposes of reporting cash flows, we consider cash to be short-term, highly liquid interest-bearing accounts readily convertible to cash and whose original maturity is three months or less. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Accounts Receivable and Allowance for Doubtful Accounts </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We grant credit to customers in the normal course of business. Accounts receivable are unsecured and are presented net of an allowance for uncollectible accounts. The allowance for uncollectible accounts was $122,000 and $86,000 at December&#160;31, 2011 and 2010, respectively. We determine our allowance by considering a number of factors, including the length of time accounts receivable are past due, our previous loss history, the customers' current ability to pay their obligations to us, and the condition of the general economy and the industry as a whole. We write-off accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance for uncollectible accounts. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Inventories </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Inventories are stated at the lower of cost (first-in, first-out method) or market (based on the lower of replacement cost or net realizable value). Costs include material, labor, and overhead required in the warehousing and production of our products. Inventory reserves are maintained for the estimated value of the inventory that may have a lower value than stated or quantities in excess of future production needs. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Inventories are as follows: </font></p>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">13,056,955</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">11,277,741</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">3,202,002</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">3,477,236</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Finished goods</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">3,880,764</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">2,395,843</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Reserves</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(1,110,128</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(1,042,047</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Total</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">19,029,593</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">16,108,773</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2"><b><i>Property, Equipment and Depreciation </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property and equipment are stated at cost less accumulated depreciation. Additions, improvements and major renewals are capitalized, while maintenance, repairs and minor renewals are expensed as incurred. When assets are retired or disposed of, the assets and related accumulated depreciation are removed from the accounts and the resulting gain or loss is reflected in operations. Leasehold improvements are depreciated over the shorter of their estimated use lives or their remaining lease terms. All other property and equipment are depreciated by the straight-line method over their estimated useful lives, as follows: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="56"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Buildings</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">39 Years</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Leasehold improvements</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">3-7 Years</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Manufacturing equipment</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">3-7 Years</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Office and other equipment</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">3-7 Years</font></td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Property and equipment at December&#160;31, 2011 and 2010: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
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<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="7"></td>
<td style="FONT-FAMILY: arial" width="77"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="7"></td>
<td style="FONT-FAMILY: arial" width="77"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2011 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2010 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Land</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">260,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">260,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Building and Leasehold Improvements</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">6,370,570</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">6,316,133</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Manufacturing Equipment</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">14,156,261</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">11,816,653</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Office and Other Equipment</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">4,240,137</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">3,523,526</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Accumulated Depreciation</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(15,943,094</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(14,758,769</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 18pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Net Property and Equipment</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">9,083,874</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">7,157,543</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2"><b><i>Assets Held for Sale </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Assets held for sale consist of property related to closed facilities that are currently being marketed for disposal. Assets held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell. At December&#160;31, 2011, land of $12,500 and one building, net of accumulated depreciation, of $244,003 are classified as held for sale and shown in Other Assets on the balance sheet. At December&#160;31, 2010, land of $27,000 and two buildings, net of accumulated depreciation, of $405,000 were classified as held for sale and shown in Other Assets on the balance sheet. We recognized impairment charges of $53,000 and $56,000 related to one of these buildings during the years ended December&#160;31, 2011 and 2010, respectively. The sale of this building was finalized December&#160;15, 2011. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Finite Life Intangible Assets </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Finite life intangible assets are primarily related to acquired customer base and bond issuance costs and are amortized on a straight-line basis over their estimated useful lives. Finite life intangible assets at December&#160;31, 2011 and 2010 are as follows: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
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<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="42"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="11"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>December&#160;31, 2011 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Remaining<br />
Lives<br />
(Years) </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Gross<br />
Carrying<br />
Amount </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Accumulated<br />
Amortization<br />
Amount </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Net Book<br />
Value<br />
Amount </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Bond Issue Costs</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">10</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">79,373</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">29,105</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">50,268</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Customer Base</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">676,557</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">665,278</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">11,279</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Totals</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">755,930</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">694,383</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">61,547</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2">&#160;<br /></font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
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<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="42"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="11"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>December&#160;31, 2010 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Remaining<br />
Lives<br />
(Years) </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Gross<br />
Carrying<br />
Amount </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Accumulated<br />
Amortization<br />
Amount </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Net Book<br />
Value<br />
Amount </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Bond Issue Costs</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">11</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">79,373</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">23,814</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">55,559</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Customer Base</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">2</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">676,557</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">529,966</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">146,591</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Other intangibles</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">0</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">28,560</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">28,560</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#8212;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Totals</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">784,490</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">582,340</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">202,150</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Amortization expense related to these assets was as follows: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="7"></td>
<td style="FONT-FAMILY: arial" width="56"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Year ended December&#160;31, 2011</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">140,603</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Year ended December&#160;31, 2010</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">141,399</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Estimated future annual amortization expense related to these assets for the years ending December&#160;31, is as follows: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
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<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="7"></td>
<td style="FONT-FAMILY: arial" width="56"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">2012</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">17,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">2013</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">5,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">2014</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">5,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">2015</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">5,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">2016</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">5,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial"><font size="2">Thereafter</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">25,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt; FONT-FAMILY: arial">&#160;</p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">62,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2"><b><i>Impairment Analysis </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We evaluate property and equipment and intangible assets with finite lives for impairment and for propriety of the related amortization periods, to determine whether adjustments to these amounts or useful lives are required based on current events and circumstances. The evaluation is based on our projection of the undiscounted future operating cash flows of the underlying assets. To the extent such projections indicate that future undiscounted cash flows are not sufficient to recover the carrying amounts of related assets, a charge might be required to reduce the carrying amount to the asset's estimated fair value. In 2011 and 2010, we recorded an impairment charge of approximately $53,000 and $56,000, respectively on a building held for sale. The building was sold on December&#160;15, 2011. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Preferred Stock </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Preferred stock issued is non-cumulative and nonconvertible. The holders of the preferred stock are entitled to a non-cumulative dividend of 12% when and as declared. In liquidation, holders of preferred stock have preference to the extent of $1.00 per share plus dividends accrued but unpaid. No preferred stock dividends were declared or paid during the years ended December&#160;31, 2011 and 2010. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Revenue Recognition </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We recognize revenue upon shipment of manufactured products to customers, when title has passed, all contractual obligations have been satisfied and collection of the resulting receivable is reasonably assured. We also provide engineering services separate from the manufacture of a product. Revenue for engineering services, which are short term in nature, is recognized upon completion of the engineering process, providing standalone fair value to our customers. In addition, we have another separate source of revenue that comes from short-term repair services, which are recognized upon completion of the repairs, and the repaired products are shipped back to the customer. Shipping and handling costs charged to our customers are included in net sales, while the corresponding shipping expenses are included in cost of goods sold. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Business Combinations </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We account for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification (ASC) Topic&#160;805, "Business Combinations". We recognize amounts for identifiable assets acquired and liabilities assumed equal to their estimated acquisition date fair values. We hired a third party valuation specialist to determine the value of property and equipment acquired. Transaction and integration costs associated with business combinations are expensed as incurred. Any excess of the acquisition price over the estimated fair value of net assets acquired is recorded as goodwill while any excess of the estimated fair value of net assets acquired over the acquisition price is recorded in current earnings as a gain. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Product Warranties </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We provide limited warranty for the replacement or repair of defective product at no cost to our customers within a specified time period after the sale. We make no other guarantees or warranties, expressed or implied, of any nature whatsoever as to the goods including, without limitation, warranties to merchantability, fit for a particular purpose or non-infringement of patent or the like unless agreed upon in writing. We estimate the costs that may be incurred under our limited warranty and reserve based on actual historical warranty claims coupled with an analysis of unfulfilled claims at the balance sheet date. Our warranty claims costs are not material given the nature of our products and services which normally result in repair and return in the same accounting period. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Advertising </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Advertising costs are charged to operations as incurred. The total amount charged to expense was $157,000 and $167,000 for the years ended December&#160;31, 2011 and 2010, respectively. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Income Taxes </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We account for income taxes under the asset and liability method. Deferred income tax assets and liabilities are recognized annually for differences between the financial statement and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Fair Value of Financial Instruments </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The carrying amounts of all financial instruments approximate their fair values. The carrying amounts for cash, accounts receivable, accounts payable, accrued liabilities and the line of credit approximate fair value because of the short maturity of these instruments. Based on the borrowing rates currently available to us for bank loans with similar terms and average maturities, the carrying value of our long-term debt approximates its fair value. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The fair value framework requires the categorization of assets and liabilities into one of three levels based on the assumptions (inputs) used in valuing the asset or liability. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Level&#160;1 provides the most reliable measure of fair value, while Level&#160;3 generally requires significant management judgment. The three levels are defined as follows: </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Level&#160;1:&#160;&#160;&#160;&#160;Unadjusted quoted prices in active markets for identical assets or liabilities. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Level&#160;2:&#160;&#160;&#160;&#160;Observable inputs other than quoted prices included in Level&#160;1, such as quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Level&#160;3:&#160;&#160;&#160;&#160;Unobservable inputs reflecting management's own assumptions about the inputs used in pricing the asset or liability. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our assessment of the significance of a particular input to the fair value measurements requires judgment, and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. We endeavor to use the best available information in measuring fair value. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. As of December&#160;31, 2010, our only asset or liability accounted for at fair value was our interest rate swap which was included in Other Long-Term Liabilities. The interest rate swap expired in 2011. We determined that the fair value of the swap, based on LIBOR and swap rates, fell within Level&#160;2 in the fair value hierarchy. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Stock-Based Compensation </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We account for stock-based compensation in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification 718, </font><font size="2"><i>Compensation&#8212;Stock Compensation.</i></font><font size="2"> Stock-based compensation expense was $27,000 ($.01 per diluted common share) for 2011 and $32,000 ($.01 per diluted common share) for 2010. See Note&#160;7 for additional information. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Derivative Financial Instruments </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On June&#160;28, 2006, we entered into an interest rate swap agreement to effectively convert our industrial revenue bond debt from a variable rate to a fixed rate. The swap expired June 2011. The change in market value of an interest rate swap is recognized in the statements of income by a charge or credit to interest expense. Further information related to our interest rate swap is disclosed in Note&#160;3. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Net Income Per Common Share </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Basic net income per common share is computed using the weighted-average number of common shares outstanding. For the years ended December&#160;31, 2011 and 2010, no outstanding options were included in the computation of per-share amounts as the effect of all stock-based awards were antidilutive. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Enterprise-Wide Disclosures </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our results of operations for the years ended December&#160;31, 2011 and 2010 represent a single reportable segment referred to as Contract Manufacturing within the EMS industry. We strategically direct production between our various manufacturing facilities based on a number of considerations to best meet our customers' requirements. We share resources for sales, marketing, information services, cash and risk management, banking, credit and collections, human resources, payroll, internal control, audit, taxes, SEC reporting and corporate accounting. Consolidated financial information is available that is evaluated regularly by the chief operating decision maker in assessing performance and allocating resources. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Export sales represent approximately 6% of consolidated net sales for each of the years ended December&#160;31, 2011 and 2010. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Net sales by our major EMS industry markets for the year ended December&#160;31, 2011 and 2010 are as follows: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
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<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="54"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="5"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Year Ended December&#160;31 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><i>(in thousands)</i></font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2011 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2010 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Aerospace and Defense</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">16,478</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">16,152</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Medical</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">33,378</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">29,329</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Industrial</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">64,380</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">54,339</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Total Net Sales</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">114,236</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">99,820</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Noncurrent assets, excluding deferred taxes, by country are as follows: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
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<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="73"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="73"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
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<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Mexico </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Total </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2011</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net property and equipment</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">8,811,273</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">272,601</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">9,083,874</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Other assets</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">393,056</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">7,726</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">400,782</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-TOP: 12pt; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2010</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net property and equipment</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">6,965,816</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">191,727</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">7,157,543</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
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<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Other assets</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">708,659</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">7,726</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">716,385</font></td>
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<p style="FONT-FAMILY: arial"><font size="2"><b><i>Foreign Currency Transactions </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;During the fourth quarter of 2010, we reevaluated the functional currency for our operations in Mexico and determined that the functional currency is the U.S. Dollar. As a result, the Company is no longer recording translation adjustments related to assets and liabilities or income and expense items that are transacted in the local currency as a component of accumulated other comprehensive loss in shareholders' equity. Foreign exchange transaction gains and losses attributable to exchange rate movements related to transactions made in the local currency and on intercompany receivables and payables not deemed to be of a long-term investment nature are recorded in other income (expense).</font></p></td></tr></table>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for all significant accounting policies of the reporting entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18743-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18854-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 22<br><br> -Paragraph 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18861-107790<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18726-107790<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0E6NAC">
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          <div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)<br></strong></div>
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          <div>Dec. 31, 2011</div>
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        <td class="nump">250,000<span></span></td>
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        <td class="nump">250,000<span></span></td>
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        <td class="nump">2,742,992<span></span></td>
        <td class="nump">2,742,992<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value of common stock per share; generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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                <p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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                <p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_AmendmentFlag</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:booleanItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>End date of current fiscal year in the format --MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_CurrentFiscalYearEndDate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gMonthDayItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentFiscalPeriodFocus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:fiscalPeriodItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentFiscalYearFocus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:gYearItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentPeriodEndDate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:dateItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, and Other.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentType</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:submissionTypeItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCentralIndexKey</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:centralIndexKeyItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCommonStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCurrentReportingStatus</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityFilerCategory</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:filerCategoryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityPublicFloat">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityPublicFloat</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityRegistrantName</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:normalizedStringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityVoluntaryFilers</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityWellKnownSeasonedIssuer</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EZUAE">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF INCOME (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Dec. 31, 2011</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2010</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Net Sales</a></td>
        <td class="nump">$ 114,236,411<span></span></td>
        <td class="nump">$ 99,820,069<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfGoodsAndServicesSold', window );">Cost of Goods Sold</a></td>
        <td class="nump">100,892,514<span></span></td>
        <td class="nump">88,389,803<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross Profit</a></td>
        <td class="nump">13,343,897<span></span></td>
        <td class="nump">11,430,266<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Operating Expenses:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingExpense', window );">Selling Expenses</a></td>
        <td class="nump">3,644,658<span></span></td>
        <td class="nump">3,120,202<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and Administrative Expenses</a></td>
        <td class="nump">8,186,873<span></span></td>
        <td class="nump">7,079,873<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total Operating Expenses</a></td>
        <td class="nump">11,831,531<span></span></td>
        <td class="nump">10,200,075<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income From Operations</a></td>
        <td class="nump">1,512,366<span></span></td>
        <td class="nump">1,230,191<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Other Income (Expense)</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncomeExpense', window );">Miscellaneous Income (Expense)</a></td>
        <td class="num">(41,723)<span></span></td>
        <td class="nump">80,698<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount', window );">Bargain Purchase Gain</a></td>
        <td class="nump">791,615<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest Expense</a></td>
        <td class="num">(511,328)<span></span></td>
        <td class="num">(429,123)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Total Other Income (Expense)</a></td>
        <td class="nump">238,564<span></span></td>
        <td class="num">(348,425)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Income Before Income Taxes</a></td>
        <td class="nump">1,750,930<span></span></td>
        <td class="nump">881,766<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income Tax Expense</a></td>
        <td class="nump">561,000<span></span></td>
        <td class="nump">375,000<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net Income</a></td>
        <td class="nump">$ 1,189,930<span></span></td>
        <td class="nump">$ 506,766<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings Per Common Share:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Basic and Diluted (in dollars per share)</a></td>
        <td class="nump">$ 0.43<span></span></td>
        <td class="nump">$ 0.18<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted Average Number of Common Shares Outstanding, Basic (in shares)</a></td>
        <td class="nump">2,742,992<span></span></td>
        <td class="nump">2,742,389<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted Average Number of Common Shares Outstanding, Diluted (in shares)</a></td>
        <td class="nump">2,742,992<span></span></td>
        <td class="nump">2,742,389<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 25<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6396-128476<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141R<br><br> -Paragraph 36, 37, 38<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 30<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6571-128477<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141R<br><br> -Paragraph 68<br><br> -Subparagraph o(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (f)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911361&amp;loc=d3e6927-128479<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 25<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6387-128476<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 30<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6527-128477<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 30<br><br> -Section 25<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6393-128476<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfGoodsAndServicesSold">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 2<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2(a),(d))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostOfGoodsAndServicesSold</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareAbstract</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasicAndDiluted</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GeneralAndAdministrativeExpense</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1,2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GrossProfit</nobr></td>
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                  <tr>
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                    <td><strong> Balance Type:</strong></td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph h<br><br> -Subparagraph 1(i)<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Income Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 45<br><br> -Subparagraph a, b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxExpenseBenefit</nobr></td>
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                  <tr>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cost of borrowed funds accounted for as interest that was charged against earnings during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 34<br><br> -Paragraph 21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 9<br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher OTS<br><br> -Name Federal Regulation (FR)<br><br> -Number Title 12<br><br> -Chapter V<br><br> -Section 563c.102<br><br> -Paragraph 9<br><br> -Subsection II<br><br> -LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy.  It will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e565-108580<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NonoperatingIncomeExpenseAbstract</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingExpenses</nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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        </tr>
        <tr>
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                <p>The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
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                <p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 1<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
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                <p>Expenses recognized in the period that are directly related to the selling and distribution of products or services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p>
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                <p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 171<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>401(K) RETIREMENT PLAN<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2011</div>
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        <td class="text">&#xA0;<span></span></td>
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<p style="FONT-FAMILY: arial"><font size="2"><b>NOTE 6 401(K) RETIREMENT PLAN </b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We have a 401(k) profit sharing plan (the "Plan") for our employees. The Plan is a defined contribution plan covering substantially all of our U.S. employees. Employees are eligible to participate in the Plan after completing three months of service and attaining the age of 18. Employees are allowed to contribute up to 60% of their wages to the Plan. Historically we have matched 25% of the employees' contribution up to 6% of covered compensation. We suspended this benefit from the second quarter of 2009 thru June 2010, at which time the match was reinstated. We made contributions of approximately $196,000 and $79,000 during the years ended December&#160;31, 2011 and 2010, respectively.</font></p></td></tr></table>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for pension and other postretirement benefits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 715<br><br> -URI http://asc.fasb.org/topic&amp;trid=2235017<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 87<br><br> -Paragraph 264<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 132R<br><br> -Paragraph 8<br><br> -Subparagraph m<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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<p style="FONT-FAMILY: arial"><font size="2"><b>NOTE 5 COMPREHENSIVE INCOME </b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Comprehensive income is comprised of net income and other comprehensive income. Other comprehensive income includes income or losses resulting from foreign currency translations recognized prior to 2011. The details of comprehensive income are as follows: </font></p>
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<td style="FONT-FAMILY: arial" width="12"></td>
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<td style="FONT-FAMILY: arial" width="73"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
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<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
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December&#160;31<br />
2011 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
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<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net income, as reported</font></p></td>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,189,930</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">506,766</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
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<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Other comprehensive income</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#8212;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">10,973</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
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<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
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<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Comprehensive income</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,189,930</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">517,739</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
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<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
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                <p>The entire disclosure for comprehensive income.  Includes, but is not limited to,  the following:  1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7)  the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920433&amp;loc=d3e998-108581<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e689-108580<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e637-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 17<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e716-108580<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e681-108580<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Reclassification Adjustments<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6522872<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 14-26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e640-108580<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e653-108580<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e709-108580<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>BUSINESS ACQUISITION<br></strong></div>
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<td>
<p style="FONT-FAMILY: arial"><font size="2"><b>NOTE 9 BUSINESS ACQUISITION </b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On May&#160;4, 2010, we acquired all of the intellectual property and assets, excluding cash and receivables, of Trivirix Corporation, Milaca, MN for cash of $403,000. The fair value of assets acquired included $303,000 in inventories and $100,000 in property and equipment. This operation specializes in design, manufacturing and post-production services of complex electronic and electromechanical medical devices for diagnostic, analytical and other life-science applications. This acquisition expands our capabilities and expertise serving medical electronics manufacturers. The acquisition has been accounted for as a business combination and results of operations for Milaca since the date of acquisition are included in the consolidated financial statements. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;On January&#160;1, 2011, we completed the purchase of certain assets and certain liabilities relating to Winland Electronics,&#160;Inc.'s EMS operations (Winland) located in Mankato, MN. Winland is a designer and manufacturer of custom electronic control products and systems. This purchase provided needed manufacturing capacity, particularly for supporting medical and industrial customers with printed circuit board assemblies and higher-level builds. The acquisition was accounted for as a business combination and results of operations since the date of acquisition are included in the consolidated financial statements. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We paid $1,042,389 in cash at closing, $212,233 on July&#160;1, 2011 and $250,000 on October&#160;1, 2011. As provided for in the purchase agreement, our July&#160;1, 2011 required payment of $250,000 was reduced by $37,767 for acquired accounts receivable which were deemed uncollectible in the second quarter and assigned back to Winland. As part of the acquisition we also agreed to purchase from Winland a minimum of $2,200,000 of inventories to be consumed over a period of 24&#160;months. We have exceeded this minimum requirement as of December&#160;31, 2011. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We also agreed to manufacture certain products for Winland's remaining proprietary monitoring devices business unit. For the year ended December&#160;31, 2011, sales to Winland were approximately $2,700,000. Accounts receivable outstanding from Winland was approximately $424,000 at December&#160;31, 2011. We also signed a six year agreement to lease office and manufacturing space at 1950 Excel Drive, Mankato, Minnesota, 56001, and sublease 1,924 square feet back to Winland through December&#160;31, 2011. This sublease is now month to month. Net rent expense under this operating lease for the year ended December&#160;31, 2011 was approximately $253,000 and is included in cost of good sold. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The following table presents the allocation of the acquisition cost to the assets acquired and liabilities assumed, based on their estimated fair values at the time of the acquisition: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
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<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="78"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Accounts receivable</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">1,914,723</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Property, plant and equipment</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">2,451,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Accounts payable assumed</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">(1,772,334</font></td>
<td style="FONT-FAMILY: arial"><font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Lease payoff</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">(259,385</font></td>
<td style="FONT-FAMILY: arial"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net assets acquired</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">2,334,004</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Purchase price</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">1,542,389</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Bargain purchase gain</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">791,615</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We recognized a $791,615 bargain purchase gain related to the excess fair value over the purchase price for the assets acquired in the first quarter. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The table below reflects our unaudited pro forma combined results of operations as if the acquisition had taken place as of January&#160;1, 2010: </font></p>
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<table style="WIDTH: 592px; HEIGHT: 106px" cellspacing="0" cellpadding="0" width="592" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="89"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Pro Forma<br />
For the Year Ended<br />
December&#160;31, 2010<br />
(unaudited) </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net Sales</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">114,473,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Loss from Continuing Operations</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(291,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net Loss</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(0.11</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Basic Loss per Common Share</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(0.11</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Combined results for the two companies for the year ended December&#160;31, 2010 were adjusted for the following in order to create the unaudited proforma results in the table above:</font></p>
<ul>
<li style="list-style: none">
<dl compact="compact">
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"><font size="2">&#8226;</font> </dt>
<dd style="FONT-FAMILY: arial"><font size="2">Additional rent expense of approximately $65,000 per quarter for the lease of the facility from Winland, offset by building depreciation of $21,000 per quarter, </font><font size="2"><br />
<br /></font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"><font size="2">&#8226;</font> </dt>
<dd style="FONT-FAMILY: arial"><font size="2">Additional depreciation expense of approximately $40,000 per quarter resulting from the adjustment of property and equipment to their fair values, </font><font size="2"><br />
<br /></font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"><font size="2">&#8226;</font> </dt>
<dd style="FONT-FAMILY: arial"><font size="2">Elimination of inventory obsolescence charges of approximately $297,000 as we did not acquire Winland's inventory as part of the acquisition, </font><font size="2"><br />
<br /></font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"><font size="2">&#8226;</font> </dt>
<dd style="FONT-FAMILY: arial"><font size="2">Tax benefit of approximately $489,000 using an effective tax rate of 38&#160;percent, </font><font size="2"><br />
<br /></font></dd>
<dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"><font size="2">&#8226;</font> </dt>
<dd style="FONT-FAMILY: arial"><font size="2">The impact of these adjustments on outstanding shares of 2,742,389 was to decrease proforma loss per share by $0.29. </font></dd></dl></li></ul>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The pro forma unaudited results do not purport to be indicative of the results which would have been obtained had the acquisition been completed as of the beginning of the earliest period presented. In addition they do not include any benefits that may result from the acquisition due to synergies that may be derived from the elimination of any duplicative costs.</font></p></td></tr></table>
<span></span></td>
      </tr>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 51, 52<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 805<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 7<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6909870&amp;loc=d3e1524-128463<br><br><br><br>Reference 17: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 88-16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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          <div style="width: 200px;"><strong>INCENTIVE PLANS<br></strong></div>
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<p style="FONT-FAMILY: arial"><font size="2"><b>NOTE 7 INCENTIVE PLANS </b></font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Employee Profit Sharing </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;During 1993, we adopted an employee profit sharing plan (the "Plan"). The purpose of the Plan is to provide a bonus for increased output, improved quality and productivity and reduced costs. We have authorized 50,000 common shares to be available under this Plan. In accordance with the terms of the Plan, employees could acquire newly issued shares of common stock for 90% of the current market value. During 2011 and 2010 no common shares were issued in connection with this plan. Through December&#160;31, 2011, 22,118 common shares had been issued under this Plan. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Stock Options </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In 1992, we approved the adoption of a fixed stock based compensation plan. In February 2003, we reached the maximum options allowed to be granted under that plan. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;During 2003, our shareholders approved the adoption of the Nortech Systems Incorporated 2003 Stock Option Plan (the "2003 Plan"). On May&#160;3, 2005, the shareholders approved the 2005 Incentive Compensation Plan (the "2005 Plan") and eliminated the remaining 172,500 option shares available for grant under the 2003 Plan effective February&#160;23, 2005. The total number of shares of common stock that may be granted under the 2005 Plan is 200,000, of which 29,000 remain available for grant at December&#160;31, 2011. The 2005 Plan provides that option shares granted come from our authorized but unissued common stock. The price of the option shares granted under the plan will not be less than 100% of the fair market value of the common shares on the date of grant. Options are generally exercisable after one or more years and expire no later than 10&#160;years from the date of grant. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;During 2007, the Board of Directors approved the adoption of the FOCUS Incentive Plan (the "2007 Plan"). The purpose of the 2007 Plan was to provide incentives to our employees to increase our return on sales "ROS" performance measurement. The FOCUS plan was unique from the preceding Plans in that vesting of options was conditional upon our achievement of established performance measurements. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;As these performance measures were not met, no options granted under this Plan will ever vest. Effective January&#160;19, 2012, the Board of Directors terminated the 2007 Plan and as a result all outstanding options from this plan were cancelled. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We estimate the fair value of share-based awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense in the consolidated statements of income over the requisite service periods. Because share-based compensation expense is based on awards that are ultimately expected to vest, share-based compensation expense will be reduced to account for estimated forfeitures. We estimate forfeitures at the time of grant and revise the estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We used the Black-Scholes option-pricing model to calculate the fair value of option-based awards. Our determination of fair value of option-based awards on the date of grant using the Black-Scholes model is affected by our stock price as well as assumptions regarding a number of subjective variables as noted in the following table. These variables include, but are not limited to, our expected stock price volatility over the term of the awards, risk-free interest rate, and the expected life of the options. The risk-free interest rate is based on a treasury instrument whose term is consistent with the expected life of our stock options. The expected volatility and holding period are based on our historical experience. For all grants, the amount of compensation expense recognized has been adjusted for an estimated forfeiture rate, which is based on historical data. There were no grants during the years ended December&#160;31, 2011 and 2010. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Stock Options with Time-Based Vesting </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total compensation expense related to stock options with time-based vesting for the years ended December&#160;31, 2011 and 2010 was $27,044 and $31,728, respectively. As of December&#160;31, 2011 there was no unrecognized compensation expense related to unvested option awards. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;A summary of option activity under all plans as of December&#160;31, 2011, and changes during the year then ended is presented below. </font></p>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">7.28</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
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<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
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<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">7.33</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">4.55</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#8212;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
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<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">304,000</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">7.21</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">3.46</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#8212;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;There were no grants during the years ended December&#160;31, 2011 and 2010. The weighted average fair value of options vested during the years ended December&#160;31, 2011 and 2010 were $2.64 and $3.69, respectively. The total intrinsic value of options exercised during the year ended December&#160;31, 2010 was $20. There were no options exercised for the year ended December&#160;31, 2011. Cash received from options exercised under all share-based payment arrangements for the years ended December&#160;31, 2010 was $12,500. We recognize the tax benefit from the exercise of options in the statement of cash flows as a cash inflow from financing activities. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Equity Appreciation Rights Plan </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In November 2010, the Board of Directors approved the adoption of the Nortech Systems Incorporated Equity Appreciation Rights Plan (the "2010 Plan"). The total number of Equity Appreciation Right Units (Units) the Plan can issue shall not exceed an aggregate of 750,000 Units, of which 100,000 Units were issued during the year ended December&#160;31, 2010. There were no additional Units granted during the year ended December&#160;31, 2011. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The 2010 Plan provides that Units issued shall fully vest three years from the grant date unless terminated earlier. Units give the holder a right to receive a cash payment equal to the appreciation in book value per share of common stock from the base date, as defined, to the redemption date. Unit redemption payments under this plan shall be paid in cash within 90&#160;days after we determine the book value of the Units as of the calendar year immediately preceding the redemption date. The Units issued during the year ended December&#160;31, 2010 have a book value per Unit of $6.84 and have a weighted average life remaining of one year at December&#160;31, 2011. Total compensation expense related to these Units based on the estimated appreciation over their remaining term for the years ended December&#160;31, 2011 and 2010 was $57,000 and $5,000, respectively.</font></p></td></tr></table>
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                <p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>COMMITMENTS AND CONTINGENCIES<br></strong></div>
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          <div>Dec. 31, 2011</div>
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<p style="FONT-FAMILY: arial"><font size="2"><b>NOTE 8 COMMITMENTS AND CONTINGENCIES </b></font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Operating Leases </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We have various operating leases for production and office equipment, office space, and buildings under non-cancelable lease agreements expiring on various dates through 2017. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Rent expense for the years ended December&#160;31, 2011 and 2010 amounted to approximately $1,006,000 and $914,000 respectively. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Approximate future minimum lease payments under non-cancelable leases are as follows: </font></p>
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<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="73"></td>
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<div style="MARGIN-BOTTOM: 0pt; WIDTH: 91pt; BORDER-BOTTOM: #000000 1pt solid"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Years Ending December&#160;31, <!-- COMMAND=ADD_SCROPPEDRULE,91pt --></b></font></div></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Amount </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
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<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2012</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">750,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2013</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">625,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2014</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">477,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2015</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">415,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">2016</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">335,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
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<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Thereafter</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">336,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
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<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">2,938,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
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<p style="FONT-FAMILY: arial"><font size="2"><b><i>Litigation </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We are subject to various legal proceedings and claims that arise in the ordinary course of business. In our opinion, the amount of any ultimate liability with respect to these actions will not materially affect our consolidated financial statements or results of operations. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Executive Life Insurance Plan </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;During 2002, we set up an Executive Bonus Life Insurance Plan (the "Plan") for our key employees ("participants"). Pursuant to the Plan, we will pay a bonus to officer participants of 15% and a bonus to all other participants of 10% of the participants' base annual salary, as well as an additional bonus to cover federal and state taxes incurred by the participants. The participants are required to purchase life insurance and retain ownership of the life insurance policy once it is purchased. The Plan provides a five-year graded vesting schedule in which the participants vest at a rate of 20% each year. Should a participant terminate employment prior to the fifth year of vesting, that participant may be required to reimburse us for any unvested amounts, under certain circumstances. Expenses under the Plan were $327,000 and $338,000 for the years ended December&#160;31, 2011 and 2010, respectively. </font></p>
<p style="FONT-FAMILY: arial"><font size="2"><b><i>Change of Control Agreements </i></b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;During 2002, we entered into Change of Control Agreements (the "Agreement(s)") with certain key executives ("the Executive(s)"). The Agreements provide an inducement for each Executive to remain as an employee in the event of any proposed or anticipated change of control in the organization, including facilitating an orderly transition, and to provide economic security for the Executive after a change in control has occurred. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In the event of an involuntarily termination, each Executive would receive their base salary, annual bonus at time of termination, and continued participation in health, disability and life insurance plans for a period of three years for officers and two years for all other participants. Participants would also receive professional outplacement services up to $10,000, if applicable. Each Agreement remains in full force until the Executive terminates employment or we terminate the employment of the Executive.</font></p></td></tr></table>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for commitments and contingencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 450<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6952336&amp;loc=d3e14435-108349<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 460<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6398077&amp;loc=d3e12565-110249<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 14<br><br> -Paragraph 3<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 440<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 9, 10, 11, 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>SCHEDULE II - Valuation and Qualifying Accounts<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2011</div>
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<p style="FONT-FAMILY: arial" align="center"><font size="2"><b>SCHEDULE II&#8212;Valuation and Qualifying Accounts </b></font></p>
<p style="FONT-FAMILY: arial" align="center"><font size="2"><b>FOR THE YEARS ENDED DECEMBER 31, 2011 AND 2010 </b></font></p>
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<td style="FONT-FAMILY: arial" width="73"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
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<div style="MARGIN-BOTTOM: 0pt; WIDTH: 45pt; BORDER-BOTTOM: #000000 1pt solid"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Classification <!-- COMMAND=ADD_SCROPPEDRULE,45pt --></b></font></div></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Balance at<br />
Beginning<br />
of Year </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Additions Charged<br />
to Costs<br />
and Expenses </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Deductions </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>Balance at<br />
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<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
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<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Year Ended December&#160;31, 2011:</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Allowance for Uncollectible Accounts</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">86,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">42,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(6,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">122,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Inventory Reserves</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,042,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">889,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(821,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,110,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Self-insurance Accrual</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">35,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">49,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(84,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#8212;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-TOP: 12pt; MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Year Ended December&#160;31, 2010:</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Allowance for Uncollectible Accounts</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">138,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">58,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(110,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">86,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Inventory Reserves</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,095,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,243,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(1,296,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,042,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Self-insurance Accrual</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">310,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">3,110,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(3,385,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">35,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr></table></div>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 09<br><br> -Article 12<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e24092-122690<br><br><br><br></p>
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          <div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Total</div>
        </th>
        <th class="th">
          <div>Preferred Stock</div>
        </th>
        <th class="th">
          <div>Common Stock</div>
        </th>
        <th class="th">
          <div>Additional Paid-In Capital</div>
        </th>
        <th class="th">
          <div>Accumulated Other Comprehensive Income (Loss)</div>
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          <div>Retained Earnings</div>
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        <td class="nump">$ 18,726,852<span></span></td>
        <td class="nump">$ 250,000<span></span></td>
        <td class="nump">$ 27,390<span></span></td>
        <td class="nump">$ 15,654,160<span></span></td>
        <td class="num">$ (73,909)<span></span></td>
        <td class="nump">$ 2,869,211<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">506,766<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">506,766<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Issuance of stock upon exercise of stock options</a></td>
        <td class="nump">12,500<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">40<span></span></td>
        <td class="nump">12,460<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Compensation on stock-based awards</a></td>
        <td class="nump">31,728<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="nump">31,728<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax', window );">Translation gain, net of tax</a></td>
        <td class="nump">10,973<span></span></td>
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        <td class="nump">10,973<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE at Dec. 31, 2010</a></td>
        <td class="nump">19,288,819<span></span></td>
        <td class="nump">250,000<span></span></td>
        <td class="nump">27,430<span></span></td>
        <td class="nump">15,698,348<span></span></td>
        <td class="num">(62,936)<span></span></td>
        <td class="nump">3,375,977<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">1,189,930<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">27,044<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">27,044<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE at Dec. 31, 2011</a></td>
        <td class="nump">$ 20,505,793<span></span></td>
        <td class="nump">$ 250,000<span></span></td>
        <td class="nump">$ 27,430<span></span></td>
        <td class="nump">$ 15,725,392<span></span></td>
        <td class="num">$ (62,936)<span></span></td>
        <td class="nump">$ 4,565,907<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity for the period being reported, net of tax. If an entity's functional currency is a foreign currency, translation adjustments result from the process of translating that entity's financial statements into the reporting currency. Includes gain (loss) on foreign currency forward exchange contracts. Includes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. Includes the gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) and that have been designated and have qualified as hedging instruments for hedges of the foreign currency exposure of a net investment in a foreign operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A3<br><br> -Appendix A<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br></p>
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                <p>Value stock issued during the period as a result of the exercise of stock options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
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          <div style="width: 200px;"><strong>INCOME TAXES<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Dec. 31, 2011</div>
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<p style="FONT-FAMILY: arial"><font size="2"><b>NOTE 4 INCOME TAXES </b></font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The income tax expense for the years ended December&#160;31, 2011 and 2010 consists of the following: </font></p>
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<td style="FONT-FAMILY: arial" width="12"></td>
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<td style="FONT-FAMILY: arial" width="12"></td>
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<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2011 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2010 </b></font></th>
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<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Current taxes&#8212;Federal</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">273,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">128,000</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(13,000</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(41,000</font></td>
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<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">23,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">19,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
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<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Deferred taxes&#8212;Federal</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">223,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">253,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
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<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Deferred taxes&#8212;State</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">55,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">16,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Income tax expense</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">561,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">375,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The statutory rate reconciliation for the years ended December&#160;31, 2011 and 2010 is as follows: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table style="WIDTH: 553px; HEIGHT: 149px" cellspacing="0" cellpadding="0" width="553" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2011 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2010 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Statutory federal tax provision</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">595,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">298,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">State income taxes</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">52,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">34,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Effect of foreign operations</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(6,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(5,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Income tax credits</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(66,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(95,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">NOL carryback true up</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">4,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">106,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Other, including benefit of income taxed at lower rates</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(18,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">37,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Income tax expense</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">561,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">375,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Income from operations before income taxes was derived from the following sources: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table cellspacing="0" cellpadding="0" width="100%" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="73"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2011 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2010 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Domestic</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,666,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">820,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Foreign</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">85,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">62,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Total</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,751,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">882,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Deferred tax assets (liabilities) at December&#160;31, 2011 and 2010, consist of the following: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table style="WIDTH: 557px; HEIGHT: 232px" cellspacing="0" cellpadding="0" width="557" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="78"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="73"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom">
<th style="FONT-FAMILY: arial" align="left"><font size="2">&#160;</font><br /></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2011 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th>
<th style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" align="center" colspan="2"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt"><b>2010 </b></font></th>
<th style="FONT-FAMILY: arial"><font style="FONT-SIZE: 8pt; LINE-HEIGHT: 9pt">&#160;</font></th></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Allowance for uncollectable accounts</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">45,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">31,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Inventories reserve</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">408,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">383,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Accrued vacation</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">352,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">308,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Health insurance reserve</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">&#8212;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">13,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Non-compete amortization</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">390,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">397,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Stock-based compensation</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">69,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">59,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Other</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">393,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">425,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Deferred tax assets</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,657,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">1,616,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Prepaid expenses</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(200,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(211,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Property and equipment</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(923,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(592,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Deferred tax liabilities</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(1,123,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">(803,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="top" bgcolor="white">
<td style="FONT-FAMILY: arial" valign="bottom">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net deferred tax assets</font></p></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">534,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" valign="bottom" align="right"><font size="2">813,000</font></td>
<td style="FONT-FAMILY: arial" valign="bottom"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The net deferred taxes summarized above have been classified on the accompanying consolidated balance sheets as follows: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 12%; WIDTH: 75%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table style="WIDTH: 549px; HEIGHT: 52px" cellspacing="0" cellpadding="0" width="549" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="67"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net current deferred tax assets</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">805,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">594,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net non-current deferred tax assets (liabilities)</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">(271,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">)</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">219,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Net deferred tax assets</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">534,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">813,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We have determined that it is more likely than not that our deferred tax assets will be realized, principally through anticipated taxable income in future tax years. As a result, we have determined that establishing a valuation allowance on our deferred tax assets is not necessary. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The tax effects from an uncertain tax position can be recognized in our consolidated financial statements, only if the position is more likely than not to be sustained on audit, based on the technical merits of the position. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50&#160;percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The following table sets forth changes in our total gross unrecognized tax benefit liabilities, excluding accrued interest, for the year ended December&#160;31, 2011: </font></p>
<div style="PADDING-RIGHT: 0pt; PADDING-LEFT: 0pt; PADDING-BOTTOM: 0pt; MARGIN-LEFT: 10%; WIDTH: 80%; PADDING-TOP: 0pt; POSITION: relative">
<p style="FONT-FAMILY: arial"><font size="2"><!-- COMMAND=ADD_TABLEWIDTH,"100%" --></font></p>
<!-- User-specified TAGGED TABLE -->
<div align="center">
<table style="WIDTH: 584px; HEIGHT: 154px" cellspacing="0" cellpadding="0" width="584" border="0">
<tr style="HEIGHT: 0px"><!-- TABLE COLUMN WIDTHS SET -->
<td style="FONT-FAMILY: arial" align="left"></td>
<td style="FONT-FAMILY: arial" width="12"></td>
<td style="FONT-FAMILY: arial" align="right" width="8"></td>
<td style="FONT-FAMILY: arial" width="61"></td>
<td style="FONT-FAMILY: arial" width="12"></td><!-- TABLE COLUMN WIDTHS END --></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Balance as of December&#160;31, 2009</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">115,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Tax positions related to current year:</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Additions</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">27,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Reductions</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">(28,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Balance as of December&#160;31, 2010</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">114,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Tax positions related to current year:</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Additions</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">100,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="white">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 20pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Reductions</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">(96,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">)</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr>
<tr style="HEIGHT: 0px" valign="bottom" bgcolor="#CCEEFF">
<td style="FONT-FAMILY: arial">
<p style="MARGIN-LEFT: 10pt; TEXT-INDENT: -10pt; FONT-FAMILY: arial"><font size="2">Balance as of December&#160;31, 2011</font></p></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">$</font></td>
<td style="FONT-FAMILY: arial" align="right"><font size="2">118,000</font></td>
<td style="FONT-FAMILY: arial"><font size="2">&#160;</font></td></tr>
<tr style="FONT-SIZE: 1.5pt; HEIGHT: 0px" valign="top">
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td>
<td style="BORDER-BOTTOM: #000000 2.25pt double; FONT-FAMILY: arial" valign="bottom" align="right" colspan="2">&#160;</td>
<td style="FONT-FAMILY: arial" valign="bottom">&#160;</td></tr></table></div>
<!-- end of user-specified TAGGED TABLE --></div>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The $118,000 of unrecognized tax benefits as of December&#160;31, 2011 includes amounts which, if ultimately recognized, will reduce our annual effective tax rate. It is included in Other Long-Term Liabilities on the accompanying consolidated balance sheets. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Our policy is to accrue interest related to potential underpayment of income taxes within the provision for income taxes. The liability for accrued interest as of December&#160;31, 2011 was not significant. Interest is computed on the difference between our uncertain tax benefit positions and the amount deducted or expected to be deducted in our tax returns. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;We are subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. </font></p>
<p style="FONT-FAMILY: arial"><font size="2">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;With few exceptions, we are no longer subject to U.S. federal, state or local income tax examinations by tax authorities for the years before 2008.</font></p></td></tr></table>
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